By Sodiq Adelakun The Central Bank of Nigeria (CBN) has said it will sanction banks assisting the operations of unlicensed foreign firms. It stated on yesterday in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’,…
The Central Bank of Nigeria (CBN) is playing a critical role to facilitate successful participation of Nigerians in the African Continental Free Trade Area (AfCFTA) agreement. According to the apex bank, its interventions in the real sector of the Nigerian…
…FG says it will repay loan with treasury bills, bonds issuance By Sodiq Adelakun Less than a month to hand over, the Senate has yesterday approved the request of President Muhammadu Buhari to restructure the N22.7 trillion loans the Central…
…Commits towards continued implementation of programmes to drive innovation … Says e-naira is compatible with all generations of mobile devices By Sodiq Adelakun The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele has said that the electronic transaction volumes in…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has pumped N701.4 billion back into circulation in March 2023 as currency in circulation rose to N1.68 trillion, a 71.4 per cent increase compared to N982.1 billion recorded as of the…
Despite economic challenges, political tensions, fuel and naira shortages that slowed down business activities in Q1 2023, credit to the private sector increased an all-time high of N43.07 trillion, with expectations of a further increase in the year. In contrast,…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) says there are no plans to phase out the redesigned Naira notes from circulation. A report had emerged that the apex bank may phase out the new notes over scarcity. CBN’s…
The Central Bank of Nigeria (CBN) showed that the total amount of demand deposits dropped by N210 billion between January and March 2023. According to the reports of the Corporate Finance Institute, “A demand deposit is money deposited into a…
The Central Bank of Nigeria (CBN) says no plans to phase out the redesigned Naira notes from circulation. CBN’s Acting Director, Corporate Communications Department, Isa AbdulMumin, made this known in a statement in Abuja on Sunday. The statement was a…
The Central Bank of Nigeria (CBN) has assured Nigerians of safety of their money in banks through operation of the e-naira. Assistant Director Payments System Management Department, CBN, Abuja, Mr Chika Ugwueze disclosed this in Nsukka on Wednesday when he…
