The recent spot checks conducted by the Central Bank of Nigeria (CBN) on Deposit Money Banks (DMBs) have shown that much of the cash supplied to the banks goes to VIP customers, leaving the majority of customers with too little to meet their demand, it was gathered yesterday. The apex bank is said to have […]
•Old and new naira notes The Central Bank of Nigeria (CBN) has reiterated that all versions of the naira, including the old and new designs of ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 denomination, remain valid and continue to be legal tender without any deadline. The […]...
•CBN Governor Yemi Cardoso The Governor of the Central Bank of Nigeria (CBN) Yemi Cardoso has acknowledged that Nigeria remains in a financial and economic crisis, a situation inherited by the current CBN administration. Speaking at the 14th Annual Bankers’ Committee Retreat in Abuja, Cardoso explained that the role of the bankers’ committee r...
The Central Bank of Nigeria (CBN) has simplified the process for bank customers to lodge complaints about unresolved ATM withdrawal issues, unexpected charges, and unauthorised transactions. Here are the simple steps to lodge complaints about withdrawal issues at ATMs to CBN: Start with Your Bank Visit your bank and lodge a formal complaint. B...
Barring any last-minute changes, the Central Bank of Nigeria (CBN) will soon retire about 1,000 of its employees before the end of the year, investigations by our correspondent have shown. Reliable sources at the apex bank’s headquarters revealed that the retirement would gulp over N50 billion in payoff to the affected workers, reports Daily T...
•CBN Governor Yemi Cardoso The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50 per cent from 27.25 per cent as part of efforts to combat surging inflation. This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), reports Channels TV. The monetary […]
•US dollar notes The federal government spent a voluminous $3.58 billion servicing the country’s foreign debt in the first nine months of 2024. Data sourced from the Central Bank of Nigeria (CBN) report on international payment statistics showed that the amount represents a 39.77 per cent increase from the $2.56 billion spent during the same [...
•CBN Governor Yemi Cardoso No fewer than 28 million Nigerians – mostly in the rural areas – have no access to banking, the Central Bank of Nigeria (CBN) said yesterday. The apex bank Deputy Governor, Financial System Stability, Philip Ikeazor, who stated this yesterday, added that the CBN and stakeholders have been working tirelessly to [&hell...
•Ebun-Olu Adegboruwa, SAN A Senior Advocate of Nigeria (SAN), Ebun-Olu Adegboruwa, has asked the Central Bank of Nigeria (CBN) to protect Nigerians from what he calls “banking with tears and blood”. In an article he made available to the media today, Adegboruwa detailed the recent travails that he and other bank customers have had to […...
The Central Bank of Nigeria, in collaboration with the Nigerian Educational Research and Development Council, is poised to integrate financial literacy into the school curriculum for junior and primary schools across the country. The Acting Head of the Consumer Protection Department at the CBN, Mr Ibrahim Yahaya, disclosed this today during th...
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