The Central Bank of Nigeria (CBN) says banks facilitating illicit flow of mint naira notes will face N150 million fine per branch. In a circular signed by Solaja Olayemi, the acting director of currency operations department, the CBN expressed concern over…
The court of appeal in Abuja has set aside the judgment restraining the Central Bank of Nigeria (CBN) from disbursing financial allocations to the Rivers state government. The three-member panel, on Friday, ruled that the subject matter of the state’s…
The Central Bank of Nigeria (CBN) has reassured the public that both the old and redesigned naira notes will continue to serve as legal tender without any deadline. In a statement on Friday, Hakama Sidi Ali, CBN’s acting director of…
The House of Representatives has urged the Central Bank of Nigeria (CBN) to shut down illegal loan platforms used by criminals operating the “one chance” scheme. This resolution was passed on Wednesday following the adoption of a motion of urgent…
The Central Bank of Nigeria (CBN) has denied the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,301 per dollar. In a post on X, formerly Twitter, on Tuesday, CBN clarified that the circular did…
By Olawale Afolabi The Central Bank of Nigeria (CBN) has dismissed claims that it is selling foreign exchange (FX) to eligible Bureau de Change (BDC) operators at N1,301 per dollar. In a statement posted on X on Tuesday, the CBN…
Vice President Kashim Shettima has called on the Central Bank of Nigeria and commercial banks to urgently address the growing concerns surrounding high and arbitrary charges imposed by Point-of-Sale operators, which he described as an impediment to financial inclusion in…
The Central Bank of Nigeria has granted the merger of Providus Bank and Unity Bank. This was disclosed in a statement signed by the acting Director, Corporate Communications, Hakama Sidi, on Tuesday, adding that the action is in line with…
The House of Representatives has directed the Central Bank of Nigeria (CBN) to immediately halt its planned mass retirement of 1,000 staff members, expressing concerns over the potential negative impact of such a large-scale reduction in workforce on the bank’s…
The Central Bank of Nigeria is set to retire around 1,000 of its employees by the end of the year, according to sources within the bank. The retirement process is expected to cost the CBN over N50 billion in severance…
