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Tag: CBN

Access Holdings stocks recover after leadership transition
Business

CBN permits Access Holdings to create consumer lending subsidiary

Access Bank’s parent group, Access Holdings Plc, has acquired CBN approval in principle to establish its consumer lending subsidiary, Oxygen X Finance Company Limited. The Times reported that this is according to a business statement on the NGX website. The statement claimed that the company would begin operations once final approval is secured from the CBN. […]

BVN registration hits 60.2m as CBN deadline nears
News

BVN registration hits 60.2m as CBN deadline nears

The number of people who have registered for a Bank Verification Number has risen to 60.2 million as of January 10, 2024. This was disclosed in the most recent BVN registration data issued by the Nigeria Inter-Bank Settlement System. The BVN database reached at 59.9 million as of December 18, 2023. According to this, between late […]

CBN clears $64.44m forex backlog for airlines
Business News

CBN appoints new CEOs, MD for Union, Keystone, others

Following the Wednesday dissolution of the former board members, the Central Bank of Nigeria has appointed new board members for Union Bank, Keystone Bank, and Polaris Banks. The Central Bank of Nigeria attributed the dissolution to corporate governance shortcomings and regulatory non-compliance. Additionally, the apex bank admitted to engaging in acts that put its financial […]

CBN fails to tackle spraying as cash scarcity bites harder
News

CBN fails to tackle spraying as cash scarcity bites harder

The traditional and cultural practice of spraying(spending) cash during parties in Nigeria has become increasingly challenging to control. A lot of Nigerians can still buy their way into getting enough cash especially in new notes to spray at these events despite the ban by the apex bank. A business man based in the FCT, Adekunle […]

CBN clears $64.44m forex backlog for airlines
featured

Emefiele: Your funds are safe, CBN assures Nigerians

    The Central Bank of Nigeria has issued a strong affirmation regarding the security of funds within Nigerian banks, underscoring the stability of the nation’s banking sector. Amid circulating unverified reports, not originating from the CBN, causing concerns about the health of Nigerian banks, the apex bank urged the public to continue their regular […]

featured News

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 […]

Bitcoin falls below $100,000 in crypto market
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
featured News

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 […]

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