Net Forex Inflow Fell To $14bn In Q3 Says CBN
The net foreign exchange inflow to the Nigerian economy in the third quarter of the year decreased by 2.97 per cent to $14.46bn from $14.89bn in the preceding quarter. This…
JUST IN: CBN, NCC Order Banks, Telcos To Settle N250bn USSD Debt Dispute
The Central Bank of Nigeria, (CBN), and the Nigerian Communications Commission, (NCC), have directed Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute. The…
‘Nigeria’s External Reserves Robust Enough For Any Shocks’
The Central Bank of Nigeria has said that the $42 billion external reserves of the country, can finance importation of goods and services for more than nine months. This is…
Cash Crunch: CBN Probe Reveals VIPs, Banks As Main Culprits
The recent spot checks conducted by the Central Bank of Nigeria, (CBN), on Deposit Money Banks (DMBs) have shown that much of the cash supplied to the banks goes to…
SANCTION: CBN Imposes N150m Fine On Banks For Mint Note Abuse
The Central Bank of Nigeria, (CBN), has imposed a N150 million penalty per branch on Deposit Money Banks (DMBs) found engaging in the illegal flow of freshly minted Naira notes…
CONFIRMATION: Old, Redesigned Naira Notes Remain Valid, CBN Clarifies
The Central Bank of Nigeria has reaffirmed the validity of the old N1000, N500, and N200 banknotes as legal tender, clarifying misinformation circulating about their status. In a statement signed by Mrs Hakama Sidi-Ali, the…
CBN Gov Cardoso To Nigerian Bank CEOs: ‘Seek Bold Solutions’
Governor of Central Bank of Nigeria, CBN, Olayemi Cardoso, has told chief executive officers of Nigerian banks to seek bold solutions in addressing the challenges facing the banking sector. According…
Bank Workers Blame CBN As Cash Shortage Worsens
The Association of Senior Staff of Banks, Insurance, and Financial Institutions has attributed the worsening cash shortage across the country to the Central Bank of Nigeria’s inability to meet the…
CBN Denies Selling FX to BDCs At N1,300 Per Dollar
The Central Bank of Nigeria, CBN, has described as fake a circular that it authorised the sales of foreign exchange to Bureau De Change operators in the country. The circular…
Nigeria’s Economy Still Facing Crisis Says CBN
The Central Bank of Nigeria, CBN, has said that Nigeria remains in a financial and economic crisis. CBN Governor Yemi Cardoso made this statement at the 14th Annual Bankers’ Committee…