Nigeria has recorded a major diplomatic and economic breakthrough at the just-concluded 39th Session of the Executive Council of the African Union, securing a permanent seat on the Board of the African Central Bank in a move widely seen as a boost to the country’s leadership role in Africa’s...
Central Bank of Nigeria (CBN)
Trial of the former Governor of Central Bank of Nigeria, CBN, Godwin Emefiele before Justice Maryanne Anineh of the Federal Capital Territory High Court, FCT, High Court, Maitama, Abuja, continued on Tuesday, February 10, 2026 with the refusal of the court to grant a motion of adjournment of proceedings...
Prosecution Witness Seven, PW7, Eneanye Chinedu in the trial of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on alleged unlawful printing of new naira notes on Wednesday, January 28, 2026 told the Federal Capital Territory, FCT, High Court, Abuja, presided over by Justice Maryanne Anineh...
Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are becoming too much for citizens. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, appealed to the Central Bank of Nigeria...
Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have challenged the jurisdiction of the Federal High Court in Abuja to entertain a suit filed by Aso Savings & Loans Plc and Union Homes Savings & Loans Plc over the revocation of their operating licences. At...
Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, reversing the deficit recorded in the previous quarter, according to figures released by the Central Bank of Nigeria (CBN). The apex bank attributed the positive outcome to a sustained current account...
Nigerian banks will commence the deduction of a ₦50 stamp duty on electronic transfers of ₦10,000 and above from January 1, 2026, in line with the implementation of the Tax Act. The development was communicated to customers through official notices issued by several financial institutions ahead of the policy’s...
In a move aimed at boosting confidence, security and ease of payments, the Central Bank of Nigeria (CBN) has directed banks and other financial institutions to enforce multi-factor authentication on foreign-issued card transactions carried out in the country. The new directive, contained in a circular dated December 18, 2025,...
Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent regulatory breaches and deep-seated financial weaknesses at the two primary mortgage banks. The decision was announced in a press release issued on Tuesday by...
House of Representatives has directed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before its Committee on Public Accounts following revelations of more than ₦5 trillion in unremitted operating surplus and ₦11 trillion in revenues linked to the Remita collection system. The decision came...
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF), reaffirming the Bank’s commitment to strengthening Nigeria’s agricultural sector. He highlighted the Scheme’s vital role in de-risking agricultural lending since 1977 and called for a more innovative,...
By PHILIP IKPONGKO, Abuja – All is now set for the grand celebration of the 30th Anniversary of Club De Pals Abuja, the foremost socio-cultural association of Tiv professionals resident and working in the federal Capital Territory (FCT) and its environs. The grand celebration, scheduled to hold on Saturday,...
In a move that marks one of its most significant cash-policy overhauls in recent years, the Central Bank of Nigeria (CBN) has officially removed the long-standing limit on cash deposits and raised the weekly withdrawal allowance for individuals to N500,000—a five-fold increase from the previous N100,000 cap. Corporate account...
Central Bank of Nigeria (CBN) has distanced itself from an organisation operating as Zuldal Microfinance Bank Limited, cautioning Nigerians that the entity is not licensed to conduct any form of banking or microfinance services in the country. In a statement issued by the Acting Director of Corporate Communications, Mrs....
Socio-Economic Rights and Accountability Project (SERAP) has urged the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso “to promptly account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, as documented in the recently published 2022 annual report by the Auditor-General...
Economic and Financial Crimes Commission, (EFCC), Chinelo Eneanya, on Thursday told a n Abuja high court, that former Central Bank of Nigeria Governor, Godwin Emefiele’s Naira notes redesign brought economic hardship to Nigerians. Eneanya, an investigator with the EFCC was the seventh prosecution witness (PW7)in Emefiele ‘s trial on...
Afreximbank’s Executive Vice-President, Dr. George Elombi, has shed light on the transformative leadership of Professor Benedict Oramah, whose decade at the helm turned the institution from a modest US$6 billion entity in 2015 into a continental giant boasting assets of over US$40 billion. Speaking at a farewell conference in...
Nigeria’s inflation rate has fallen to 18.02%, marking its lowest level in three years and continuing a six-month streak of decline, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso. Speaking in Washington on Thursday during the ongoing IMF and World Bank Annual Meetings, Cardoso...
Federal High Court sitting in Abuja has dismissed objections filed by the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) in a case brought by the Osun State Government over withheld local government allocations. The suit, initiated by the Osun Attorney-General, is aimed at preventing...
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...