In fulfilment of its commitment to eliminate the backlog of pending matured foreign exchange in Deposit Money Banks (DMBs), the Central Bank of Nigeria (CBN) has recently disbursed approximately US $61.64 million to foreign airlines through various banks. This initiative…
By Sodiq Adelakun The Central Bank of Nigeria has announced that cash withdrawals will no longer be permitted from accounts specifically opened for virtual and digital assets transactions. Instead, withdrawals from these accounts will only be allowed through transfer or…
By Sodiq Adelakun Nigeria’s foreign exchange reserves have fallen to a six-year low of $32.87 billion at the end of December 2023, according to data from the Central Bank of Nigeria (CBN). This is the lowest level since September 2017…
…Learn from past mistakes to safeguard Nigeria’s economy — Expert tells CBN Amidst the persistent cash scarcity plaguing Nigeria, the Central Bank of Nigeria (CBN) has reported a significant increase in currency issuance within the first half of 2023. Despite…
In a recent interview with journalists in Abuja, Mr Okechukwu Unegbu, a financial expert and former president of the Chartered Institute of Bankers of Nigeria (CIBN), commended the Central Bank of Nigeria (CBN) for lifting the restrictions on cryptocurrency transactions.…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has issued a statement reassuring depositors that their funds in banks are secure. The CBN stated that it has become aware of reports in certain media outlets suggesting that the Federal…
She Special CBN Investigator, Jim Obazee, has called on Titan Trust Bank’s (TTB) chairman, Babatunde Lemo, for questioning regarding TTB’s acquisition of Union Bank of Nigeria Plc (UBN). According to The Nation, Lemo, a former deputy governor of the Central…
Again, Nigerians have begun to wail over the unavailability of their country’s legal tender. The naira, other than its free fall against the dollar, has again yielded to absence. PoS operators have hiked charges for this reason by a hundred…
…Stakeholders applaud regulation as potential catalyst for Govt tax revenue industry growth The Central Bank of Nigeria (CBN) has rescinded its previous ban on cryptocurrency transactions. This development emerged from a circular issued on December 22, 2023, signaling a new…
Jim Obazee, President Bola Ahmed Tinubu’s investigator probing the Central Bank of Nigeria, CBN, has revealed that the government is on the verge of recovering two banks illegally sold to former CBN governor, Godwin Emefiele. According to the report, Emefiele…
