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 Central Bank of Nigeria has reassigned all four deputy governors of the institution. The changes, which took effect on June 1, 2026, were reflected in an updated profile on the apex bank’s official website yesterday. The changes saw Philip Ikeazor assume the policy portfolio previously held by Dr Muhammad Abdullahi, reports Channels TV. Ab...
•Governor of the Central Bank, Olayemi Cardoso The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has voted to retain the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting, which recorded the attendance of 11 members. The Governor of the Central Bank, Olayemi Cardoso, who spoke at the end of the […]
The Central Bank of Nigeria says 63.3 per cent of Nigerians want interest rates reduced ahead of the Monetary Policy Committee meeting scheduled for May 19 and 20, 2026. The apex bank disclosed this in its April 2026 Inflation Expectations Survey Report, released by its Statistics Department under the Economic Policy Directorate on its website...
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...
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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