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...
•Dollar notes The Central Bank of Nigeria (CBN) has approved the participation of licensed Bureau De Change (BDC) operators in the Nigerian Foreign Exchange Market (NFEM) as part of efforts to improve foreign exchange liquidity in the retail segment of the market and meet the legitimate needs of end users. The apex bank also approved […...
The Court of Appeal sitting in Abuja today ordered the Central Bank of Nigeria (CBN) to forthwith release the sum of N2.5 billion standing to the credit of 110 former staff members of Ahmadu Bello University (ABU), Zaria, who were unlawfully sacked in 1996. The appellate court, in a unanimous decision by a three-member panel […]
•CBN headquarters, Abuja The Central Bank of Nigeria has approved the temporary use of expired National Agency for Food and Drug Administration and Control licenses to importers for import documentation purposes. A circular issued on January 26, 2026, by the apex bank’s Trade and Exchange Department and published on the bank’s website yesterda...
•Nigeria’s Super Eagles celebrate goal against Mozambique The Nigerian Football Federation (NFF) has revealed that the Central Bank of Nigeria (CBN) is processing the allowances of the Super Eagles’ players and officials at the 2025 African Cup of Nations (AFCON) to individual banks. Nigerian journalist, Tobi Adepoju, known as ‘Oganla Me...
•CBN head office, Abuja The Central Bank of Nigeria (CBN) has announced the revocation of operating licenses of two mortgage banks. In a circular issued today and signed by its Ag. Director, Corporate Communications Department, Hakama Ali, the apex Bank, noted that the move was part of its efforts to reposition the mortgage sub-sector and [&he...
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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