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Nigeria’s electricity transmission losses hit ₦2.61bn in Q1

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Nigeria’s electricity transmission losses hit ₦2.61bn in Q1

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Solid minerals exports hit ₦354bn on reform gains

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Naira trades at ₦1,375/$ in official FX market, ₦1,425/$

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Tag: CBN

News

CBN to sanction banks dispensing old notes

The Central Bank of Nigeria has stated that it would begin to sanction banks who are still dispensing the old naira notes. According to The PUNCH, this was disclosed by the Director of the Legal Services Department of the Central Bank of Nigeria, Mr. Kofo Salam-Alada, during a sensitisation event on the new naira notes […]

featured Policy and Regulations

New naira: Govs, Emefiele meet over policy

Wilson Adekumola Members of the Nigeria Governor’s Forum will on Thursday meet the Governor of Central Bank, Godwin Emefiele to discuss some of the bank’s recent policies. The NGF spokesperson, Abdulrazaque Bello-Barkindo said, in a statement on Tuesday night that “Governor’s plan to engage Emefiele on the economic and security implication of naira redesign and […]

Appeal Court overturns Emefiele’s asset forfeiture order
News

Police storm Emefiele’s Abuja residence

Oluwanifemi Ojo Operatives of the Nigeria Police Force reportedly stormed the Abuja residence of the Central Bank Governor, Godwin Emefiele, The PUNCH reported. AMBusiness reports that this is coming about 24 hours after the operatives of the Department of State Services stormed the CBN governor’s office, following his return to the country on Monday after […]

Kogi residents lament scarcity of new naira note
News

Kogi residents lament scarcity of new naira note

Oluwanifemi Ojo As the deadline issued on the old naira notes by the Central Bank of Nigeria draws closer, some of the Kogi State residents have lamented the scarcity of the new banknotes. The News Agency of Nigeria reported that most banks in Kogi State are yet to distribute the new note to the public […]

Emefiele orders banks to dispense old naira notes - Soludo
News

Emefiele ready for MPC after resumption – CBN

The Central Bank of Nigeria has confirmed that its governor, Godwin Emefiele, is fully focused on the first Monetary Policy Committee meeting of the year 2023 amid rumoured arrest attempt made by the Department of State Services. The apex bank made this known in a statement released on Monday by its Director, Corporate Communications, Osita […]

News

PoS operators won’t increase service charge – AMMBAN

The Association of Mobile Money and Bank Agents in Nigeria have said they have no plans to increase their service charges.Speculations have gone round following the Central Bank of Nigeria’s decision to review cash withdrawal limits for Automated Teller Machines and over-the-counter withdrawals, that Point of Sale operators might have to increase their charges to […]

News

CBN’s problem is not Emefiele, says Obi

The Presidential Candidate of the Labour Party, Peter Obi, has stated that the problem of the Central Bank of Nigeria is not with its president, Godwin Emefiele. Obi, while speaking at the Chatham House in London on Monday stated that if elected as the president of Nigeria in the 2023 presidential election, he will ensure […]

Ondo court orders CBN to freeze Polaris bank account
News

Ondo court orders CBN to freeze Polaris bank account

The Central Bank of Nigeria has been directed by an Ondo High Court to freeze the account of Polaris Bank over a judgment debt of N2,162,561,509.84k. According to the Nation, the verdict was delivered by the presiding judge, Justice Adebusoye, in an application filed by Ondo Attorney General and Commissioner for Justice, Sir Charles Titiloye. […]

E-payment transaction hits N387trn in 2022 –NIBSS
Economy

E-payment transaction hits N387trn in 2022 –NIBSS

  Findings have revealed that Electronic payment transactions in Nigeria rose to N387 trillion in 2022. According to Nairametrics, this was obtained from the data released by the Nigeria Inter-Bank Settlement System. It was gathered that the value recorded on the NIBSS Instant Payment represents a 42% increase over the N272 trillion recorded in 2021. […]

News

Emefiele: Our stance won’t be compromised, vows SSS

The State Security Service has vowed not to compromise its stance on enforcing good economic policies in support of the President, Major General Muhammadu Buhari’s (Ret’d.) regime.   The SSS disclosed this in a statement by its spokesperson, Peter Afunaya, in response to protests against its plan to detain the Central Bank Governor, Godwin Emefiele, […]

Banking

Load ATMs with new naira, CBN orders banks

The Central Bank of Nigeria has ordered commercial banks across the country to comply with its earlier directive to dispense the new naira notes on their Automated Teller Machines.   The CBN director of currency operations, Ahmed Umar, in a statement on Monday, mandated all the banks to stop loading their ATMs with the old […]

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