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Tag: CBN

CBN gets new spokesperson
Banking featured

Why BVN has no expiry date — CBN

By Wilson Adekumola   The Central Bank of Nigeria, has reacted to reports suggesting that the Bank Verification Number expires after 10 years, saying that it has no expiry date.   CBN’s spokesman, Dr. Isa AbdulMumin, made the clarification in a statement Wednesday night.   He explained that once the customer’s biometric has been captured […]

Logo and the photo of the Central Bank of Nigeria's building
Maritime

CBN to sanction shipping companies over undocumented cargoes

By Wilson Adekumola   The Central Bank of Nigeria has vowed to sanction shipping companies exporting undocumented cargoes from the country.   According to Vanguard, the CBN Governor, Godwin Emefiele made this known on Tuesday while speaking at the RT200 Non-Oil Export Summit 2023 in Abuja with the theme, “RT200: Challenges and Prospects”.   The […]

Experts warn FG against further violation of debt limit
featured

Experts warn FG against further violation of debt limit

The Nigerian government has been cautioned by a professor of capital markets, Uche Uwaleke, against continuing to exceed the permissible cap on how much money it can borrow from the Central Bank of Nigeria, as specified in the CBN Act. According to The Whistler, Nigeria’s overall debt has increased by 32.5%, from N46.25 trillion ($103.1 billion) to N68.9 […]

IMF logo
Business featured

IMF director warns against retail e-currencies

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has expressed her concerns about the potential risks associated with retail central bank digital currencies. In an interview at the Milken Institute’s 2023 Global Conference on May 1, Georgieva stated that retail CBDCs could have far more room for error than wholesale CBDCs. She explained […]

CBN places 572 bank customers on watchlist
News

CBN places 572 bank customers on watchlist

By Christian George The Central Bank of Nigeria has placed an e-payment ban on the Biometric Verification Number of not fewer than 572 bank customers for fraud related issues. This was made known by the Deputy Director, Payment System Department, Adewuyi Adeyemi during the 34th CBN seminar for finance correspondents and business editors in Calabar, […]

Kogi residents lament scarcity of new naira note
Economy

CBN denies phasing out redesigned naira notes

By Wilson Adekumola   The Central Bank of Nigeria has dispelled the reports going viral including social media platforms that it planned to phase out the newly redesigned N1, 000, N500 and N200 notes.   Vangaurd reported that the Acting Director, Corporate Communications of the bank Dr. Isa AbdulMumim, regarded the reports as “fake news.” […]

A former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu
Uncategorized

Ex-NNPC GMD sues EFCC, others over withheld $9.8m

A former Group Managing Director of the Nigerian National Petroleum Corporation, Andrew Yakubu, has sued the Economic and Financial Crimes Commission, the Central Bank of Nigeria, and Guarantee Trust Bank for allegedly refusing to release his $9.8 million, despite a court ruling in his favour. The News Agency of Nigeria reported that Yakubu was represented […]

Appointments

Buhari urges Senate to reappoint Abubakar as CBN director

The President, Major General Muhamadu Buhari (retd.), has asked the Senate to confirm the re-appointment of Abdu Abubakar as a Non-Executive Director of the Central Bank of Nigeria.   Nairametrics reported that the president’s request was contained in a letter read by the Senate President, Ahmad Lawan, during plenary on Tuesday.   The request for […]

JUST IN: Emefiele orders banks to dispense old naira notes - Soludo
featured Policy and Regulations

Naira crisis: Emefiele’s crime more than electoral fraud, says Soyinka

Nobel laureate, Prof Wole Soyinka, has knocked the Central Bank Governor, Godwin Emefiele, over the hardship that the new naira redesign policy and recent naira notes crisis plunged the entire country into.   Soyinka said this during an interview on Channels TV on Monday, stating that Emefiele’s crime was against humanity and even more than […]

CBN, NiMet collaborate on food security
News

CBN, NiMet collaborate on food security

In order to increase the nation’s food security, the Nigerian Meteorological Agency and the Central Bank of Nigeria have signed a Memorandum of Understanding. According to the News Agency of Nigeria, when a delegation from the CBN visited NiMet on Monday in Abuja, NiMet’s Director-General, Prof. Mansur Matazu, announced that the cooperation will raise Nigerians’ […]

CBN opens eNaira to USSD transaction
E-commerce featured

E-naira’ll reduce naira scarcity – CBN

The Special Assistant on Payment to the Governor of the Central Bank, Mary Fasheitan, has said that the usage of the digital naira (eNaira), will address the current cash scarcity in the country.   The News Agency of Nigeria reported that Fasheitan said this while addressing traders and people of the state in Akure on […]

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