Tag: Central Bank of Nigeria

CBN directs banks to publish names, BVN Verification details of FOREX Ban defaulters

The Central Bank of Nigeria has directed all commercial banks to publish on their websites the names and Bank Verification Numbers of customers who engage in fraudulent and unscrupulous practices to obtain foreign exchange from banks. In a circular issued by the on Tuesday, the bank outlined the fraudulent practices[Read More…]

Was Nigeria’s finance minister ignorant? or lying? – CBN Governor Emefiele says Printing money is a cardinal job of the lenders

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said printing money is a cardinal job of the lenders. Emefiele, on the official twitter handle of the CBN @cenbank on Friday, said printing money is about lending money. Emefiele, on Friday, said it would be irresponsible for any Central Bank to refuse[Read More…]

Just In: Court grants CBN’s request to freeze the following bank accounts under investigation

A federal high court in Abuja has issued an interim order in favour of the Central Bank of Nigeria (CBN) freezing 11 bank accounts. The CBN had in a motion ex parte dated March 16, prayed the court for an order directing First City Monument Bank (FCMB) to freeze forthwith[Read More…]

CBN Introduce incentives to diaspora remittances: Beneficiaries to get N5 for every USD received

The Central Bank of Nigeria (CBN) has introduced the ‘CBN Naira 4 Dollar Scheme’ in its bid to sustain the increase in inflows of diaspora remittances into the country. CBN announced this in a circular to all deposit money banks, International Money Transfer Operators (IMTOs), and the public in general.[Read More…]

Governor of the Central Bank of Nigeria, Godwin Emefiele says the naira has depreciated

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the naira has depreciated at the official market to 410 against the dollar. Emefiele, who spoke at a summit on the economy by Bank CEOs on Friday, said the drop in crude oil earnings and the associated[Read More…]

CBN, SEC seek other ways to regulate cryptocurrency

The Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) have agreed to collaborate and conduct research with a view to finding ways of regulating the Cryptocurrency market. They said this at a virtual lecture organised by the Association of Capital Market Academics of Nigeria (ACMAN) in[Read More…]

Central Bank during military dictatorship never froze Activists’ Bank Accounts – Femi Falana

A Senior Advocate of Nigeria (SAN), Femi Falana, has asked the Central Bank of Nigeria (CBN) to stay out of politics and stick to the business of banking. Falana’s call was made in reaction to the unfreezing of bank accounts belonging to 20 #EndSARS promoters.. He said even under military[Read More…]

Breaking: Federal High court orders CBN to unfreeze accounts of #EndSARS protesters

A federal high court in Abuja has Wednesday, asked the Central Bank of Nigeria (CBN) to unfreeze the bank accounts of 20  #EndSARS protesters. Ahmed Mohammed, the judge, gave the order on Wednesday after counsel to the CBN and the legal representative of the protesters agreed to settle out of[Read More…]

CBN warns that revised cheque book becomes fully operational April 1

The CBN has advised all Deposit Money Banks (DMBs) accredited Cheque Printers/Personalised, and the Nigeria Interbank Settlement System (NIBSS), to enlighten their customers on the revised cheque book, introduced across all banks. Mr Sam Okojere, Director, Banking Services Department, who gave the advice in a circular posted on the CBN[Read More…]

Just In: Central Bank of Nigeria orders closure of money transfer operators’ naira accounts

The Central Bank of Nigeria has directed the Deposit Money Banks to close all naira accounts of International Money Transfer Operators. It disclosed this on Friday in a circular tilted ‘Receipt of diaspora remittances: Additional operational guidelines 2 addressed to all Deposit Money Banks, Payment Service Providers and International Money[Read More…]