CBN Archives

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
0 Comments
206 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
1 Comment
363 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
1 Comment
311 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
3 Comments
315 Views

Trapped funds: CBN to give foreign airlines $150m

featured Finance tips

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
0 Comments
354 Views

CBN fines banks N1m daily over refusal of new naira

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
4 Comments
325 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
2 Comments
202 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
3 Comments
262 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
0 Comments
261 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
1 Comment
282 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
1 Comment
220 Views

News Uncategorized

CBN destroyed over N6trn notes under Buhari – Report

The Central Bank of Nigeria will have destroyed almost N6 trillion worth of damaged and outdated currency by the end of the regime of the President, Major General Muhammadu Buhari (retd), in May 2023. Data from the CBN’s annual reports between 2016 and 2020 revealed that throughout the five-year period, the apex bank destroyed mutilated […]

jonuorahpdnlimited-com
31st October 2022
3 Comments
239 Views

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Tag: CBN

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

CBN destroyed over N6trn notes under Buhari – Report

BP ousts chairman amid concerns over conduct, oversight

SpaceX demands higher fees from Pentagon over Starlink.

Africa mobilises $498.8m as Ebola death toll hits.

Nigeria, Türkiye sign MoU to boost solid minerals.

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