Emefiele’s Suspension: Can The President Remove a CBN Governor?
Godwin Emefiele was on Friday suspended from his position as governor of the Central Bank of Nigeria. Daily Report Nigeria reported that Emefiele's suspension was announced via a statement by…
Emefiele For Arraignment Today Over 6.9b Fraud
Suspended Central Bank Governor, Godwin Emefiele will be arraigned today before the Federal Capital Territory High Court, by the Federal government over a N6.9 billion fraudulent charge. Daily Report Nigeria…
Full List as CBN Liquidates 20 Banks
The Nigeria Deposit Insurance Corporation (NDIC) says it paid N1.39 billion to 36,163 depositors of 110 closed microfinance banks and three primary mortgage banks. He said this followed the recent…
NIN/BVN Linkage: CBN sets to Take Action as Deadline Expires
The Nigerian banks, acting on behalf of the Central Bank, have recently notified customers to link their Bank Verification Number (BVN) and National Identification Number (NIN). This is…
CBN Resumes Forex Sales to BDC Operators After 4-Month Suspension
The Central Bank of Nigeria (CBN) has resumed sales of foreign exchange to Bureau De Change (BDC) operators, ending a four-month suspension. On Friday, July 12, 2024, the…
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…