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
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…
BREAKING: CBN raises interest rate to 26.25%
The Monetary Policy Committee of the Central Bank of Nigeria has increased the benchmark interest rate to 26.25 per cent. This disclosure…
CBN pulls cybersecurity levy circular
Alex Pmenye The Central Bank of Nigeria has canceled its order for banks and payment service providers to collect and send a…
Nigeria recorded $282.61m diaspora remittance in Q1 2024
Nigeria recorded $282.61m in diaspora remittance in Q1 2024. Nigeria recorded a total direct foreign exchange remittance of $282.61 million in the…
CBN unveils 11 Nigerian pre-shipment agents
The Central Bank of Nigeria has approved the appointment of 11 pre-shipment monitoring and evaluation agents for oil and gas exports in…
Interest rates may stay high, says Cardoso
The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has said that the members of the Monetary Policy Committee would…
Banks halt collection of processing deposit fees
Some of the major banks have stopped the collection of processing fees on deposits in line with the Central Bank of Nigeria’s…