CBN Unveils Revamped Website for Enhanced Access and Engagement”
Central Bank of Nigeria has launched its redesigned website, www.cbn.gov.ng, scheduled to go live today, December 2. CBN’s Acting Director, Corporate Communications, Hakama Sidi-Ali, announced this known in a statement in Lagos, noting that the redesigned website introduces a variety of new content, which encompasses a broader spectrum of information regarding the bank’s mandate. Additionally, […]
CBN Raise Monetary Policy Rate From 27.25 To 27.50
Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate to 27.50 per cent from 27.25 per cent as part of efforts to combat surging inflation. The CBN governor, Yemi Cardoso, announced this at the end of its last Monetary Policy Committee meeting in Abuja, making it the sixth rate hike this year. Cardoso […]
CBN Releases New Directive for POS Transactions
Central Bank of Nigeria has released a new directive to Payment Service Providers, requiring them to comply with enhanced routing guidelines for Point of Sale (POS) transactions. A circular by Oladimeji Taiwo on behalf of the CBN’s Payments System Management Department, which says the move is aimed at strengthening the monitoring of electronic transactions across […]
CBN to withdraw ambiguous 0.5 per cent cybersecurity levy
Members of the House of Representatives have asked the Central Bank of Nigeria (CBN) to withdraw the circular directing financial institutions to commence implementation of the 0.5 per cent cybersecurity levy According to the Green House, the CBN is to withdraw the initial circular, describing it as “ambiguous”, and “issue a more understandable one”. Honourable […]
TUC Threatens Nationwide Shutdown over Cybersecurity Levy
The Trade Union Congress (TUC) has threatened to shut down Nigeria’s economy if the Federal Government fails to reverse the cybersecurity levy introduced by the Central Bank of Nigeria. Reacting to the directive from the CBN to commercial banks and other financial institutions, the congress in a statement today signed by its president, Festus Osifo, […]
CBN Issues July 7 Deadline For PoS Operators’ Registration with Corporate Affairs Corporation
The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation. This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji, today in Abuja. Speaking at the event, the CAC boss said the […]
CBN prohibits use of foreign currency collateral for Naira loans
The Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for naira loans, with exceptions to foreign currency collateral which are Eurobonds issued by the Federal Government or guarantees of foreign banks, including Standby Letters of Credit. According to the new regulation directed to all banks by CBN’s Acting Director of […]
Senate Directs Police To Employ 10 Persons Each From 774 LGAs
the Senate, has directed the Police Service Commission and the Nigeria Police Force to recruit a minimum of 10 candidates from each of the 774 local government councils in Nigeria. The directive, according to the Upper Chamber, should form part of its annual recruitment processes. The resolution was reached as a result of a motion […]
CBN raises interest rate to 22.75% in a bid to curb inflation
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has increased the benchmark interest rate by 400 basis points to a record 22.75% from 18.75 percent. Addressing journalists at the end of the two-day first MPC meeting of the year in Abuja, CBN Governor, Olayemi Cardoso, disclosed that the committee voted to adjust […]
EFCC declares former CBN Governor’s wife wanted for alleged money laundering
The Economic and Financial Crimes Commission (EFCC) has declared Mrs Margaret Emefiele, wife of the former governor of the CBN, Mr Godwin Emefiele wanted for alleged money laundering. EFCC’s spokesman, Mr Dele Oyewale, stated in Abuja that three other persons: Mr Eric Odoh, Mrs Anita Omoile, and Mr Jonathan Omoile, had been declared wanted alongside […]
