•Naira notes The Central Bank of Nigeria (CBN) has raised an alarm concerning the proliferation of counterfeit banknotes, particularly in higher denominations. A statement from the CBN signed by Mrs Sidi Ali, Hakama Ag director of corporate communications, said the fake bank notes are being utilised in transactions within food markets and comm...
•CBN headquarters, Abuja Eight commercial banks have fallen short of the Capital Adequacy Ratio (CAR) required for international authorisation, the stress test conducted by the Central Bank of Nigeria (CBN) has shown. The affected banks have been put under pressure to raise their capital base to bridge the gap, which was brought about by the [...
The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a circular issued today by the apex bank which said a BVN or NIN verification will be “conducted shortly”. … developing story
The Nigeria Deposit Insurance Corporation (NDIC) has paid N1.39 billion to 36,163 depositors of 110 closed microfinance banks and three primary mortgage banks. According to the CEO of NDIC, Bello Hassan, this followed the recent revocation of some MFBs and PMBs licences by the Central Bank of Nigeria (CBN), revealing that the payments of the [...
•House of Reps A bill to amend the Central Bank of Nigeria Act scaled second reading at the House of Representatives today. The proposed amendment, according to the sponsor of the bill, Francis Waive, seeks to address critical aspects of the Act to enhance the effectiveness, transparency, and accountability of the apex bank and its […]...
•Old note and new naira The Central Bank of Nigeria has instructed all its branches nationwide to continue issuing various denominations of both old and redesigned banknotes in ample quantities to deposit money banks. The apex bank disclosed this in a statement signed by its Director, Corporate Communications, Isa AbdulMumin, and posted on its...
•CBN Governor Olayemi Cardoso Mr. Olayemi Cardoso, the new Governor of CBN, who was recently, together with his four Deputies, confirmed by the Senate, wrote an article titled ‘Preliminary Assessment of Challenges facing the CBN.’ In the article, he laid his vision of the CBN, what he intends to do and how to go about […]
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