•FCT Minister Wike and Governor Fubara The Supreme Court orders Central Bank of Nigeria (CBN) to stop release of funds to Rivers State government forthwith until a proper House of Assembly is constituted. The court also ordered Martin Amaewhule to resume sitting immediately with all elected members. … developing storyÂ
•Nigerian Senate and CBN Governor Yemi Cardoso The Senate Ad-hoc Committee on Ways and Means Advance has accused the Central Bank of Nigeria (CBN) of frustrating its investigation into the N30 trillion Ways and Means Advance and the Anchor Borrowers’ programme under former President Muhammadu Buhari’s administration. The committee made the acc...
The Supreme Court has overturned a garnishee order issued against the Central Bank of Nigeria (CBN) in an attempt to recover a N50 million judgment debt against the Inspector General of Police (IGP) and others. In a ruling yesterday, a five-member panel of the apex court set aside the proceedings in the case filed by […]
Bank directors with non-performing insider-related loans have been given a quit order by the Central Bank of Nigeria (CBN). They are to step down immediately. The apex bank gave the directive in a circular signed by Acting Director in charge of Banking Supervision, Adetona Adedeji and sent to all commercial banks on Monday, reports The [&helli...
The Central Bank of Nigeria (CBN) has issued a stern warnÂing to banks imposing withÂdrawal limits below N20,000 per transaction, declaring that such actions violate its reguÂlations and will attract severe sanctions. In a Q&A explainer pubÂlished on its X handle yesterday, the apex bank clarÂified that customers must be allowed to withdra...
Nigerians will soon pay higher charges for withdrawals at commercial banks’ Automated Teller Machine (ATM) as the Central Bank of Nigeria (CBN) has reviewed transaction fees, citing rising operational costs and the need to enhance banking services. In a circular signed by John Onojah, Acting Director of the Financial Policy and Regulation Depa...
Nigerian Deposit Money Banks (DMBs) made a record single-day withdrawal of ₦1.2 trillion from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) to cover a severe liquidity shortfall, according to TrustBanc Financial Group Limited. The banking system is grappling with a significant liquidity deficit, which stood at ₦266.55 bil...
The Central Bank of Nigeria (CBN) yesterday released new guidelines which permits Bureau de Change (BDC) operators to purchase up to $25,000 weekly from Authorised Dealer Banks (ADBs) to meet retail market demand. In a circular signed by Dr. W. J. Kanya, the Acting Director of the Trade & Exchange Department at the CBN, the […]
•IGP Kayode Egbetokun The Senate has issued a stern warning to the Inspector-General of Police, Kayode Egbetokun; the Chief Executive of the Federal Inland Revenue Service (FIRS), Zacch Adedeji; the Nigerian National Petroleum Company Limited (NNPCL); and the Governor of the Central Bank of Nigeria (CBN), among others, threatening them with ar...
•US Dollar notes and Naira notes The Naira depreciated at the official market yesterday, trading at N1,495.60 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the Naira lost N20.82. This represents a 1.4 per cent loss when compared to the previous trading day on Friday, January 31, when […]...
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