By EZEKIEL OBI, Abuja – The Federal High Court in Abuja has ruled in favor of the Incorporated Trustees of Human and Environmental Development Agenda (HEDA Resource Centre) in a case against the Central Bank of Nigeria (CBN). The court’s decision, based on suit number FHC/ABJ/CS/1622/2020, comes after the...
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The Bank Verification Number (BVN) issued by the Central Bank of Nigeria (CBN) was initially to expire after 10 years, PRNigeria Fact-Check discovers. The factcheck was conducted after a viral video disclosed the expiry date, which was later denied by the CBN. While ascertaining the truth in the claim,...
President Muhammadu Buhari recently sent a request to the National Assembly to approve 800 million dollars loan meant to cushion effect of the proposed removal of fuel subsidy. Minister of Finance, Budget, and National Planning, Zainab Ahmed, said that Nigeria secured the World Bank facility as a first tranche...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has debunked reports suggesting that the Bank Verification Number (BVN) issued by the Bank in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) expires after a ten-year period. The CBN Acting Director, Corporate Communications, Isa AbdulMumin, stated this...
The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, said that export proceed repatriation into the country increased by 40 per cent from three billion dollars in 2021 to 5.6 billion dollars at the end of 2022. Emefiele said this at the Bi-annual RT200 Non-Oil Export Summit...
The Debt Management Office (DMO) says the securitisation of CBN’s N22.7 trillion “Ways and Means Advances’’ to the Federal Government will improve debt transparency. “Ways and Means Advances’’ allows the Federal Government to borrow short-term or emergency loans from the CBN to cushion expected cash receipts shortfalls. The Senate...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) says it has 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 reaction to...
Andrew Yakubu, former Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), has sued the EFCC, the Central Bank of Nigeria (CBN) and the Guarantee Trust Bank (GTB) over alleged refusal to release his 9.8 million dollars after a court judgment. Yakubu, through his counsel, Ahmed Raji, SAN, filed the...
Central Bank of Nigeria (CBN), in collaboration with a technical partner, Project GIANT, on Thursday in Kaduna, called on traders of Kawo and Sheik Gumi markets to embrace eNaira as an alternative means of financial transactions. The News Agency of Nigeria (NAN) reports that this was part of the...
Some residents of Abuja and environs have decried the scarcity of the new naira notes. The Central Bank of Nigeria (CBN) has restored the old 200, 500 and 1000 naira notes to remain as legal tender until Dec. 31. A correspondent of the News Agency of Nigeria (NAN) who...
The Nigeria Electricity Regulatory Commission (NERC), says it will soon provide four million prepaid meters to electricity consumers in the country. Aisha Mahmud, NERC Commissioner in charge of Consumers Affairs, disclosed this at the Customers’ Complaints Resolution Meeting Organised on Tuesday in Jos. Mahmud, who described the shortage of...
Barely one month after the reintroduction of old N200, N500 and N1,000 notes, some residents of Anambra have decried the unavailability of the new notes in many banks in the state. Some of them told the News Agency of Nigeria (NAN) in Awka on Monday that they hardly complete...
By OLA MUDOPE, Lagos – The Central Bank of Nigeria (CBN) has approved the appointment of Mr Akinola George-Taylor as the substantive Managing Director/Chief Executive Officer of Heritage Bank. Mr Ozena Utulu, Group Head, Corporate Communications of the bank, disclosed this in a statement on Sunday. The statement said...
Rt. Rev. Christian Onyia, the Bishop, Diocese of Nike Anglican Communion in Enugu State on Saturday urged governments at all levels to focus on job creation to stem rising insecurity and terrorism. Onyia made the call while delivering his Bishop’s Charge at the 2nd session of the 6th Synod of the...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has disowned a fake recruitment portal, created in its name and inviting eligible Nigerians to submit job applications. Its Acting Director, Corporate Communications Department, Dr Isa AbdulMumin, made this known in a statement on Thursday in Abuja. Dr....
A Financial Analyst, Mr Muktar Muhammed, has urged the Federal Government to take steps to increase foreign exchange earnings to stabilise the Naira. Muhammed said this in an interview with the News Agency of Nigeria (NAN) on Saturday in Abuja against the backdrop of depleting foreign exchange reserves of...
The Central Bank of Nigeria (CBN), in collaboration with Bankers’ Committee, on Monday carried out awareness and sensitisation campaign on cashless policy and e-Naira for traders at the popular watt market, Calabar. The awareness campaign featured a popular Nollywood actor, Imeh Bishop-Umoh, popularly called “Okon Lagos”. The Nollywood actor,...
By EZEKIEL OBI, Abuja – The 36 State Governors under the aegis of the Nigeria Governors’ Forum (NGF) have resolved to meet with all the economic and financial agencies in the country to discuss issues surrounding their states’ security votes. The governors disclosed this in a statement issued on...
Wema Bank Plc. on Saturday confirmed the appointment of Mr Moruf Oseni as its substantive Managing Director and Chief Executive Officer with effect from April 1. Oseni, who had been serving in acting capacity since Jan. 1, 2023, succeeds Mr Ademola Adebise, following approval by the CBN. Oseni joined...
The Central Bank of Nigeria (CBN) has urged Nigerians to embrace alternative payment channels such as eNaira, USSD and other internet banking facilities in line with its cashless policy. The apex bank said the idea became necessary as the country was gradually marching towards the alternative payments policy regime,...