•Embattled former CBN Governor Godwin Emefiele A prosecution witness in the trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the award of contracts for the purchase of vehicles for which Emefiele is facing tried, followed due process. The prosecution witness, Salawu Gana, is a former official of the Procurement D...
•Naira and Dollar notes The Central Bank of Nigeria (CBN) has announced the waiver of the 2025 non-refundable annual license renewal fee for Bureau De Change (BDC) operators. In a circular dated January 24, 2025, signed by John S. Onojah, acting director of the financial policy and regulation department, the apex bank said the move […]...
•US Dollar notes and CBN The Central Bank of Nigeria has directed participants in the foreign exchange market to submit compliance reports on adherence to the Nigeria FX Code by January 31, 2025. The directive is part of efforts to strengthen ethical practices, governance, and transparency in the market, reports The PUNCH. The Nigeria FX [&hel...
Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has vowed to tackle commoditisation ( buying and selling) of Naira notes, which has become widespread in the country. CBN Governor, Mr. Olayemi Cardoso made this vow in a keynote address at the inaugural Stakeholders’ Conference of the Committee of Heads of Banks Operations [&...
In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. Each bank was fined ₦150 million for non-compliance, in line with the CBN’s cash distribution...
Youths in the Northern part of Nigeria under the aegis of The Arewa Youth Assembly (AYA), have rejected the move by the Central Bank of Nigeria (CBN) to reduce its workforce by 1,000, AYA says the layoff will destabilise the economy and increase the poverty level in the country, reports Daily Trust. The Speaker of […]
•Tinubu A tough fiscal year 2025 appears to be underway following the tall order in currency valuation which may restrict the capacity of the federal government to fund the new budget. This reduction in real value is due to the significant devaluation of the Naira in the last one year and financial experts believe if […]
•US dollar notes The Central Bank of Nigeria has granted temporary permission to Bureau de Change operators, to purchase up to $25,000 in foreign exchange weekly from the Nigerian Foreign Exchange Market, which was launched earlier this month. The arrangement will be in effect from December 19, 2024, to January 30, 2025, reports Channels TV. [...
The Organised Private Sector has kicked against the decision of the Central Bank of Nigeria to limit the withdrawals from Point-of-Sale agents, stressing that the apex bank is not in touch with reality. CBN introduced a daily cash-out transaction limit of N100,000 per individual customer for Point-of-Sale agents as part of new measures to adva...
•POS machine The Central Bank of Nigeria (CBN) has restricted Point of Sales (PoS) agents to a daily transaction limit of N1.2 million. This was revealed in its ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ released yesterday. According to the circular, the development is in the apex bank’s effort to advance a cashless economy....
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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