Tag Archives: CBN

THE Naira yesterday lost almost half of its value in the official market as the exchange rate in the Investors and Exporters, I&E window rose to N664.04 per dollar from N471.67 per dollar on Tuesday, as the Central Bank of Nigeria, CBN announced measures to liberalise the market including the …

In its bid to raise awareness and invite more subscribers to the E-Naira policy, the Central Bank of Nigeria (CBN) in Kano has taken its mobilization to the Aliko Dangote University of Science and Technology (ADUST), Wudil, Kano State. Delivering an address at the office of the Vice Chancellor, Alhaji …

The Central Bank of Nigeria’s Monetary Policy Committee MPC has further increased the interest rate by 18.5 per cent to 20.5 per cent from 18 per cent in March. Godwin Emefiele, Governor of the Central Bank of Nigeria, disclosed this on Wednesday during the MPC communique presentation and Analysis.   …

The Central Bank of Nigeria (CBN) has announced revocation the licences of 132 Microfinance Banks, three Finance Companies and four Primary Mortgage Banks across the country. The revocation is contained in a gazetted circular signed by the CBN Governor, Mr Godwin Emefiele, in Abuja. According to Emefiele, the Microfinance Banks, …

The Central Bank of Nigeria (CBN) has introduced a digital currency called e-Naira to Nigerian tertiary institutions to enable members of the academic environment to offer better payment prospects in retail transactions when compared to cash payments and to enable students to pay their school fees through e-Naira. The Branch …

Central Bank of Nigeria (CBN) has begun the process for establishment of digital museums in Nigeria by way of Virtual Reality Museum where Nigerians would be able to view through its proposed Currency Museum Gallery from anywhere using technological gadgets. CBN said until museums embrace new approaches as regards to …

The Central Bank of Nigeria has said it will sanction banks assisting the operations of unlicensed foreign firms. It stated on Monday in its ‘Guidelines for the regulation of representative offices of foreign banks in Nigeria’, signed by the Director, Financial Policy and Regulation Department, Muhammad Musa.   ‘Any CBN …

The Central Bank of Nigeria (CBN) has said out of over 200 million Nigerians, only 57.4 million possess Bank Verification Number (BVN). The apex bank had partnered with the Nigerian Interbank Settlement System (NIBSS), bankers committee and deposit money banks to launch the BVN project in February 2014. The BVN …

• Consumers, businesses groan over elusive notes • Advocate calls for higher value banknotes And that was even made possible by the Supreme Court which, in a landmark ruling on March 3, extended the validity of the old N200, N500 and N1000 notes till December 31, 2023. A seven-member panel …

According to data from the Central Bank of Nigeria, CBN, Nigeria’s external reserves fell by $1.46bn between January and March. According to the figures shown by the apex bank, Nigeria’s reserves ended February 27, 2023, at $36.67 billion. Figures obtained from the CBN’s data on the movement of external reserves …