CBN Reports Surge in IMTO Remittances to $600 Million
The Central Bank of Nigeria (CBN) has announced a remarkable increase in remittances from International Money Transfer Operators (IMTOs), reaching approximately $600 million by the end of September 2024. This…
CBN Cracks Down on Fraud with N100,000 Daily Withdrawal Limit on PoS Terminals
The Central Bank of Nigeria (CBN) has imposed a daily withdrawal limit of N100,000 per customer on Point-of-Sale (PoS) terminals, in a bid to promote a cashless economy and curb…
CBN’s Forex Policies Working, Naira Undervalued by 26.35% – Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company, has expressed confidence in CBN foreign exchange policies, stating they are yielding positive results. Rewane noted that the naira is currently 26.35%…
Forex Ban: CBN Orders Banks to Publish Names, BVNs of Defaulters
Forex Ban The Central Bank of Nigeria has ordered commercial banks in the country to publish names and Bank Verification Numbers of customers who use fraudulent and illegal practices to…
Russia-Ukraine War: We’ve Devised Strategies To Mitigate Looming Food Crisis – CBN
Godwin Emefiele, the governor of Central Bank of Nigeria (CBN) has said the apex bank has come up with strategies to mitigate the impending food crisis occasioned by the Russia…
CBN Told to Remove Arabic Inscription From Redesigned Naira Notes
The Central Bank of Nigeria, CBN, has been asked to remove the existing Arabic inscription from the redesigned naira notes. Senior Special Assistant to Governor Samuel Ortom on Media and…
New Naira Notes Now in Banks – Emefiele
Central Bank governor Godwin Emefiele has announced that the newly redesigned naira notes are now in banks and ready for issuance. Emefiele made the announcement at Daura when visited President…
Why We Extended Old Naira Notes Deadline – CBN
The Central Bank of Nigeria has extended deadline for the swapping of old naira notes, Daily Report Nigeria reports. This was contained in a statement on Sunday by the apex…
Naira Policy: We Have No Idea of Supreme Court’s Order – CBN
The Central Bank of Nigeria, CBN says it has no knowledge of the Supreme Court's rule which rendered the old N200, N500, and N1,000 notes legal tender until December 31.…
Cashless Economy: CBN Announces New Payment Systems
The Central Bank of Nigeria (CBN) has announced guidelines for the use of new Contactless payment systems in the country. Adeyemi Adefuye, the Deputy Director of the Payment System Management…