The Central Bank of Nigeria has issued a fresh warning to the public over the rising circulation of fraudulent messages and cyberattack attempts falsely linked to the apex bank, urging Nigerians to remain vigilant against digital scams. In a press statement signed by Hakama Sidi-Ali, the Acting Director, Corporate Communications and released y...
Fresh details have emerged regarding the circumstances that led to the regulatory intervention in Union Bank of Nigeria (UBN), with a forensic audit report alleging wide-ranging financial irregularities under the bank’s former owners and directors. The Central Bank of Nigeria (CBN) had in January 2024 dissolved the bank’s board and management,...
The Central Bank of Nigeria (CBN) has disclosed that 33 banks met the minimum capital requirements under its recapitalisation programme aimed at strengthening the resilience of the financial system. In a statement today, CBN said the programme, which commenced in March 2024, has now been concluded after a 24-month implementation period. The ap...
•CBN building, Abuja The Central Bank of Nigeria has officially restricted banking services for “chronic defaulters” and large-ticket obligors with non-performing loans. In a sweeping move to enforce credit discipline and safeguard the nation’s financial system, the apex bank issued a policy statement on Wednesday following remarks by CBN Gove...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has unveiled its 2026 monetary policy agenda, focusing on reducing inflation to single digits, stabilising the exchange rate, and strengthening the country’s financial system. Governor of the apex bank, Olayemi Cardoso, announced the plan today in Abuja at the 2026 First Monetary Pol...
A Federal High Court sitting in Lagos today, Wednesday nullified the January 2024 dissolution of the board and management of Union Bank of Nigeria by the Central Bank of Nigeria, CBN, declaring the action ultra vires. Justice Chukwujekwu Aneke, in his ruling, quashed all decisions taken by the CBN-appointed board and directed the immediate res...
•Naira notes The Central Bank of Nigeria (CBN) has instructed commercial banks to block loan defaulters, particularly large-ticket borrowers, from accessing new credit facilities within the banking system. A large-ticket obligor refers to an individual or company that owes a substantial amount of money to a financial institution, reports Vangu...
•CBN headquarters, Abuja The Central Bank of Nigeria (CBN) has disclosed that 30 banks have met the new minimum capital thresholds introduced under its ongoing banking sector recapitalisation programme. The update was contained in a statement issued yesterday by the Acting Director of Corporate Communications at the CBN, Hakama Sidi-Ali. The u...
•CBN Governor, Yemi Cardoso and CBN logo The Central Bank of Nigeria has cut the interest rate by 50 basis points to 26.50 percent from 27 percent. Nigeria’s apex bank announced this during its 304th Monetary Policy Committee (MPC) meeting held in Abuja today, reports Channels TV. The CBN Governor, Olayemi Cardoso, said all members […]...
•Spraying of Naira notes The Central Bank of Nigeria (CBN) has intensified its campaign against the abuse of the naira, warning Nigerians to desist from spraying, mutilating, counterfeiting and hawking the national currency. The apex bank gave the warning in Kaduna during its Special Day at the Kaduna International Trade Fair, where it also hi...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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