‘We Were Ordered to Accept Old Naira Notes,’ Banks Confused on CBN’s Denial
The denial by the Central Bank Nigeria that it had directed commercial banks to accept the deposition of old N500 and N1,000 notes has left confusion the banks and Nigerians…
CBN Closes 31 Banks In Lagos, 72 Microfinance Banks Nationwide
The Central Bank of Nigeria (CBN) has announced the closure of 31 banks in Lagos, and 72 Microfinance Banks. According to the apex Bank, the action was taken as a…
CBN Orders Banks to Collect Social Media Handles From Customers
The Central Bank of Nigeria has ordered commercial banks to collect social media handles from customers. Daily Report Nigeria reports that the apex bank also mandated banks request for e-mail…
Emefiele Absent in Court, Opts For Plea Bargain
Suspended Central Bank of Nigeria's Governor, Godwin Emefiele has once again avoided a court appearance. Daily Report Nigeria reports that the embattled Emefiele was billed to be arraigned at the…
CBN Orders Suspension of Charges for Cash Deposits
The Central Bank of Nigeria (CBN) has issued a directive to banks, financial institutions, and non-bank financial institutions to suspend charges for cash deposits exceeding N500,000 for individuals and N3,000,000…
CBN Investigates Fresh $2.4bn Forex Scam
The Central Bank of Nigeria (CBN) is investigating foreign exchange transactions worth approximately $2.4 billion. The CBN's governor, Yemi Cardoso announced that the transactions have been deemed ineligible for payment…
CBN Intervenes with $148m to Stabilize Forex Market
The Central Bank of Nigeria (CBN) has sold $148m to 29 authorized dealers in a bid to stabilize the foreign exchange market amid the recent decline in the value of…
CBN MFBs partner to promote financial inclusion, MSMEs
The Central Bank of Nigeria (CBN) has announced a strategic partnership with Microfinance Banks (MFBs) to enhance financial inclusion and stimulate the growth of Micro, Small, and Medium Enterprises (MSMEs)…
CBN Clarifies Validity of Old Naira Notes Amidst Confusion
The Central Bank of Nigeria has put to rest the controversy surrounding the validity of old ₦1000, ₦500, and ₦200 notes, stating that they remain legal tender without any deadline.…
CBN Under Fire As SERAP Demands Reversal of ATM Transaction Fee Hike
SERAP has given the Central Bank of Nigeria (CBN) a 48-hour ultimatum to reverse the newly announced hike in Automated Teller Machine (ATM) transaction fees. It described the hike as…