CBN denies plans to revoke Unity, Polaris, Keystone banks’ licence
The Central Bank of Nigeria (CBN) has announced that it has no plans to revoke the licences of Unity, Polaris, and Keystone banks. This statement came in response to online…
Why we revoked licence of Heritage Bank- CBN
The Central Bank of Nigeria (CBN) said it has revoked the licence of Heritage Bank Plc with immediate effect following the failure of the Management of the company to improve…
Inflation rises to 33.20% in March, says NBS
The National Bureau of Statistics (NBS) Monday, April 15, said the inflation rate increased from 31.70% in February 2024 to 33.20% in March 2024. According to the Bureau in its…
Naira continues recovery, gains 7.2% against dollar
The exchange rate of Nigeria’s currency, the Naira has continued to appreciate to the dollar in response to the fiscal and monetary policies of President Bola Tinubu’s administration. According to…
Naira appreciates at official market, trades at N1,278.58/$
Naira has continued to gain tremendously at the official market, trading at N1,278.58 to a dollar on Tuesday. Data from the official trading platform of the FMDQ revealed that the…
CBN asks Nigerian banks to raise capital base
The Central Bank of Nigeria (CBN) has announced new minimum capital requirements for all banks operating in the country, the spokesperson for the apex bank, Hakama Sidi-Ali said in a…
CBN jacks up interest rate to 24.75%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday jacked up interest rate to 24.75 per cent. The apex bank hikes the rate from 22.75…
CBN approves sales of $10,000 to BDC at N1,251/$1
The Central Bank of Nigeria (CBN) has approved the sale of $10,000 to each Bureau De Change (BDC) at the rate of N1,251/$1. This is contained in a circular to…
CBN clears valid FX backlog as external reserves rise to $34.11bn
The Central Bank of Nigeria (CBN) says it has cleared all valid foreign exchange backlogs. This was disclosed by the Bank’s Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, in…
FG, CBN deny alleged plan to convert $30bn domiciliary account to Naira
The Federal Government and Central Bank of Nigeria (CBN) have denied reported plans to convert foreign exchange in depositors’ domiciliary account to naira. Some sections of the media reported on…