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Tag Archives: Central Bank of Nigeria

2025 Hajj: CBN Approves cash-based BTA for pilgrims

THE Central Bank of Nigeria (CBN), has approved the request by the 2025 Hajj intending pilgrims to be granted cash transactions for the holy pilgrimage to the Kingdom of Saudi Arabia. This followed the intervention of Vice-President Kashim Shettima, who appealed to President Bola Tinubu on behalf of the pilgrims …

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Paris Club refund: Consultant Files Contempt Charge Against CBN

A consulting firm, Melrose General Services Limited, has filed a contempt charge against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and its Director of Legal Services, Salam-Alada Kofo, over dispute on the Paris Club refund. The company instituted the suit marked: FHC/ABJ/CS/532/2025 before Justice Inyang Ekwo of the …

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Bank Recapitalisation Crucial to Achieving $1trn Economy – CBN

THE Central Bank of Nigeria (CBN) said the recapitalisation of Nigerian banks was crucial to the march towards achieving a one-trillion dollar economy. CBN’s Deputy Governor, Corporate Services, Emem Usoro, said this on Monday in Abuja, at the ongoing 36th edition of the Finance Correspondents Association of Nigeria (FICAN). The …

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Naira Depreciates by 0.93% Against Dollar at Official Market

THE Naira depreciated on Friday at the official market, trading at N1,567.02 to a dollar. Data from the Central Bank of Nigeria (CBN) Website showed that the Naira lost N14.49. This represents a 0.93 per cent loss when compared to N1,552.53 per dollar recorded on Thursday. The local currency which …

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CBN Debunks Reports of new ₦5,000, ₦10,000 notes

THE Central Bank of Nigeria (CBN) has dismissed as fake news claims that it has introduced new ₦5,000 and ₦10,000 notes into the Nigerian currency mix. This comes after widespread misinformation suggested that the apex bank had unveiled the high-denomination banknotes to enhance cash transactions. According to the reports, the …

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