•Former President Muhammadu Buhari House of Representatives is probing the Central Bank of Nigeria (CBN) and relevant ministries, departments and agencies (MDAs) on the disbursement of about N1.12 trillion through the Anchor Borrowers Programme (ABP). Chairman of the House Committee on Nutrition and Food Security, Chike Okafor, who spoke at th...
•Naira notes The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month. According to the latest Afrinvest Monthly Market Report titled, ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped ...
Depositors with N5 million and above in the recently revoked Heritage Bank have called on the National Assembly to urgently intervene in their plight, urging the Central Bank of Nigeria (CBN) to reconsider its decision. Many of the affected customers said they have been thrown into severe financial distress, with their businesses and livelihoo...
Following a motion of urgent public importance, the House of Representatives has passed a resolution calling for the suspension of the increase in Automated Teller Machine (ATM) transaction charges and the stoppage of free ATM withdrawals for customers from other banks in Nigeria. The motion moved by a member, Marcus Onobun, drew the attention...
A significant leadership shakeup in the Central Bank of Nigeria (CBN) has resulted in the appointed of 16 new directors across key departments in the apex bank. These appointments, which took effect from March 3, affect crucial departments, including: Monetary Policy; Trade and Exchange; Banking Supervision; Payment Systems and Consumer Protec...
•FCT Minister Wike and Governor Fubara The Supreme Court orders Central Bank of Nigeria (CBN) to stop release of funds to Rivers State government forthwith until a proper House of Assembly is constituted. The court also ordered Martin Amaewhule to resume sitting immediately with all elected members. … developing storyÂ
•Nigerian Senate and CBN Governor Yemi Cardoso The Senate Ad-hoc Committee on Ways and Means Advance has accused the Central Bank of Nigeria (CBN) of frustrating its investigation into the N30 trillion Ways and Means Advance and the Anchor Borrowers’ programme under former President Muhammadu Buhari’s administration. The committee made the acc...
The Supreme Court has overturned a garnishee order issued against the Central Bank of Nigeria (CBN) in an attempt to recover a N50 million judgment debt against the Inspector General of Police (IGP) and others. In a ruling yesterday, a five-member panel of the apex court set aside the proceedings in the case filed by […]
Bank directors with non-performing insider-related loans have been given a quit order by the Central Bank of Nigeria (CBN). They are to step down immediately. The apex bank gave the directive in a circular signed by Acting Director in charge of Banking Supervision, Adetona Adedeji and sent to all commercial banks on Monday, reports The [&helli...
The Central Bank of Nigeria (CBN) has issued a stern warnÂing to banks imposing withÂdrawal limits below N20,000 per transaction, declaring that such actions violate its reguÂlations and will attract severe sanctions. In a Q&A explainer pubÂlished on its X handle yesterday, the apex bank clarÂified that customers must be allowed to withdra...
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