CBN Warns Banks Against Limiting ATM Withdrawals Below ₦20,000
CBN has warned banks against limiting ATM withdrawals to amounts below ₦20,000 per transaction. The CBN stated that any bank that compels a customer to withdraw less than ₦20,000 per…
CBN Explains What Cryptocurrency Ban Means For Nigerians, Banks
The Central Bank of Nigeria has explained the reason behind the recent embargo on cryptocurrency trading in the country, as well as those affected by it. This is even as…
CBN To Set Up Finance Centre At Eko Atlantic City in 2022
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) says the Apex bank will set up an international financial centre at the Eko Atlantic City by the second quarter…
CBN Announces Date For Circulation of Redesigned Naira Notes
The Central Bank of Nigeria (CBN) has said it will start issuing redesigned naira notes from December 15, 2022. This was disclosed by its Governor Godwin Emefiele in Abuja. He…
Naira Redesign: Dollar May Crash to N200 – EFCC
The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the dollar might drop to N200 following the redesigning of the naira. Bawa stated this when…
CBN Bans Dollar Payment For Domestic Transactions, Launches AfriGo Card
The Central Bank of Nigeria (CBN), in conjunction with the Nigerian Interbank Settlement System (NIBSS), has launched the Nigerian National Domestic Card Scheme named, AfriGo, aimed at creating a more…
Confusion as CBN Denies Ordering Banks To Accept Old N1000, N500 Notes
The Central Bank of Nigeria has denied reports that it directed commercial banks to accept old N1,000 and N500 notes from Nigerians. The apex bank labelled the report as false,…
What You Need to Know About CBN’s Unclaimed Balances Trust Fund
The Central Bank of Nigeria (CBN) has announced the Unclaimed Balances Trust Fund as part of a new guideline to manage dormant bank accounts. The CBB said it was mopping…
Forex: CBN Increases Daily Withdrawal Limit For Domiciliary Accounts
The Central Bank of Nigeria (CBN) has increased the daily withdrawal limit for domiciliary accounts to ten thousand dollars ($10,000). The development was made after an extraordinary Bankers’ Committee meeting…
How Allegedly Dangote Siphoned $3.4bn Through CBN
Nigerian billionaire and businessman, Aliko Dangote has been accused of siphoning $3.4 billion through the Central Bank of Nigeria. Daily Report Nigeria reports that the world's richest man was accused…