CBN Targets N50bn from New Cybersecurity Levy
The Central Bank of Nigeria (CBN) aims to generate approximately N50 billion by the end of 2024 through a newly implemented 0.005 percent cybersecurity levy on electronic transactions, according to…
CBN Raises Interest Rate to 27.5% to Combat Surging Inflation
In a move to curb Nigeria’s skyrocketing inflation, the Central Bank of Nigeria (CBN) has raised the nation’s benchmark interest rate by 25 basis points, pushing it to 27.5% in…
Nigerian Banks Raise N1.7trn in CBN’s Recapitalization Drive
Ngerian banks have raised N1.7 trillion in the first phase of the Central Bank of Nigeria's (CBN) recapitalization drive. The development has contributed to a strong start for Nigeria's banking…
Investing in Cows Better Than Cryptocurrency – Adamu Garba
A former presidential aspirant of Nigeria, Adamu Garba, has asserted that investing in cows is way better than any form of cryptocurrency business. Garba stated this on Saturday in reaction…
We Spent N58.6bn To Print N1.06trn in 2020 – CBN
The Central Bank of Nigeria (CBN) has disclosed it spent N58.618 billion to print 2.518 billion of naira notes, valued at N1.06 trillion in 2020. CBN made this known in…
BREAKING: CBN Set to Redesign Three Naira Notes
The Central Bank of Nigeria has planned to redesign three naira notes before the year ends. They include; N200, N500, and N1000 notes. Godwin Emefiele, the apex bank's governor announced…
BREAKING: Senate Backs CBN on Naira Redesign
The Senate on Wednesday agreed to provide legislative support for the policy of the Central Bank of Nigeria (CBN) to redesign the naira. The resolution followed a motion on the…
CBN To Introduce e-Naira For Corps Members
The Central Bank of Nigeria (CBN) has asked for partnership with the National Youth Service Corps (NYSC) on the use of internet money for corps members. CBN stated that the…
CBN to Attend to Customers with N500,000 Above
The Kogi State branch of the Central Bank of Nigeria has ordered individuals with less than N500,000 to visit their various banks to exchange them with new naira notes. According…
CBN to Convert Dormant Accounts Into Unclaimed Balances Trust Fund
The Central Bank of Nigeria (CBN) has announced plans to mop up dormant account balances and unclaimed balances in banks into a designated account. The CBN said the unclaimed balances…