Prior to the governorship and House of Assembly elections, the CBN and the EFCC have been urged to crack down on the use of illicit funds. This request comes from the NGO Human and Environmental Development Agenda (HEDA Resource Centre). This is contained in a statement that was given to newsmen on Sunday in Lagos Read More…
Godwin Emefiele, the Governor of the Central Bank, has urged commercial banks to go to apex bank locations all around the nation to obtain the new naira notes. Emefiele conveyed the decision on Wednesday in Lagos when the apex bank visited Computer Village, Ikeja, as part of its awareness-raising tour about the acceptance of the Read More…
In order to prevent hoarding and counterfeiting, economists have encouraged the Central Bank of Nigeria (CBN) to take strict control of the quantity of the redesigned naira notes it would allow into circulation. Prior to the Dec. 15 launch of the revised notes (N200, N500, and 1000), the experts provided guidance in separate interviews with Read More…
The proposed reform of the CBN’s cash withdrawal limit policy for businesses and individuals has the support of financial professionals. In separate interviews with newsmen on Wednesday in Lagos, they expressed this. While the experts were speaking, Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria, indicated that the government would not be stringent Read More…
According to President Muhammadu Buhari, the CBN has his backing as it introduces new designs and replaces high-value notes. Malam Garba Shehu, the president’s media aide, claimed in Abuja on Sunday that Buhari made his opinion clear while participating in a Hausa radio programme that will be broadcast on Wednesday. Dr. Zainab Ahmed, the minister Read More…
The sale of Polaris Bank to a new core investor, Strategic Capital Investment Ltd. (SCIL), has been made public by the Central Bank of Nigeria (CBN). A statement signed by Mr. Osita Nwanisobi, Director, Corporate Communications, and posted on the CBN website on Thursday said that the sale was completed after SPA signed a Share Read More…
The Central Bank of Nigeria (CBN) on Friday, released the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales in a bid to avoid brewing catastrophe in the country’s aviation sector. A breakdown of the figure indicates that the sum of $230 million was released as a special FX intervention Read More…
The eNaira has experienced a slow take-off since its inauguration in 2021. The Central Bank of Nigeria (CBN) announced on Thursday that the digital currency recorded just 200,000 volumes and four billion Naira value of transactions within the space of time. Mr Godwin Emefiele, the CBN Governor said this on Thursday in Abuja at the Read More…
The digital currency, the eNaira, will be launched on Monday. This is coming many months after the Central Bank of Nigeria (CBN) barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies. The digital currency will be launched by the Nigerian President, Muhammadu Buhari at State House, Abuja. Central Bank of Nigeria Read More…
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 Central Bank Digital Read More…
