CBN Injects $20,000 Into Forex Market To Boost Liquidity
The Central Bank of Nigeria (CBN) has released $20,000 to each Bureau De Change (BDC) operator to provide more liquidity in the foreign exchange market. According to the CBN's…
CBN Warns Nigerians Over Surge in Fraudulent Foreign Currency Transfer Claims
The Central Bank of Nigeria (CBN) has issued a stern warning to Nigerians about a rising trend of fraudulent foreign currency transfer claims, urging the public to be cautious of…
CBN Clears Outstanding $7bn FX Backlog
CBN has cleared the outstanding $7 billion foreign exchange backlog. Olayemi Cardoso announced that the clearance followed a successful verification exercise by forensic auditors. The move is expected to ease…
COVID-19: Another Lockdown Will Wound Economy — CBN
The Central Bank of Nigeria, CBN, yesterday warned the Federal Government (FG) against imposing another total lockdown of the country, saying such a move would be catastrophic to Nigerians and…
eNaira is Secure, Dependable, But We Expect Minor Challenges – CBN
The Central Bank of Nigeria (CBN) has assured Nigerians that its digital currency, eNaira, is secure and dependable. Spokesperson of the apex bank, Osita Nwanisobi gave the assurance on Thursday…
CBN, NIBSS Unveil National Domestic Card Scheme
The Central Bank of Nigeria (CBN) has said that it is introducing a National Domestic Card Scheme effective from January 16, 2023. The bank noted that the initiative is in…
Naira Redesign: We Have Trouble Fishing Out Counterfeits
The Central Bank of Nigeria (CBN) on Thursday revealed it is yet to fish out counterfeits of the naira note. Amina Abdulmalik, Deputy Director, Currency Operations Department, CBN, said this…
BREAKING: CBN Increases Interest Rate
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark interest rate by 100 basis points to 17.5 per cent. Its governor, Godwin Emefiele, announced this…
Naira Scarcity: Buhari Sympathizes With Nigerians, Issues New Order
President Muhammadu Buhari on Thursday sympathized with Nigerians over the persistent scarcity of naira notes in the country. The President expressed sympathy with citizens over their recent plights following the…
BREAKING: CBN Orders Banks to Make Old Naira Notes Available
The Central Bank of Nigeria (CBN) has instructed commercial banks in the country to retrieve old naira notes they deposited in its branches and make same available to Nigerians. The…