Central Bank of Nigeria retains 27.5 percent interest rate
The Monetary Policy Committee of the Central Bank of Nigeria has retained the country’s interest rate at 27.50 percent. Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, disclosed…
CBN orders bank directors with bad loans to resign
The Central Bank of Nigeria has ordered bank directors with non-performing insider-related loans to step down immediately. Insider loans refer to loans granted by a bank to its own executives,…
CBN mum over bulletproof SUVs for governor, deputies
The Central Bank of Nigeria (CBN) has kept mum days after a report emerged that its Governor, Olayemi Cardoso, and four Deputy Governors, Mr Philip Ikeazor, Emem Nnan Usoro, Bala…
CBN denies plans to revoke Unity, Polaris, Keystone banks’ licences
The Central Bank of Nigeria has denied plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank. Online reports had claimed that the apex bank would terminate…
CBN bars crypto bank account operators from cash withdrawal
THE Central of Nigeria (CBN) has disclosed that Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions. The apex bank explained that withdrawals from…
CBN governor explains why economy, public finance is under pressure
The Central Bank of Nigeria (CBN), has indicated that the decline in crude oil output is the single most damaging factor that imperiled Nigeria’s economy in recent time, which has…
Fresh recapitalisation: Bank CEOs, others in merger, acquisition talks
Indications emerged yesterday, that the chief executive officers and other top executives of Deposit Money Banks had begun moves to raise fresh capital to bolster their respective institutions’ capital base…
Old banknote remains legal tender, says CBN
The Central Bank of Nigeria (CBN) has disclosed that every banknote remains legal tender and should not be rejected by anyone, . This is as the apex bank directed all…
BREAKING: Abuja court grants EX- CBN governor Emefiele bail
The Federal Capital Territory High Court has admitted the embattled former Central Bank Governor, Godwin Emefiele, to bail. The court ordered that he should be released to his counsel and…
CBN commences clearing forex forwards backlog
The Central Bank of Nigeria (CBN), has begun to implement the promise of President Bola Tinubu to clear the estimated 7 billion Dollars outstanding foreign exchange obligations of the Federal…