Demand deposits surges N29.67tn in May – CBN
Demand deposits have jumped by 206.83 per cent from N9.67tn in May 2019 to N29.67tn this year’s May, according to data from…
CBN
CBN threatens sanction on banks, BDCs rejecting old, small dollar bill
The Central Bank of Nigeria has issued a harsh warning to Deposit Money Banks and registered forex dealers, threatening to impose a…
Nigeria’s FX reserve rise to $34.14bn
Nigeria’s reserves continued to rise, reaching $34.14 billion on Friday, up 4.06 percent from $32.74 billion on June 3, 2024, according to…
Banks to deposit excess FX in CBN Lagos, Abuja offices
The Central Bank of Nigeria on Friday published updated guidelines for Deposit Money Banks to deposit surplus foreign currency notes at its…
FG raises N284b in treasury bills auction
The Federal Government, through the Central Bank of Nigeria, raised a total of N284.26 billion in the latest Nigerian Treasury Bill auction.…
CBN stops FX price verification portal for importers
The Central Bank of Nigeria has announced that the foreign exchange price verification system portal used by importers will be discontinued from…
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…
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…