•Central Bank of Nigeria (CBN) The Central Bank of Nigeria (CBN) has introduced temporary restrictions on the payment of dividends and bonuses by a small group of banks as part of its broader strategy to strengthen the financial sector. The measure, which targets institutions, which the CBN did not name, still recovering from the effects [&hel...
The House of Representatives yesterday resumed investigation into the utilisation of the sum of N1.12 trillion disbursed by the Central Bank of Nigeria (CBN) through the Anchor Borrowers Programme (ABP) to farmers across the country. Chairman, House Committee on Nutrition and Food Security, Hon. Chike Okafor, who spoke during the hearing in Ab...
•Governor Umo Eno and CBN governor, Olayemi Cardoso Akwa Ibom State governor, Pastor Umo Eno, has commended the management of the Central Bank of Nigeria (CBN) for its strategic policies and efforts to stabilise the Naira and turn around the country’s economy for the better. Pastor Eno made the commendation as a Special Guest at […]
•CBN Governor, Olayemi Cardoso The Central Bank of Nigeria’s Monetary Policy Committee has retained all economic parameters from the first quarter, including the interest rate at 27.50 per cent The announcement was made by the CBN Governor, Olayemi Cardoso, after the committee’s meeting held yesterday and today, reports Channels TV. The commit...
•Bank Verification Number (BVN) The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform for Nigerians in diaspora. Launched yesterday, the innovative digital gateway, which is projected to actualise the CBN’s $1 billion mo...
•Former President Muhammadu Buhari House of Representatives is probing the Central Bank of Nigeria (CBN) and relevant ministries, departments and agencies (MDAs) on the disbursement of about N1.12 trillion through the Anchor Borrowers Programme (ABP). Chairman of the House Committee on Nutrition and Food Security, Chike Okafor, who spoke at th...
•Naira notes The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month. According to the latest Afrinvest Monthly Market Report titled, ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped ...
Depositors with N5 million and above in the recently revoked Heritage Bank have called on the National Assembly to urgently intervene in their plight, urging the Central Bank of Nigeria (CBN) to reconsider its decision. Many of the affected customers said they have been thrown into severe financial distress, with their businesses and livelihoo...
Following a motion of urgent public importance, the House of Representatives has passed a resolution calling for the suspension of the increase in Automated Teller Machine (ATM) transaction charges and the stoppage of free ATM withdrawals for customers from other banks in Nigeria. The motion moved by a member, Marcus Onobun, drew the attention...
A significant leadership shakeup in the Central Bank of Nigeria (CBN) has resulted in the appointed of 16 new directors across key departments in the apex bank. These appointments, which took effect from March 3, affect crucial departments, including: Monetary Policy; Trade and Exchange; Banking Supervision; Payment Systems and Consumer Protec...
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