CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
The Central Bank of Nigeria has imposed ₦1 billion fines on two of the country’s largest fintech unicorns, Moniepoint and OPay, in…
CBN
CBN loan to govt hits N42trn
The Central Bank of Nigeria’s data reveals a significant increase in credit to the government, which grew by nearly 90%, from N22.14…
CBN to retire 1,000, offers N50bn for severance pay
The Central Bank of Nigeria is set to retire around 1,000 of its employees by the end of the year, according to…
CBN to launch new website today
The Central Bank of Nigeria has officially launched its redesigned website today, December 2, 2024. In a statement signed on Sunday, by…
FX matching system will correct Naira’s true value – Cardoso
The Central Bank of Nigeria, Olayemi Cardoso announced that the upcoming electronic FX matching system will help align the naira-to-dollar exchange rate…
ICYMI: CBN sets Banks’ minimum trade on FX platform at $100,000
The Central Bank of Nigeria has introduced new guidelines for interbank foreign exchange trading, effective from November 25, 2024. These guidelines stipulate…
CBN raises Interest rate to 27.50%
The Central Bank of Nigeria has raised its Monetary Policy Rate by 25 basis points, bringing it to 27.50% from 27.25%. This…
CBN grants six-month extension for BDCs recapitalisation
The Central Bank of Nigeria has extended the deadline for Bureaux De Change operators to meet recapitalisation requirements by six months, according…
CBN to raise interest rate, analysts predict
The Monetary Policy Committee of the Central Bank of Nigeria is expected to maintain its hawkish stance in response to persistent inflationary…
28m Nigerians lack access to formal financial services – CBN
The Central Bank of Nigeria announced on Tuesday that despite a significant reduction in the country’s financial exclusion rate, from 46.3% in…
Oil imports fall by 35% in Q2 – CBN
Nigeria’s oil imports saw a significant decline of 35% in the second quarter of 2024, totaling $2.79 billion, down from $4.31 billion…
CBN unveils guidelines for FX deposit scheme
The Central Bank of Nigeria has released official guidelines for banks on the implementation of the free foreign exchange deposit window recently…