Cardoso to Retire Emefiele’s Directors
At least eight directors at the Central Bank of Nigeria (CBN) are going to be asked to retire early this week. Some of these directors were moved to another part…
BREAKING: CBN Raises Interest Rate to 26.75% to Combat Soaring Inflation
The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) by 50 basis points to 26.75%, up from 26.25%, in a bid to curb the country's escalating…
Nigeria’s External Reserves Hit 22-month High
Nigeria's external reserves have reached a 22-month high of $37.31 billion, according to data from the Central Bank of Nigeria. ”The external reserves represent the country's stock of foreign currency…
Reps Order CBN to Immediately Address Cash Scarcity
The House of Representatives has ordered the Central Bank of Nigeria to provide solution to the ongoing cash scarcity in commercial banks across the country. According to the lawmakers, the…
CBN Warns Banks Against Limiting ATM Withdrawals Below ₦20,000
CBN has warned banks against limiting ATM withdrawals to amounts below ₦20,000 per transaction. The CBN stated that any bank that compels a customer to withdraw less than ₦20,000 per…
CBN Explains What Cryptocurrency Ban Means For Nigerians, Banks
The Central Bank of Nigeria has explained the reason behind the recent embargo on cryptocurrency trading in the country, as well as those affected by it. This is even as…
CBN To Set Up Finance Centre At Eko Atlantic City in 2022
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) says the Apex bank will set up an international financial centre at the Eko Atlantic City by the second quarter…
CBN Announces Date For Circulation of Redesigned Naira Notes
The Central Bank of Nigeria (CBN) has said it will start issuing redesigned naira notes from December 15, 2022. This was disclosed by its Governor Godwin Emefiele in Abuja. He…
Naira Redesign: Dollar May Crash to N200 – EFCC
The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has said the dollar might drop to N200 following the redesigning of the naira. Bawa stated this when…
CBN Bans Dollar Payment For Domestic Transactions, Launches AfriGo Card
The Central Bank of Nigeria (CBN), in conjunction with the Nigerian Interbank Settlement System (NIBSS), has launched the Nigerian National Domestic Card Scheme named, AfriGo, aimed at creating a more…