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…
Desist From Forex Malpractices or Face Suspension – CBN Warns Banks
The Central Bank of Nigeria (CBN) has once again warned banks to desist from involving themselves in any form of foreign exchange (FX) malpractice or risk their FX operational licence being…
APC Presidential Primary: Party Member Tells Court to Disqualify Emefiele
Naapah Bariledum, a member of the All Progressive Congress in Ward 4, Khana Local Government Area of Rivers State, has asked the High Court in Port Harcourt to disqualify Godwin…
FG Disowns Emefiele, Warns Against Redesigned Naira Notes
The Federal Government has disowned the Central Bank Governor, Godwin Emefiele on bank's new policy to distribute redesigned Naira notes. Emefiele had announced that the apex bank would redesign, produce…
Naira Abusers Will Go to Jail, Says CBN
The Central Bank of Nigeria (CBN) on Tuesday, warned that those abusing the naira will be jailed. According to the Principal Manager, Currency Operations Department, Central Bank of Nigeria (CBN),…
How Naira Redesign Reduced Kidnapping, Banditry – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has revealed how the 200, 500, and 1000 naira notes redesign reduced insecurity in Nigeria. Emefiele restated on Tuesday…