Sensitive materials for Saturday’s Osun State governorship election have arrived at the Central Bank of Nigeria (CBN) in Osogbo ahead of their distribution to the various local government areas. The materials arrived at the CBN premises yesterday at about 8:30pm under the supervision of officials of the Independent National Electoral Commissio...
Central Bank of Nigeria (CBN) yesterday announced the removal of restrictions preventing financial institutions that accessed its Standing Lending Facility (SLF) from participating in primary government securities transactions and Foreign Exchange (FX). The apex bank conveyed the development in a circular to all Deposit Money Banks (DMBs), aut...
The Central Bank of Nigeria (CBN) imposed a total of N1.69 billion in penalties on financial institutions for 2025 breaches ranging from delays in resolving customer complaints to failure to comply with regulatory directives, signalling a tougher enforcement regime by the apex bank. Of the total sanctions, N430 million was imposed through 21 p...
•Governor, Yemi Cardoso, and CBN logo The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) has opted to keep the Monetary Policy Rate (MPR), which is the country’s benchmark interest rate, unchanged at 26.5 per cent. It reached the decision following the MPC meeting held in Abuja today. The CBN governor, Olayemi Cardoso, who [&h...
•Femi Gbajabiamila and Adeyemi Adeniyi The Central Bank of Nigeria (CBN) yesterday told the House of Representatives ad hoc committee investigating the legal basis, operations and budgetary inclusion of the ‘phantom’ Presidential Foreign Investment Promotion Council (PFIPC) that it received authorisation from the Office of the Accountant-Gener...
The Central Bank of Nigeria (CBN) has reaffirmed that the standard N100 banknote remains a valid legal tender across the country, warning individuals, businesses and financial institutions against refusing to accept it for transactions. The apex bank issued the clarification following reports that some members of the public had been rejecting ...
The Central Bank of Nigeria (CBN) on Wednesday announced the revocation of the operating licences of forty-six microfinance banks. According to a statement signed by the apex bank’s Acting Director of Corporate Communications, Hakama Sidi-Ali, the move takes immediate effect. “The Central Bank of Nigeria (CBN) has revoked the operating licence...
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to immediately freeze the accounts and assets of individuals and companies designated for terrorism and terrorism financing following fresh sanctions imposed by Nigerian and United States authorities. The directive was contained in a circular dated June 24, 2...
The Central Bank of Nigeria (CBN) has ordered banks, fintechs, and other payment service providers to disclose their ultimate beneficial owners. The regulatory measures were contained in a circular dated June 15, 2026, and signed by CBN’s Director, Payments System Supervision Department, Dr. Rakiya Yusuf. Addressed to Deposit Money Banks, Micr...
•CBN Governor Olayemi Cardoso The Central Bank of Nigeria (CBN) has directed banks, fintech firms, mobile money operators and other payment service providers to store all payment transaction data generated within Nigeria on local servers. It set January 1, 2027 timeline for compliance. The directive is part of a broader regulatory push to stre...
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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