Speaker of House of Representatives, Rep. Tajudeen Abbas, has urged all relevant stakeholders to collaborate with the house in its investigation on the alleged forceful retirement of no fewer than 1,000 staff members of Central Bank of Nigeria (CBN). Abbas made the call at the opening of the hearing,...
CBN
The Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ released on Tuesday. According to the circular, the development is in the apex bank’s effort...
The Central Bank of Nigeria has announced a fine of ₦150 million on Deposit Money Banks found guilty of giving out illegal flow of mint naira notes to currency hawkers across the country. The move was after the apex bank addressed recent misinformation about the validity of the old...
By JOY ADARA, Abuja- The Central Bank of Nigeria (CBN) has said all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out. The CBN’s Acting Director, Corporate Communications, Mrs Sidi Ali Hakama, said in a statement on Friday...
With barely two weeks until Christmas and the subsequent new year celebrations, getting cash in Kaduna, Kano and Katsina States has now become an extremely herculean task. The News Agency of Nigeria (NAN) reports that the results have bemoaned the obnoxious situation which was reminiscent of a similar ugly...
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to ensure efficient cash disbursement to the general public over-the-counter and through Automated Teller Machines (ATMs). The directive is contained in a statement jointly signed by CBN’s Acting Director, Currency Operations, Muhammed Olayemi, and Acting Director, Branch...
The House of Representatives has launched an investigation into the planned retirement of 1,000 staff of the Central Bank of Nigeria (CBN) The resolution followed the adoption of a motion of urgent public importance by Rep. Kama Nkemkama (LP-Ebonyi) during plenary on Tuesday. The motion is entitled, “Need to...
By EZEKIEL OBI, Abuja – The Central Bank of Nigeria (CBN) has launched its newly redesigned website, www.cbn.gov.ng, scheduled to go live on Dec. 2. Acting Director, Corporate Communications, CBN, Mrs Hakama Sidi Ali, made this known in a statement issued on Sunday. “We are pleased to announce the...
Some small business operators and residents in the Federal Capital Territory (FCT), have decried the scarcity of Naira notes for various transactions. They spoke to the News Agency of Nigeria (NAN) on Sunday in Abuja. Over the past few days, bank customers had experienced difficulty trying to get cash...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said the bank’s reforms align with efforts to establish a stronger and more resilient African financial architecture. Cardoso said this on Saturday in Abuja during his remarks at the 5th African Union Extraordinary Session of the Specialised...
The Central Bank of Nigeria (CBN) has assured that the Naira’s true value will be restored with the introduction of an electronic FX matching system, which has proven effective in other markets. The Governor of CBN, Olayemi Cardoso, gave the assurance on Friday night during the 59th annual bankers...
The Central Bank of Nigeria (CBN) on Friday advised bank customers to report any difficulties withdrawing cash from bank branches or ATMs to the apex bank from December 1. CBN Governor, Olayemi Cardoso, said this during the 2024 annual bankers dinner in Lagos organised by the Chattered Institute of...
The Nigerian stock market recorded a loss of N209 billion in market capitalisation on Wednesday, as investors reacted negatively to the Central Bank of Nigeria’s (CBN) recent interest rate hike. The Monetary Policy Committee (MPC) of the CBN raised the Monetary Policy Rate (MPR) by 25 basis points to...
A Kano State High Court on Wednesday, reserved ruling in a suit filed by the National Union of Local Government Employees (NULGE) against the Central Bank of Nigeria (CBN) and others from withholding Kano Local Government allocations. The applicant’s are Chairman of NULGE, Ibrahim Muhd, Ibrahim Uba Shehu, Ibrahim...
The Central Bank of Nigeria (CBN), has said the rising food prices is partly responsible for worsening headline inflation in the country. The Governor of CBN, Mr Yemi Cardoso, said this on Tuesday in Abuja, while presenting the communique from the 298th meeting of the apex bank’s Monetary Policy...
The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the Central Bank of Nigeria’s (CBN) sustained tightening of the Monetary Policy Rate (MPR), now at 27.50 per cent. Chief Executive Officer, CPPE, Dr Muda Yusuf, stated in Lagos on Tuesday that the continued rate hikes...
The Central Bank of Nigeria (CBN), has said Nigeria’s Deposit Money Banks (DMBs) are satisfactorily resilient amid both external and internal pressures. The Governor of the CBN, Mr Yemi Cardoso, said this on Tuesday in Abuja while presenting a communiqué issued at the end of the 298th meeting of...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has further raised interest rate by 25 basis points to 27.50 per cent from 27.25 per cent. The Governor of the CBN and Chairman of the MPC, Yemi Cardoso, announced the raise on Tuesday in Abuja, while...
It is not advisable for the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to further tighten the Monetary Policy Rate (MPR). An economic expert, Dr Chijioke Ekechukwu said this in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja. Ekechukwu, a...
A Financial Expert, Prof. Uche Uwaleke, says the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) is likely to raise interest rates again. Uwaleke, the Director, Institute of Capital Market at the Nasarawa State University, is also the President, Capital Market Academics of Nigeria. He said...