Banks Commence Issuing of Old N500, N1,000 Notes to Customers
Some commercial banks across the country have started paying out the old N500 and N1,000 notes to customers. The development is a follow up to the Supreme Court judgment extending…
CBN Speaks on BVN Expiry Date
The Central Bank of Nigeria (CBN) has spoken concerning reports about the expiry date of the Bank Verification Number (BVN). Some previous reports had suggested that the BVN expires after…
CBN Warns Nigerian Banks Against Russia, Iran, Others
The Central Bank of Nigeria (CBN) has warned Nigerian banks to be cautious when dealing with foreign transactions. Daily Report Nigeria reports that the CBN particularly warned commercial banks regarding…
CBN Deputy Governor, Aishah Ahmad Speaks on Arrest by DSS
Aishah Ahmad, a Deputy Governor of the Central Bank of Nigeria, has spoken out about her reported arrest by the Department of State Services. Daily Report Nigeria reports that there…
CBN Halts New Loan Application for Funds Programme
The Central Bank of Nigeria (CBN) has temporarily halted new applications for loans under the CBN development finance intervention funds programme. The halt was confirmed by Access Bank Plc in…
Nigeria’s Foreign Reserves Receive $600m Boost
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN) has announced that the country's foreign reserves have received an additional $600 million. The development is expected to contribute…
CBN Demands Evidence for All Foreign Investment Transactions
The Central Bank of Nigeria (CBN) has mandated that all foreign investment divestments and repatriations must be accompanied by documented evidence. This includes electronic Certificates of Capital Importation (CCI)…
CBN Slaps N1.5 Billion Fine on 10 Banks for Forex Violations
The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have imposed hefty fines totaling N1.502 billion on ten banks for breaching foreign exchange regulations. This decisive…
CBN Opens $25,000 Weekly Forex Window for BDCs to Meet Yuletide Demand
The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary access to purchase up to $25,000 weekly from the Nigerian Foreign Exchange Market (NFEM) to meet…
Banks Commence N100 ATM Charges Today
CBN has introduced new charges for Automated Teller Machine (ATM) transactions. The charges, which take effect on March 1, 2025, will see customers paying N100 for transactions on ATMs of…