CBN record $172m rise in diaspora remittance one month
The Central Bank of Nigeria recorded a $172 million rise in direct remittances in one month. The recent CBN statistics reviewed indicated…
CBN
Banks’ loan from CBN declines 10.6% to N10.9trn
Bank borrowing from the Central Bank of Nigeria decreased by 10.6 per cent month on month in May to N10.9 trillion. The…
CBN, IFC partner to develop strategies on private sector growth
The Central Bank of Nigeria, the members of the World Bank Group, and the International Finance Corporation have partnered to develop strategies…
Pastor spearheaded Islamic Bank in Nigeria, says Cardoso
The Central Bank of Nigeria announced that there will be an increase in Islamic banking in the financial sector. This disclosure was…
CBN grants provisional licence to Greenwich Merchant Bank
Greenwich Merchant Bank has secured approval in principle from the Central Bank of Nigeria to transition into a holding company structure. This…
JUST IN: CBN lifts ban stopping Opay, Palmpay, others from onboarding new customers
Alex Omenye The Central Bank of Nigeria has lifted a six-week ban on onboarding new customers for five of the country’s leading…
CBN revokes Heritage Bank’s license
The Central Bank of Nigeria has revoked the banking license of Heritage Bank. This comes following a report that officials from the…
CBN clears $831m foreign airlines’ trapped funds – IATA
The International Air Transport Association has confirmed that the Central Bank of Nigeria has cleared foreign airlines trapped funds worth $831m from…
International oil firms get CBN’s permission to sell 50% of proceeds
The Central Bank of Nigeria has said that international oil companies can sell their retained 50 per cent earnings of repatriated export…
FX demand drops by $9bn I. 12 months – CBN
Data from the Central Bank of Nigeria shows that demand for foreign exchange fell by 42 per cent year-on-year by individuals and…
CBN amends guidelines for BDC operators
The Central Bank of Nigeria has revised its regulatory guidelines for Bureau De Change operators after consulting with stakeholders. The changes include…
Private sector laments loan repayment as interest rate hits 26.26%
Onwubuke Melvin The latest hike in the country’s benchmark interest rate by the Monetary Policy Committee has raised concern among members…