By Sodiq Adelakun Starting from March 1, 2024, individuals holding Tier-1 bank accounts and wallets in Nigeria will be required to have either the Bank Verification Number (BVN) or National Identity Number (NIN), or both. This announcement was made by…
By Sodiq Adelakun In a significant announcement on Wednesday, the Central Bank of Nigeria (CBN) has instructed all Nigerian banks and citizens to recognise both old and redesigned Naira notes as legal tender. This directive was communicated through a statement…
The Central Bank of Nigeria (CBN) has directed all its branches to continue to issue and accept all denominations of both old and redesigned Naira notes to and from Deposit Money Banks (DMBs). The Acting Director of the bank, Corporate…
By Sodiq Adelakun Amidst ongoing conversations about a fresh round of recapitalisation, the Central Bank of Nigeria (CBN) has released a statement affirming the robustness of the country’s banking sector. This announcement is particularly significant as it addresses the concerns…
Mr Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), says an efficient judicial system will attract Foreign Direct Investment (FDI). Cardoso said this in Abuja on Monday at the 22nd National Seminar on Banking and Allied Matters for…
…Says CBN repositioning to be a catalyst for economic stability, growth …Apex Bank rules out direct, quasi-fiscal interventions in other sectors of the economy …On MPC meetings: We have fulfilled statutory obligations, our focus is on effectiveness, he says The…
By Sodiq Adelakun In a significant move to address the foreign exchange liquidity issues in Nigeria, the Central Bank of Nigeria (CBN) has completed tranche payments to 31 banks, aiming to clear the longstanding backlog of foreign exchange forward obligations.…
The Central Bank of Nigeria (CBN) has declared that its policy strategies have contributed to the reduction of liquidity in the banking sector to under N100billion as at November 2023. Speaking at the 60th Dinner of the Chartered Institute of…
banks The Central Bank of Nigeria (CBN) says it is planning to implement a new round of banking recapitalisation for the Deposit Money Banks (DMBs). Mr Olayemi Cardoso, the CBN Governor, announced this at the 58th Annual Bankers’ Dinner organised…
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has clarified that the 43 items were never explicitly prohibited from importation or sale in Nigeria. Cardoso gave this clarification at the 58th Annual Bankers’ Dinner organised by…
