•Central Bank of Nigeria (CBN) The Central Bank of Nigeria’s Monetary Policy Committee has reduced the interest rate to 27 per cent from 27.5 per cent in July. It also reduced the cash reserve requirement to 45 percent for commercial banks and 16 percent for merchant banks. The Committee has also introduced a 75 percent […]
•Kelvin Emmanuel Following the increasing inflation rate, Economy and Energy Expert, Kelvin Emmanuel, has advised the federal government to focus on economic drivers that will reduce inflation rate, in order to improve the cost of living of the average Nigerian. Emmanuel gave the advice today on Channels TV. While speaking to the topic ‘The Ec...
•POS machine The Central Bank of Nigeria has directed that all Point of Sale (PoS) terminals in the country be geo-tagged within 60 days. In a statement dated August 26, 2025, obtained by our correspondent today, CBN said the move is part of measures to curb fraud and strengthen oversight of digital payments. It is […]
•CBN Governor Olayemi Cardoso and the apex bank’s logo The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a resilient, safe, and sound financial system as the ongoing banking recapitalisation exercise continues to gather pace. According to the apex bank, eight commercial banks have already met the new capital ...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has maintained the current Monetary Policy Rate (MPR) of 27.5 per cent with all policy parameters. The Governor of CBN, Olayemi Cardoso, disclosed this at the MPC briefing in Abuja today, reports Channels TV. The apex bank’s MPC held its 301 meeting on July 21st […]
The Court of Appeal sitting in Abuja today reversed the judgment of a Federal High Court ordering the Central Bank of Nigeria (CBN) to pay Kasmal International Services the sum of N579,130,698,440 for its involvement in stamp duty collection. Justice Adebukola Banjoko, who delivered the majority judgment of two to one of the Appeal Court, [&he...
•CBN Governor Olayemi Cardoso As Nigeria advances toward its March 2026 bank recapitalisation deadline, the Central Bank of Nigeria (CBN) has announced a decisive end to COVID-era regulatory forbearance and loan waivers, signaling a return to stricter oversight and stronger capital standards. In a circular dated June 20, 2025 and signed by the...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has confirmed the process of enrolling for the Bank Verification Number (BVN) remains completely free for Nigerians residing within the country. This clarification comes in response to recent speculations and reports suggesting that new charges had been introduced following the launc...
•House of Representatives The House of Representatives has ordered the Central Bank of Nigeria (CBN) to remit N3.64 trillion to the federal government within 14 days, representing 70 percent of the apex bank’s N5.2 trillion outstanding operating surplus for the years 2016 to 2022. The directive followed a hearing held by a Joint Committee of [...
•Central Bank of Nigeria headquarters, Abuja The Bank Customers Association of Nigeria has revealed that it has written to the Central Bank of Nigeria about the charges being deducted from customers’ accounts. This was disclosed by the president of BCAN, Uju Ogubunka, yesterday at the 2025 Artificial Intelligence conference organised by SuperN...
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