Recapitalization: 33 Banks Meet New Capital Requirements, Raise N4.65 Trillion in 24 Months – CBN
The Central Bank of Nigeria (CBN) has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This is disclosed in a statement issued on Wednesday…
CBN reduces number of licensed BDCs to 82 under revised guidelines
Dec. 8, 2025 The Central Bank of Nigeria (CBN) has granted final licenses to 82 Bureaux De Change (BDCs) to operate with effect from Nov. 27. A statement issued in…
CBN records $553m remittance inflows for July
The Central Bank of Nigeria (CBN), has announced a record significant increase in remittance inflows of 553 million dollars in July. A statement issued by CBN’s Acting Director, Corporate Communications,…
CBN re-introduces publication of economic reports to foster transparency
The Central Bank of Nigeria (CBN) says it has reintroduced the publication of several key economic reports to foster transparency in the economy. This is contained in a statement by…
CBN says no plans to convert domiciliary accounts into Naira
Feb. 3, 2024 The Central Bank of Nigeria (CBN) says it has no plans to convert domiciliary account holdings valued at 30 billion dollars into Naira. Mrs Hakama Sidi-Ali, CBN’s…
CBN releases $500m to clear more verified FX liabilities
Jan. 29, 2023 The Central Bank of Nigeria (CBN) says it has released 500 million dollars to various sectors in its determination to address the backlog of verified foreign exchange…
CBN pays $2bn in outstanding Forex liabilities
Jan. 18, 2024 The Central Bank of Nigeria (CBN) says it has paid approximately two billion dollars in its bid to clear the backlog of outstanding foreign exchange liabilities across…
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…
Don’t be alarmed by reports that haven’t emanated from CBN, your funds are safe in banks – CBN to depositors
Dec. 27, 2023 The Central Bank of Nigeria (CBN) has assured depositors and customers of Nigerian banks of the safety of their funds in the banks. The Acting Director, Corporate…
CBN removes charges on huge cash deposit, dismisses distressed banks report
As part of ongoing reforms, the Central Bank of Nigeria (CBN) has announced the immediate suspension of processing fees on large cash deposits. This directive has taken off the lid…