The House of Representatives has urged the Central Bank of Nigeria (CBN) to shut down illegal loan platforms used by criminals operating the “one chance” scheme. This resolution was passed on Wednesday following the adoption of a motion of urgent…
The Central Bank of Nigeria (CBN) has denied the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,301 per dollar. In a post on X, formerly Twitter, on Tuesday, CBN clarified that the circular did…
By Olawale Afolabi The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar. In a statement posted on X on Tuesday, the CBN…
Vice President Kashim Shettima has called on the Central Bank of Nigeria and commercial banks to urgently address the growing concerns surrounding high and arbitrary charges imposed by Point-of-Sale operators, which he described as an impediment to financial inclusion in…
The Central Bank of Nigeria has granted the merger of Providus Bank and Unity Bank. This was disclosed in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, on Tuesday, adding that the action is in line with…
The House of Representatives has directed the Central Bank of Nigeria (CBN) to immediately halt its planned mass retirement of 1,000 staff members, expressing concerns over the potential negative impact of such a large-scale reduction in workforce on the bank’s…
The Central Bank of Nigeria is set to retire around 1,000 of its employees by the end of the year, according to sources within the bank. The retirement process is expected to cost the CBN over N50 billion in severance…
By Matthew Denis In a bid to enhance operational services, the Central Bank of Nigeria (CBN) has announced the launch of a newly redesigned website (www.cbn.gov.ng), expected to be operational today, December 2, 2024. The Acting Director, Corporate Communications, CBN,…
The Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) have agreed to strengthen their collaboration in the exercise of compliance and regulatory functions among MDAs. This indication was given today during a courtesy call on the Registrar-General/CEO…
The Central Bank of Nigeria (CBN), on Tuesday, issued comprehensive guidelines for the operations of the interbank foreign exchange (FX) trading system via the Electronic Foreign Exchange Matching System (EFEMS), pegging the minimum tradable amount at $100,000, with incremental clip…
