The Central Bank of Nigeria (CBN) has said it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a Friday circular by the apex bank which said a BVN or NIN verification will be “conducted...
CBN
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has directed all its branches to continue to issue and accept all denominations of both old and redesigned Naira notes to and from Deposit Money Banks (DMBs). The Acting Director of the bank, Corporate Communications, Mrs...
The Central Bank of Nigeria (CBN) has said it is planning to implement a new round of banking recapitalisation for the Deposit Money Banks (DMBs). Mr Olayemi Cardoso, the CBN Governor, announced this at the 58th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria...
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has clarified that the 43 items were never explicitly prohibited from importation or sale in Nigeria. Cardoso gave this clarification at the 58th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN)...
The Centre for the Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria to implement steps identified to reduce pressure on the foreign exchange market. Dr Muda Yusuf, the Chief Executive Officer of CPPE, gave the advice in an interview with the News Agency of...
The Central Bank of Nigeria (CBN), has expressed optimism that its monetary policy initiatives are yielding the desired results. The bank’s Director, Corporate Communications Department, Isa AbdulMumin said this in Abuja on Wednesday, while speaking on the latest National Bureau of Statistics (NBS) figures. According to him, the...
The Central Bank of Nigeria (CBN) has said the old Naira banknotes will henceforth remain legal “ad infinitum ”. CBN’s Director, Corporate Communications Department, Isa AbdulMumin, said this in a statement on Tuesday in Abuja. It would be recall that the CBN had introduced redesigned N200,...
The Managing Director, 313 Bureau de Change, Alhaji Murtala Bashir, has emphasised the need for collective efforts to ensure the stability of the naira at the Foreign Exchange Market in Nigeria. Bashir made the call in a statement made available to the News Agency of Nigeria (NAN) on...
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has reiterated that his leadership would focus mainly on the core mandate of price stability. According to a statement from the CBN, Cardoso disclosed this recently, while playing host to the Impact Investing Community. The News...
The House of Representatives Public Accounts Committee has summoned the Central Bank of Nigeria (CBN) and 11 Electricity Distribution Companies (DISCOs) in connection with alleged mismanagement of the US$321 million and N18.2 billion loans. The loans were designated for accelerated transmission and distribution interface, lines, and substation projects....
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) on Tuesday said it has no be plans to redenominate Nigeria’s legal tender, the Naira. CBN’s Director, Corporate Communications Department, Isa AbdulMumim, made this known in a statement on Tuesday in Abuja. It would be recalled...
A Federal High Court (FHC), Abuja, on Monday, ordered the Economic and Financial Crimes Commission (EFCC) and Central Bank of Nigeria (CBN) to immediately transfer the sums of $9.8 million and £74,000 recovered from Mr Andrew Yakubu, former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation...
Access Bank Plc, says it has enhanced its Agriculture Desk to boost sustainable agricultural business and attract global investments. The Executive Director, Commercial Banking, Access Bank, Ms Hadiza Ambursa, at a news conference on Wednesday in Lagos, said that the move aimed at improving value for its...
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) on Thursday announced the indefinite postponement of the September version of its bi-monthly Monetary Policy Committee (MPC) meeting. CBN Director of Corporate Communications, Isa AbdulMumin, announced the postponement in a statement in Abuja. Recalled that the...
The Central Bank of Nigeria (CBN), is set to recover loans it granted some categories of Nigerians to ameliorate harsh socio-economic realities. The News Agency of Nigeria reports that the loan initiative involved is the Targeted Credit Facilities (TCF), granted to some Nigerians in 2020 to cushion the...
An economist, Prof. Akpan Ekpo, has urged the Central Bank of Nigeria (CBN) to take seriously the currency swap agreement with Peoples Bank of China (PBoC) to reduce reliance on dollars for trade. Ekpo, a former Director-General of West African Institute for Financial and Economic Management (WAIFEM), gave...
The arraignment of the suspended Central Bank of Nigeria (CBN) Gov. Godwin Emefiele and two others before an FCT Court failed to hold on Wednesday. Though the court sat to hear other cases, no reason was given for the failure of the arraignment of the embattled Emefiele and...
By EMMANUEL KUJE, Abuja – The Human and Environmental Development Agenda (HEDA Resource Centre), a preeminent non-profit organization devoted to championing transparency, accountability, and robust governance in Nigeria, has formally initiated an information request to the Nigerian National Petroleum Corporation Limited (NNPCL). NATIONAL ACCORD reports that...
Some stakeholders in the oil and gas industry have advised Federal Government to develop well-structured government policies that can effectively revive the country’s economy. They gave the advice in a separate interviews with the News Agency of Nigeria (NAN) on Friday in Lagos against the backdrop of the...
The decision of the Central Bank of Nigeria (CBN) under President Bola Tinubu to float the naira is illegal and being challenged in court, human rights lawyer Femi Falana has said. On June 14, at a time when the naira traded between 730 and 755 to the dollar...