CBN Archives

CBN fines banks N1m daily over refusal of new naira

How new CBN withdrawal policy’ll affect SMEs – Expert

Financial experts have said that the Central Bank of Nigeria’s recently imposed withdrawal cap will have more impact on small and medium enterprises. Small company owners in Nigeria worry that the policy will make running their operations more expensive. The maximum weekly cash withdrawal over the counter for business organizations and individuals is now limited […]

jonuorahpdnlimited-com
15th December 2022
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135 Views

News

Adjust cash withdrawal limit, Senate urges CBN

In response to public outcry over its proposed weekly withdrawal on cashless policy, the Senate has urged the Central Bank of Nigeria to significantly adjust withdrawal limits. According to The News Agency of Nigeria, the Senate passed its resolution after the Committee on Banking, Insurance, and Other Financial Matters adopted its recommendations regarding the […]

oamudipepdnlimited-com
14th December 2022
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101 Views

Opinion

‘Why CBN must scrap new cash withdrawal policy’

The Coalition of South East Youth Leaders has rejected the new policy by the Central Bank of Nigeria to limit cash withdrawals. Days ago, the apex bank had, in a bid to encourage cashless transactions, pegged cash withdrawals at N20,000 per day and N100,000 for individuals and N500,000/week for businesses. The development has […]

aadelekepdnlimited-com
13th December 2022
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187 Views

News

Suspend new cash withdrawal limit, Reps order CBN

The House of Representatives has directed the Central Bank of Nigeria, to stop the January 9, 2023, implementation of the new cash withdrawal policy. This is based on a motion of urgent public importance moved by a member of the House, Aliyu Magaji, at the plenary on Thursday. Recall that the apex bank had […]

oamudipepdnlimited-com
8th December 2022
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122 Views

Monarchs begs CBN to extend old naira deadline

News

CBN reduces over-the-counter withdrawal limit

The Central Bank of Nigeria has announced the reduction of over-the-counter withdrawal limit for both individuals and companies. According to Nairametrics, the apex banking institution has pegged withdrawals by individuals and corporate entities at N100, 000 and N500, 000, respectively, per week. The updated cash withdrawal limits will be in force nationwide starting on […]

oamudipepdnlimited-com
6th December 2022
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161 Views

Trapped funds: CBN to give foreign airlines $150m

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Monetary policy’ll reduce inflation by 15% – CBN

The governor of the Central Bank of Nigeria, Godwin Emefiele, has predicted that with the help of the CBN’s numerous monetary policy instruments, inflation rates will progressively decline to less than 15% by the end of 2023. According to data from the National Bureau of Statistics, inflation in Nigeria reached a record high of 5.09 […]

jonuorahpdnlimited-com
26th November 2022
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180 Views

Business featured

Nigeria to reach 95% financial inclusion by 2024 – CBN

The Central Bank of Nigeria has said that it hopes to achieve 95% financial inclusion by 2024. To achieve this, it said the Federal Government has released five strategic policy studies. The apex bank disclosed this in its communiqué no. 145 which was issued following the most recent meeting of its Monetary Policy Committee in […]

jonuorahpdnlimited-com
26th November 2022
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172 Views

Appeal Court overturns Emefiele’s asset forfeiture order

Nigeria’s rising inflation align with global trend – Emefiele

The governor of the Central Bank of Nigeria, Godwin Emefiele, said the steady increase in headline inflation from 15.60 per cent in January to 20.77 per cent in September was consistent with global trends. Emefiele said this at the 57th Annual Bankers Dinner, organised by the Chartered Institute of Bankers Nigeria, on Friday, in Lagos. […]

jonuorahpdnlimited-com
26th November 2022
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113 Views

Emefiele orders banks to dispense old naira notes - Soludo

Economy

Inflation: CBN raises interest rate to 16.5%

The Monetary Policy Committee of the Central Bank of Nigeria have voted to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the communique of the last MPC meeting of the year on Tuesday. The MPC […]

aadelekepdnlimited-com
22nd November 2022
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114 Views

Banking

Naira redesign: We’ll protect unbanked, rural dwellers – CBN

The Central Bank of Nigeria has restated its commitment to protect interests of millions of unbanked and underserved Nigerians, who mostly reside in the rural areas.f The apex bank made this known on Sunday, in a statement by its Director, Corporate Communications, Mr Osita Nwanisobi, against the backdrop of the planned redesign of certain denominations […]

jonuorahpdnlimited-com
14th November 2022
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162 Views

Banking

CBN to introduce new laws against financial system threats

The governor of the Central Bank of Nigeria, Godwin Emefiele, has stated that the apex bank will create a set of new and revised laws, rules, and regulations to tackle threats against the financial service system. These development, he said, would address potential violations, change the incentives for the private sector, and restructure the market […]

jonuorahpdnlimited-com
6th November 2022
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169 Views

Banking Economy

CBN’s plan to redesign naira purely political- Obaseki

Edo State Governor, Godwin Obaseki, has criticized the plan to redesign naira notes, asserting that it is solely a political initiative without any economic justification. He made the statement while while launching the Edo PDP Women Campaign Council at the Presidential Campaign Secretariat in Benin City the state capital. They say we should all bring […]

jonuorahpdnlimited-com
3rd November 2022
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125 Views

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Tag: CBN

How new CBN withdrawal policy’ll affect SMEs – Expert

Adjust cash withdrawal limit, Senate urges CBN

‘Why CBN must scrap new cash withdrawal policy’

Suspend new cash withdrawal limit, Reps order CBN

CBN reduces over-the-counter withdrawal limit

Monetary policy’ll reduce inflation by 15% – CBN

Nigeria to reach 95% financial inclusion by 2024 – CBN

Nigeria’s rising inflation align with global trend – Emefiele

Inflation: CBN raises interest rate to 16.5%

Naira redesign: We’ll protect unbanked, rural dwellers – CBN

CBN to introduce new laws against financial system threats

CBN’s plan to redesign naira purely political- Obaseki

Borno gov raises CJTF, vigilantes’ monthly allowance to.

Kaduna gov pledges 100% water coverage by late.

NELFUND disburses ₦1.326bn to 6,308 UNILAG students

Nigerian nurse loses Australian licence after sleeping on.

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