CBN

Old Naira Notes Still Valid,CBN Insists

The Central Bank of Nigeria (CBN) has again clarified that the old N1000, N500, and N200 banknotes,are still valid. Mrs. Sidi Ali Hakama,Acting Director,Corporate Communications,clarified this in a statement made available to

December 14, 2024

by Mohammed Shosanya

We Won’t Allow Unverified Funds In Recapitalization Drive, Says CBN

The Central Bank of Nigeria (CBN)is putting in place strong verification processes to ensure that illicit funds do not destabilize the banking sector in its ongoing recapitalization drive. During the 36th Seminar

April 15, 2025

CBN

CBN Explains Sales Of $197.71m Through Authorized Dealers

The Central Bank of Nigeria (CBN) has tied the significant developments in the foreign exchange market between April 3 and 4, 2025, to broader global economic shifts, including the U.S. government’s announcement

April 6, 2025

CBN

Nigeria’s Forex Market Shows Signs Of Stability-Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reported signs of progress in stabilising the foreign exchange market and curbing inflation, as recent policy reforms begin to

March 26, 2025

CBN

CBN Strengthens Regulatory Oversight To Protect Nigeria’s Financial System

The Central Bank of Nigeria (CBN),has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions. At a high-level Mandatory

March 2, 2025

CBN

Cardoso Champions Stronger Nigeria, Saudi Ties

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the bank’s commitment to enhancing economic cooperation between Nigeria and the Kingdom of Saudi Arabia. Mr. Cardoso emphasised

February 24, 2025

CBN

CBN Orders Banks To Publish Dormant Accounts, Unclaimed Balances

The Central Bank of Nigeria (CBN),has ordered banks and other financial institutions to publish the list of dormant accounts, unclaimed balances and other financial assets. The directive was in compliance with the

February 19, 2025

CBN

Why Bank Directors With Bad Loans Must Quit-CBN

The Central Bank of Nigeria has ordered bank directors with non-performing insider-related loans to step down immediately. The Acting Director of Banking Supervision, Adetona Adedeji, issued the directive in a circular on

February 18, 2025

CBN

ATM:CBN Threatens To Penalize Banks Imposing Withdrawal Limits Below N20,000

The Central Bank of Nigeria (CBN),says it will sanction banks that compel customers to withdraw less than N20,000 per transaction from Automated Teller Machines (ATMs) despite having sufficient funds and requesting a higher

February 15, 2025

CBN

CBN Fixes New Date For February 2025 MPC Meeting

The Central Bank of Nigeria (CBN) has fixed February 19 and 20, 2025,as new dates for the 299th meeting of its Monetary Policy Committee (MPC). The meeting was initially scheduled for February

February 10, 2025

CBN

CBN Clears Outstanding $7bn Forex Backlog

The Central Bank of Nigeria (CBN),has cleared the $7 billion foreign exchange (FX) backlog. Its Governor,Olayemi Cardoso,disclosed this on Wednesday,during the launch of Nigeria’s Regulatory Policy Framework at the State House Conference

January 30, 2025

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