CBN clamps down on banks over illegal FX sales
The Central Bank of Nigeria has warned to penalize commercial banks that sell foreign currency without authorization. This came after reports that…
CBN
Cash outside banks drops 9.4% despite 2022 naira redesign
The Central Bank of Nigeria’s recently issued audited Financial Statement released on Thursday, discloses that the CBN lowered cash in circulation from N3,322 trillion…
eNaira balances hit N2.5bn in 2022
Nigeria’s central bank’s digital currency, the eNaira, saw a significant increase in total balances in 2022, reaching N2.5 billion. According to Nairametrics,…
Money launders exploiting diaspora remittances – CBN
The acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, has hinted that many cases of trafficking in persons, goods, or…
CBN releases financial report first time in seven years
The Central Bank of Nigeria has released its consolidated financial statements for the years 2015 through 2022, according a TechCabal report. For…
CBN records $2.55bn FX inflows in two months after naira unification
The Central Bank of Nigeria revealed that foreign exchange inflows into the country increased to $2.55 billion in the two months following the…
Inflation: Nigeria doing better than other African countries – CBN
According to the Central Bank of Nigeria, the country’s inflation rate is lower than that of the majority of African countries. This…
SMEs blame economy as non-performing loans hit N1.32trn
Data acquired from the Central Bank of Nigeria has revealed that the total amount of non-performing loans held by banks hit N1.32…
CBN: Tinubu’s special investigator reacts to financial misconduct allegations
A former Chief Executive Officer of the Financial Reporting Council of Nigeria, Jim Obazee, has reacted to slanders over allegations of financial…
CBN recovers $22m, N115bn excessive clients charges after customers complaint
The Central Bank of Nigeria announced that it had recovered $22.8 million and N115.5 billion for various charges that Deposit Money Banks…
Nigerians hold N2.26trn outside banks – CBN
The Central Bank of Nigeria has stated that the value of currency held by the public climbed to N2.26tn by the…
Tinubu assigns special investigator to probe CBN
The Financial Reporting Council of Nigeria’s Chief Executive Officer, Jim Obazee, has been appointed by President Bola Tinubu as a special investigator…