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…
CBN lifts ban on Crypto-currency Transactions
The Central Bank of Nigeria has lifted ban on crypto currency transactions in the country. The apex bank has thus instructed commercial banks to jettison its previous instruction on crypto…
Naira notes: There’s sufficient stock for economic activities, CBN assures Nigerians
Amidst complaints by some Nigerians about scarcity of Naira notes, the Central Bank of Nigeria (CBN) says there is adequate supply of the currency. The News Agency of Nigeria (NAN)…
CBN raises alarm, warns public over circulation of fake banknotes
The Central Bank of Nigeria (CBN) has raised an alarm concerning the proliferation of counterfeit banknotes, particularly in higher denominations. A statement from the CBN signed by Mrs Sidi Ali,…
CBN freezes accounts without BVN, NIN April 2024
The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without a Bank Verification Number and National Identification Number effective April 2024. “Post No…
Tinubu rings NASDAQ Stock Market’s closing bell
President Bola Ahmed Tinubu marked his first official trip to the United States and made his first stop at the National Association of Securities Dealers Automated Quotations Stock Market (NASDAQ)…