Banking Business

CBN set to roll out e-Naira by Independence Day

Reading Time: 3 minutes Image Credits: Nairametrics. Independence Day, 1st October 2021, is the day that the Central Bank of Nigeria (CBN) has set aside as the day the new digital currency will be rolled out. According to the Director of Information Technology, Central Bank of Nigeria (CBN), Rukiya Mohammed, the apex bank has concluded plans to launch the Read More…

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Citizen drags CBN, Emefiele to Court for incompetence, illegality

Reading Time: 3 minutes In what can be termed a peculiar legal case, an Abuja-based businessman, Sesugh Akume, has filed a suit at the Federal High Court, Abuja, asking the court to determine whether the Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the apex bank itself, have not been grossly incompetent by failing to provide price Read More…

Banking Business Featured

CBN directs banks to comply with SWIFT universal payment confirmations

Reading Time: < 1 minutes Image Credits: Nigerian Finder. The Central Bank of Nigeria (CBN), has directed all banks operating in the country to always observe strict compliance with SWIFT Universal Confirmation Requirements. The directive was outlined in a circular issued by Mr Sam Okojere, CBN’s Director, Banking Services Department. Okojere directed all SWIFT customers to provide information on the Read More…

Business Economy Top Story

CBN reduces Monetary Policy Rate to stimulate economic recovery

Reading Time: 2 minutes Image Credits: REUTERS. The Central Bank of Nigeria (CBN) on Monday announced reduction of the Monetary Policy Rate (MPR) from 12.5 per cent to 11.5 per cent. Mr Godwin Emefiele, the CBN Governor made the announcement while presenting the communiqué the 275th Monetary Policy Committee (MPC) meeting on Tuesday. Emefiele said that the decision to reduce Read More…