Nigerian Banks Face Widespread Disruptions Amid Simultaneous System Upgrades
The recent wave of core banking system upgrades across Nigeria’s financial sector has left many customers grappling with service...
CBN
CBN Raises Interest Rate to 27.25%, Tightens Monetary Policy Further
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has raised the country’s benchmark interest rate to 27.25%, marking...
Presidency Debunks Rumors: Tinubu Did Not Ask CBN Governor Cardoso to Resign
The Presidency has dismissed reports claiming that President Bola Tinubu asked Yemi Cardoso, the Governor of the Central Bank...
CBN Orders Payment Providers to Begin Tracking PoS Transactions, Issues 30-Day Compliance Deadline
The Central Bank of Nigeria (CBN) has directed all Payment Service Providers (PSPs) to begin tracking Point of Sale...
CBN Refutes License Revocation Rumors for Unity, Polaris, and Keystone Banks
The Central Bank of Nigeria (CBN) has firmly denied circulating rumors about revoking the licenses of Unity Bank, Polaris...
NDIC Begins Refunds for Heritage Bank Depositors
The Nigerian Deposit Insurance Commission (NDIC) has initiated the liquidation process for the failed Heritage Bank, beginning with verification...
Private Sector Fears Loan Repayment Crisis Amid 26.25% Interest Rate
Members of the Organised Private Sector (OPS) and economists have expressed concerns over the recent hike in Nigeria’s benchmark...
EFCC Directs Foreign Missions and Nigerian Embassies to Transact in Naira
The Economic and Financial Crimes Commission (EFCC) has issued a directive to foreign missions and Nigerian embassies, prohibiting them...
CBN releases list of licensed Deposit Money Banks in Nigeria
The Central Bank of Nigeria has announced 44 lists of licensed deposit money banks in Nigeria. The apex bank...
Banks Close 2 Million Accounts Due to BVN, NIN Compliance
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024 to comply with regulatory...
EFCC to Arraign Emefiele on New Charge Regarding Naira Redesign on May 15
The Economic and Financial Crimes Commission (EFCC) is set to arraign the suspended Governor of the Central Bank of...
CBN to sell $10,000 to BDC operators at N1,101/$
The Central Bank of Nigeria (CBN) has announced it will commence the sale of dollars to Bureau de Change...
CBN, EFCC probe banks, firms over alleged forex racketeering
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has revealed that security agencies including the Economic and...
Reps to restrain banks from holding customers’ reversed funds
The House of Representatives, on Tuesday, mandated the Central Bank of Nigeria to restrain commercial banks from holding reversed...
Only foreign borrowing can save naira, clear CBN debts – EIU
International business research firm, Economist Intelligence Unit, has said that the Central Bank of Nigeria does not have the...
BREAKING: CBN warns Nigerians on circulation of counterfeit Naira notes
Amid Nigeria’s currency shortage, the Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes. On Friday, the...