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Naira falls N777 against dollar after CBN announcement
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Private sector credit hits N76.27tn in March – CBN

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IMTO inflows surge 63.7% in 2024 amid CBN reforms

Nigeria’s money supply hits ₦114.22tn in March

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Tag: CBN

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Emefiele denies CBN corruption charges, slams private investigator

The former Governor of the Central Bank of Nigeria, Godwin Emefiele, has dismissed the allegations of corruption and theft levelled against him by a special investigation panel on CBN and other entities.   The panel, headed by a private investigator, Jim Obazee, submitted its report to President Bola Tinubu after probing the CBN’s activities under […]

Emefiele is worse CBN gov in history, says Moghalu
Business

Emefiele is worse CBN gov in history, says Moghalu

Christian George A former deputy governor of Central Bank of Nigeria, Kingsley Moghalu, said that the former apex bank governor, Godwin Emefiele, is the worst CBN governor in history. This came on the premise of the recent investigation report on the apex bank which indicted Emefiele of misappropriation of funds. The apex bank’s former deputy […]

Crypto market hits $3.5trn, altcoins shine in bull run
Business

Why CBN’s cryptocurrency approval will increase govt income – Operators

Crypto ecosystem stakeholders have stated that regulating cryptocurrencies will provide new tax income for the government. The PUNCH reported that they spoke after the Central Bank of Nigeria lifted the prohibition on cryptocurrency transactions in a circular issued on Friday. The banking authority has already instructed all banks to refrain from engaging with cryptocurrency businesses in […]

Emefiele is worse CBN gov in history, says Moghalu
News

Emefiele meets N300m bail conditions, leaves kuje prison

The former governor of the Central Bank of Nigeria, Godwin Emefiele, has been released from Kuje Prison after meeting his bail condition of N300 million naira. The Punch stated that Emefiele, who is being tried for a N1.2 billion procurement scam, was discharged on Friday. The spokesperson for the Kuje Correctional Centre in the FCT, Adamu Duza, confirmed […]

The Central Bank of Nigeria has issued a circular aimed at addressing suspected cases of excessive foreign currency speculation and hoarding by Nigerian banks.
featured News Tech

CBN lifts restriction on bank crypto transactions

The Central Bank of Nigeria has lifted the ban on banks facilitating cryptocurrency transactions and has issued guidelines for financial institutions engaging with entities providing crypto services. This move comes two years after calls from crypto enthusiasts and companies for the apex bank to lift the restriction. According to a circular sent to banks and […]

BVN registration hits 60.2m as CBN deadline nears
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BVN enrollment nears 60m ahead of CBN deadline

As the Central Bank of Nigeria’s December 18, 2023, deadline approaches for the registration for the Bank Verification Number, the number of registered Nigerians has hit 59.9 million. This is according to the latest BVN registration data update released by the Nigeria Inter-Bank Settlement System, as seen by AMBusiness. The most recent NIBSS data, issued […]

Speculative FX demands cause of weak naira - CBN
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CBN, NIMC, others to create consumer credit framework in Nigeria

The Presidential Council on Industrial Revitalization has formed a Technical Working Group comprised of representatives from the Central Bank of Nigeria, the National Identity Management Commission, and the Federal Competition and Consumer Commission to develop a framework to improve consumer credit in Nigeria. According to Nairametrics, the National Insurance Commission, the National Institute of Credit Administration, […]

CBN to rename forex market amidst economic shifts
Banking

Nigerian banks didn’t fail international authorization requirements – CBN

The Central Bank of Nigeria has assured the public that the Nigerian banking industry is strong and that banks are meeting various regulatory requirements. According to Nairametrics, reports claiming that Nigerian banks are failing the Capital Adequacy Ratio stress test for international authorization ought to be disregarded, according to a statement titled “CBN Assures That Nigerian […]

CBN
Business

NES seeks CBN collaboration

The Nigerian Economic Society has identified two areas in which it hopes to enhance cooperation in order to support development and growth with the Central Bank of Nigeria. The Punch reported that the governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso, received a courtesy visit from the President of NES, Prof. Adeola Adenikinju, according to a […]

Equity investors lose N1.5tn as bond yield rises
Banking

FX backlog: CBN pays 31 banks in parts

The Central Bank of Nigeria announced that it made tranche payments to 31 banks in order to erase a backlog of foreign exchange forward obligations. According to The Times, in order to handle the foreign exchange concerns, the apex bank further revealed that it had established frameworks for foreign exchange. This information was revealed on Friday […]

Equities market investors lose N481bn as glory trend continues
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CBN postpones MPC meeting

Juliet Buna The Central Bank of Nigeria has postponed the Monetary Policy Committee meeting yet again after the same was done in September. According to Nairametrics, this development indicates that the new Governor of the CBN, Mr Olayemi Cardoso, has yet to hold the crucial rates-setting meeting since he took over the post. The central […]

CBN, NBET, others owe N180bn energy debt - NDPHC
Electricity

CBN, NBET, others owe N180bn energy debt – NDPHC

The Central Bank of Nigeria and the Nigeria Bulk Electricity Trading Company are estimated to owe between N150 billion and N180 billion for their debts related to Nigeria’s power system, according to the Managing Director of the Niger Delta Power Holding Company, Chiedu Ugbo. According to The Times, the MD said “The market owes NDPHC hundreds of […]