By Sodiq Adelakun The Central Bank of Nigeria has threatened to close bank accounts as the total number of issued Bank Verification Numbers (BVNs) reached 57.96 million as of July 3, 2023, based on data obtained from the Nigeria Inter-Bank…
The Central Bank of Nigeria (CBN) on Thurs day took awareness of its digital currency, eNaira, to the student community in the University of Abuja. According to Mr Joseph Angaye, Deputy Director, Risk Management Department, who led the CBN team,…
By Sodiq Adelakun Bureau De Change operators in Nigeria have decried the Central Bank of Nigeria’s (CBN) exchange rate policy. Recall that the CBN announced the unification of all segments of Nigeria’s foreign exchange market, consolidating all windows into one On…
By Ibiyemi Mathew Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has directed International Money Transfer Operators (IMTOs) to commence remittances pay-out in Naira to beneficiaries. Recall that the apex bank had stopped the RT200 programme and the Naira4dollar…
…Urge banks to halt excess charges, illegal deduction By Seun Ibiyemi The House of Representatives has urged commercial banks in the country to stop excess charges and Illegal deductions from customers. This is even as it directed the Central Bank…
The Central Bank of Nigeria, CBN, says customers of Deposit Money Banks have received N115.45 billion and $22.7 million, respectively, as refunds from failed transactions in the last ten years. Elachi Samuel, an official of the Consumer Protection Department of…
The Central Bank of Nigeria (CBN) has urged Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be take counter security measures to tackle financial risks that may want to circumvent the system. The regulatory urged…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) drew down Nigeria’s foreign reserves and expended $17.81billion to defend the nation’s weak currency, at the foreign exchange (forex) markets in 2022. According to the apex bank in its Annual CBN…
By Sodiq Adelakun Amid liquidity crunch in the banking sector, banks in Nigeria are increasingly relying on the Central Bank of Nigeria, CBN, for liquidity as their borrowings from the apex bank intensifies. Data from CBN shows that within the…
The intervention of Central Bank of Nigeria (CBN) in the nation’s healthcare system is developing the capacity of the sector to meet potential increase in demand for healthcare products and services. The scheme is meeting the expectation of increasing private…
