•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 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 […]
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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