CBN disburses $61m to foreign airlines to settle mature FX backlog
Jan. 7, 2024 The Central Bank of Nigeria (CBN), says it has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued…
CBN issues new FX reforms, makes changes on domiciliary accounts, others
The Central Bank of Nigeria (CBN) has announced fresh policy changes in the foreign exchange (FX) following new guidelines in the FX market recently released, reports Political Economist NG. Director,…
Naira redesign: We’ve so far received about N1.5 trn of old Naira notes – Emefiele
Jan. 24, 2023 …Says Jan. 31 deadline for notes swap remain The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, says the Jan. 31 deadline to stop…
Revoked licenses: NDIC successfully closes 325 MFBs, 50 PMBs, 49 DMBs
Oct. 22, 2021 The Nigeria Deposit Insurance Corporation (NDIC) says it has successfully closed 325 MFBs, 50 PMBs and 49 DMBs whose licenses were revoked by the CBN with minimal…
Payment of liquidation dividends to depositors of failed banks ongoing – NDIC
Oct. 22, 2021 The Nigeria Deposit Insurance Corporation (NDIC) is currently settling the liquidation dividends of depositors of banks whose licenses were revoked by the Central Bank of Nigeria (CBN)….
Forex: CBN directs commercial banks to set up teller points
July 29, 2021 The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to set up teller points in designated branches for the sale of Foreign Exchange (forex)…
CBN increases FX allocation to banks
June 6, 2021 The Central Bank of Nigeria (CBN) has concluded plans to increase the amount of foreign exchange allocated to banks to meet the requests of customers. This particularly…
CBN Imposes ₦6.98 Charge For All USSD TransactionsÂ
The Central Bank of Nigeria (CBN) has imposed ₦6.98 service charge on Nigerians for all USSD transactions. Customers will pay a flat fee of N6.98 per transaction every time they…
Cryptocurrency Ban: CBN Governor, Godwin Emefiele Honours Senate’s Invitation
The Central Bank of Nigeria, CBN, Governor, Godwin Emefiele has appeared before the National Assembly to honour the request by the Senate Joint Committee on Banking Insurance and other financial…
Transactions in Cryptocurrencies speculative, unreliable, should be discouraged – CBN
Transactions in cryptocurrencies are largely speculative, volatile and should be discouraged, the Central Bank of Nigeria (CBN) says. The apex bank gave the explanation in a statement on its official…