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NMDPRA urges Africa to adopt regional fuel pricing

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World Bank warns Nigeria risks missing AI revolution

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NMDPRA urges Africa to adopt regional fuel pricing benchmark

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Seplat sells 10% JV stake to NNPCL for $281.6m

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Policy and Regulations

Tag: CBN

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 […]

News

CBN halts ‘over-the-counter’ withdrawal of new notes

  The Central Bank of Nigeria has directed deposit money banks not to pay customers who make over-the-counter withdrawals of fresh naira notes. To guarantee that the money circulates across the country prior to the deadline of January 31, 2023, when the old notes will no longer be accepted as legal tender, the central bank […]

Kogi residents lament scarcity of new naira note
News

New naira same as old notes, stains white surfaces – NSPM

  Nigerian Security Printing and Minting Plc has drawn attention to some of the new naira notes’ features in an effort to educate Nigerians who have voiced concerns about the notes’ quality. The company underlined the need to educate Nigerians about the new Naira’s attributes in a statement released on Friday and signed by NSPM’s […]

Banking

Activate rural banking, CBN directs PSBs

  The Central Bank of Nigeria has instructed Payment Service Banks to target those who are financially excluded by operating primarily in rural and unbanked areas. According to the sector’s supervisory framework for Payment Service Banks, PSBs must have at least 25% of their financial service touch points in rural areas that are periodically designated […]

NASS inflated 2025 budget with 11,122 'ghost' projects — BudgIT
Economy

New naira: Extend deadline, Senate urges CBN

The Senate has urged the Central Bank of Nigeria to extend the deadline for withdrawal of old Naira notes from the economy, fixed for January 31, 2023, to June 30, 2023.   CBN had announced in November that the old naira notes of N1,000, N500 and N200 denominations would be withdrawn from circulation by January […]

Economy

New naira: ATMs still dispensing old notes, report reveals

  Thirteen days after the issue of the freshly redesigned N200, N500, and N1,000 notes, and with 34 days till the old notes are no longer legal cash in the country, Automated Teller Machines in Lagos are yet to begin dispensing the new notes. According to Leadership, majority of Lagos’s ATMs are still distributing old […]

News

6,047 BVN on watchlist over fraudulent activities – CBN

  Findings have revealed that the Central Bank of Nigeria has placed at least 6,047 Bank Verification Numbers of bank customers under its watchlist. According to The PUNCH, this was contained in the CBN Financial Stability June 2022 report published in December 2022. 11,871 BVNs have been added to the watch list this year as […]

E-commerce

Naira notes production, destruction costs N800bn – CBN

The Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, has revealed that the CBN spent N800bn between 2017 and 2021 on the production, storage, transportation and destruction of the currency. According to The PUNCH, Ahmad, revealed this on Friday during her appearance before the House of Representatives. Findings by Sunday PUNCH reveal […]

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