CBN Stops Foreign Currency As Collateral For Naira Loans
The Central Bank of Nigeria (CBN) has directed all banks to ban the use of foreign currency denomination as collaterals for naira loans. This was contained in a circular directed…
Forensic Audit Of CBN Underway – President Tinubu
President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent. The President disclosed this during…
CBN Raises Monetary Policy Rate To 18.75%
Central Bank of Nigeria has raises the monetary policy rate from 18.5 to 18.75 percent. The hike in rate was announced by the Bank’s Acting Governor, Mr. Folashodun Shonubi, at…
CBN Unfreezes 440 Bank Accounts Of Individuals, Companies
The Central Bank of Nigeria has directed Banks to vacate a post-no-debit Restriction placed on Bank Accounts of 440 Individuals and Companies. This is coming two years after the Apex…
CITAD Commends Suspension Of Social Media Handles Collection
Centre for Information Technology and Development (CITAD), has commended the House of Representatives, for suspending the collection of customers social media handles by commercial banks. This was contained in a…
Reps Halts CBN Implementation Of “Know Your Customer” Directive
House of Representatives has urged the Central Bank of Nigeria CBN, to halt the implementation of the “Know Your Customer” KYC directive. This was sequel to the adoption of a…
CBN Lifts Restriction On FX Withdrawal, Deposit
Central Bank of Nigeria (CBN) has issued further guidance on operational changes to foreign exchange market allowing Domiciliary account holders to use cash deposits or electronic transfer up to $10,000…
New Naira Notes: Commercial Banks Adhere To CBN Directives In Kano
Following directives by the Central Bank of Nigeria (CBN), to Commercial Banks on the issue of making Naira Notes much available to customers , Normalcy has began to surface in…
Ngige, NLC, CBN Meet To Avert Protests
Minister of Labour and Employment, Dr Chris Ngige, CBN Governor, Godwin Emefiele meet with Labour Union Leadership Federal Government has taken steps to avert the impending nationwide strike scheduled by…
Naira Scarcity: CBN Directs Banks To Open Saturdays, Sundays
Central Bank of Nigeria (CBN) has directed commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various…