An Ikeja Special Offences Court has ordered the Economic and Financial Crimes Commission (EFCC) to provide an investigative report and e-statement of Keystone Bank with the Central Bank of Nigeria (CBN). Justice Rahman Oshodi made the order on Tuesday in the ongoing N20 billion fraud trial involving the former...
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The seventh prosecution witness, Mr John Adetola, told an Ikeja High Court that he did not document the alleged $400,000 he handed to the former Central Bank Governor (CBN), Godwin Emefiele. Adetola, an executive assistant to the former CBN governor, said this on Monday while being cross-examined by Emefiele’s...
The Federal High Court in Abuja on Monday, fixed July 4 for judgment in the suit filed by the Nigeria Inter-Bank Settlement System (NIBSS’) Plc against the Central Bank of Nigeria (CBN) and others. NIBSS, in the suit, is seeking an order to prevent any institution from challenging its...
By EZEKIEL OBI, Abuja- Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to disclose the details of any direct payments to the 774 local government councils in Nigeria including the amounts sent to each council.” SERAP’s suit...
The Chartered Institute of Treasury Management (CITM) on Friday called on Nigeria’s monetary authorities to consider partially backing the Naira with gold reserves as a means of stabilising the currency. The Institute’s Registrar, Mr Adedoyin Olumide, who made the call during an interview with the News Agency of Nigeria...
For the first time since February 2024, the Central Bank of Nigeria (CBN) has maintained the Monetary Policy Rate (MPR) at 27.5 per cent. CBN Governor Yemi Cardoso announced the decision on Tuesday in Abuja following the 300th Monetary Policy Committee (MPC) meeting. Cardoso said all 12 MPC members...
The Federal High Court in Abuja on Monday, fixed May 26 to hear a suit filed by the Nigeria Inter-Bank Settlement System (NIBSS’) Plc against the Central Bank of Nigeria (CBN) and others NIBSS, in the suit, is seeking an order to prevent any institution from challenging its statutory...
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) on Tuesday officially inaugurated the Non-Resident Bank Verification Number (NRBVN) platform in Abuja. According to the apex bank, this innovative digital gateway allows Nigerians in the diaspora to obtain a BVN remotely without the...
The Naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira lost N5.49. This represents a 0.34 per cent loss when compared to the N1,596.69 per dollar recorded on Wednesday, April 30,...
Nigeria’s political landscape never ceases to astonish and amaze. In addition to our habitually surprising electoral outcomes, our politicians are dramatists of immense creativity. They have an uncanny ability to literally convert things into their opposities and still retain public attention and ignite curiosity and sustain interest. They have...
Central Bank of Nigeria (CBN), has approved the request by the 2025 Hajj intending pilgrims to be granted cash transactions for the holy pilgrimage to the Kingdom of Saudi Arabia. This followed the intervention of Vice-President Kashim Shettima, who appealed to President Bola Tinubu on behalf of the pilgrims...
The Central Bank of Nigeria (CBN) has been urged to intensify efforts to save indigenous businesses and industrial sector from total collapse. The President, Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Chief Odeiga Jideonwo, made the call at the CBN Special Day at the ongoing 36th Enugu...
Central Bank of Nigeria (CBN), Damaturu Branch, on Thursday donated fire-fighting equipment to the Ultra-Modern Police Hospital, Damaturu, as part of its Corporate Social Responsibility (CSR) initiative. The CBN team, led by Branch Manager Mr Umar Wadata, included the Head of Banking, Hajiya Amina Ningi, along with other staff...
The Nigeria Deposit Insurance Corporation (NDIC) has said it would begin the payment of the first tranche of liquidation dividends to depositors of Heritage Bank from April. It would be recalled that Heritage Bank operating licence was revoked by the Central Bank of Nigeria (CBN) on June 3, 2024....
By JOY ADARA, Abuja- The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022. The acting Director, Corporate Communications, CBN, Mrs....
The Central Bank of Nigeria (CBN) on Friday supplied a total of $197.71 million to the foreign exchange market through sales to authourised dealers. The apex bank’s Director of Financial Markets Department, Dr Omolara Duke, disclosed this in a statement on Saturday in Abuja. She noted that the intervention...
By JOY ADARA, Abuja – The Central Bank of Nigeria (CBN) has disowned a viral circular claiming the introduction of ₦5,000 and ₦10,000 banknotes. The apex bank in a post on its X handle described the circular as “fake” and urged the public to verify information through its official...
The Senate, on Tuesday, confirmed the nomination of Prof. Melvin Ayogu as a member of the Board of Directors of the Central Bank of Nigeria (CBN). The approval was sequel to the presentation of the report of the Senate Committee on Banking, Insurance and other Financial Institutions during plenary....