Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Friday, June 26, 2026, adjourned proceedings in the alleged $4.5 billion fraud trial involving a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his co-defendant, Henry Omoile, till July 9, 2026, for...
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN) has directed banks and other financial institutions across the country to immediately freeze the accounts, assets and financial transactions of 6 individuals and four Bureau De Change (BDC) operators over alleged links to terrorism financing. The directive was contained in a circular dated June...
Central Bank of Nigeria (CBN)has launched the CBN Naira Ambassadors Club to promote respect for and proper handling of the Naira among young Nigerians. CBN Governor Olayemi Cardoso inaugurated the club in the Federal Capital Territory with secondary school students as pioneer members. He said the Naira is legal...
Nigerian banks and their customers lost a combined N134.48bn to fraud between 2020 and 2025, according to data contained in the CBN’s ‘Nigeria Payments System Vision 2028 document.’ The document, obtained from the apex bank’s website, showed that attempted fraud across the banking and payments ecosystem amounted to N187.79bn...
Central Bank of Nigeria (CBN) has directed all financial institutions with digital payment operations to disclose the Ultimate Beneficial Ownership of significant shareholders, citing concerns over transparency, market concentration and data localisation. In a circular issued Monday June 15 to Deposit Money Banks, Payment Service Providers, fintechs and other...
Central Bank of Nigeria (CBN), through the Debt Management Office (DMO), is set to offer N1 trillion worth of Nigerian Treasury bills for subscription at Wednesday’s primary market auction as authorities step up efforts to control liquidity in the financial system. According to a revised second-quarter Treasury bills issuance...
Central Bank of Nigeria (CBN) has increased its yields on Treasury Bills at its latest primary market auction as investor demand surged to more than three times the amount offered. The auction, conducted through the Debt Management Office, offered ₦700 billion across three maturities. The CBN allotted ₦1.243 trillion...
Central Bank of Nigeria (CBN) has approved Abbey Mortgage Bank Plc’s conversion to a regional commercial bank, clearing the lender to offer full banking services beyond mortgages. The approval was announced in a regulatory filing to the Nigerian Exchange. The bank has also changed its name to Abbey Bank...
Central Bank of Nigeria (CBN) overhauled its top leadership on June 1, 2026, redeploying all four Deputy Governors to new directorates in a bid to sharpen monetary policy and boost operational efficiency. The changes, now updated on the CBN website, rotated the DGs across Economic Policy, Corporate Services, Operations,...
Central Bank of Nigeria (CBN) has postponed the implementation of its new geo-tagging regulations for Point-of-Sale (PoS) terminals to August 1, 2026, while also easing part of the policy by widening the permitted operating radius for devices from 10 metres to 70 metres. The directive was contained in a...
Nigeria’s foreign exchange reserves have risen above $50 billion, according to the Central Bank of Nigeria (CBN). CBN Director of Monetary Policy Department, Victor Oboh disclosed this during an interview on TVC News’ _Business Nigeria_ programme on Monday, May 25. According to Oboh the current level of Nigeria’s foreign...
Nigerian banks reported stronger interest income in the first quarter of 2026 as lending rates stayed near record levels and the Central Bank of Nigeria (CBN) kept monetary policy tight. The average maximum lending rate held steady at 28.20% in March 2026, unchanged from February. The rate marked the...
In an era marked by global economic volatility, few nations have demonstrated the strength and foresight of Nigeria’s Central Bank and its Monetary Policy Committee (MPC). The recent decision to retain the Monetary Policy Rate (MPR) at 26.5%, maintain the Cash Reserve Requirement (CRR) for deposit money banks at...
Central Bank of Nigeria (CBN) and commercial banks are reviewing the high volume of transaction alerts sent to customers and complaints about bank charges, CBN Governor Olayemi Cardoso said on Wednesday. Speaking after the 305th Monetary Policy Committee meeting in Abuja, Cardoso said many customers are confused by receiving...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has called on banks to stay vigilant against emerging risks after the banking sector recapitalisation exercise, even as the Monetary Policy Committee kept the benchmark interest rate unchanged. Speaking after the MPC 305th meeting in Abuja, Cardoso said the...
The legal fight between Union Bank and the Central Bank of Nigeria (CBN) is now centered on control of the bank, but for customers the immediate question is whether daily banking will be affected. On March 25, 2026, the Federal High Court in Lagos nullified the CBN’s January 2024...
In a strategic move to bolster its leadership team, First Bank of Nigeria Limited has appointed Dr. Julius Omodayo-Owotuga as an Executive Director, effective May 13, 2026. The appointment was disclosed Thursday in a public notice filed with the Nigerian Exchange Limited and signed by Company Secretary Abiola Baruwa...
Justice Maryanne Anineh of the Federal Capital Territory, FCT, High Court, Maitama, Abuja, on Monday, May 11, 2026 admitted in evidence, newspaper publications tendered by the Economic and Financial Crimes Commission (EFCC) in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele...
Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) that both organisations said would safeguard consumers against fraud while opening opportunities for them to leverage the potentials of the telecommunications and financial sectors. The MoU was signed as NCC and...