The Central Bank of Nigeria released $547.7m (N823.19bn at the official exchange rate of N1,503.3/$1, as of June 30, 2024) to Nigerians for the importation of food items in the second quarter of 2024. The amount is a reduction of…
By Esther Agbo In the first year of Olayemi Cardoso’s leadership as Governor of the Central Bank of Nigeria (CBN), a renewed emphasis on customer protection and transparency within the banking sector has led to significant refunds to customers. Banks…
The Central Bank of Nigeria (CBN) has said that it is anticipating a wave of innovation around artificial intelligence in the banking sector. The Acting Director, Banking Supervision Department, Dr Adetona Adedeji made this known at the 30th Nigerian Economic…
By Esther Agbo To address public concerns over the stability of Nigeria’s banking sector, the Central Bank of Nigeria (CBN) has reassured Nigerians of the safety and security of their deposits. This reassurance comes amidst rising speculation about the health…
By Matthew Denis The Central Bank of Nigeria (CBN) has reiterated its commitment to safeguarding the deposits of all Nigerians, urging the public not to panic as it implements policies designed to secure funds held in financial institutions nationwide. This…
By Esther Agbo Stakeholders in Nigeria’s economic landscape have called on the Central Bank of Nigeria (CBN) to adjust its monetary policies to provide greater support to the real sector, especially manufacturers and farmers, who face crippling challenges under the…
The Central Bank of Nigeria (CBN) says it sold 543.5 million dollars to authorised dealer banks between Sept. 6 and Sept. 30. According to a statement issued by Omolara Duke, the Director, Financial Markets Department of the CBN, the transaction…
The Head Complaint Management Division, Consumer Protection Department of CBN, Mohammed Muazu, urged customers to study the CBN’s guide to bank charges to know how much they should be charged for any transaction. Muazu advised customers to always study their…
The Central Bank of Nigeria (CBN) says it sold 543.5 million dollars to authorised dealer banks between Sept. 6 and Sept. 30. According to a statement issued by Omolara Duke, the Director, Financial Markets Department of the CBN, the transaction…
The Central Bank of Nigeria (CBN), has announced the introduction of an Electronic Foreign Exchange Matching System (EFEMS), for Foreign Exchange (FX) transactions in the Nigerian Foreign Exchange Market (NFEM). According to a statement issued by Omolara Duke, the Director,…
