CBN Announces Increase In Monthly Foreign Exchange Inflow
Aggregate foreign exchange inflow into the economy amounted to $9.84bn in November 2019, showing an increase of 7.5 per cent above the level at the end of the preceding month. The Central Bank of Nigeria disclosed in its 2019 November economic report on foreign exchange…
$53M Debt: Court Threatens To Jail CBN Governor, Godwin Emefiele
Justice I. E. Ekwo of the Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, over a judgment debt of $53m. A Senior Advocate of Nigeria, Mr Joe Agi, had initiated a garnishee proceeding against the…
CBN Announces Banks’ Minimum Loan Deposit Ratio
The Central Bank of Nigeria (CBN), says it has retained the minimum 65 per cent of Loan Deposit Ratio (LDR) in the interim. The CBN made this known in a circular signed by its Director of Banking Supervision, Mr Ahmad Abdullahi in Abuja on Wednesday….
JUST IN: Banks To Pay N2 Million Fine For Excessive Charges On Customers — CBN
To guard against excess, unapproved or arbitrary charges by banks, Central Bank of Nigeria (CBN) says any bank that charges customers above approved thresholds will pay a N2 million fine per infraction. In clarification on Tuesday morning, CBN noted that its Guide to Bank Charges stipulates…
CBN Announces The Introduction Of New BVN
The Bankers Committee Saturday introduced a classification of the Bank Verification Number (BVN) to fast track the achievement of the financial inclusion goal of 20 percent by 2020. With this development, the BVN has been classified into two groups —BVNPremium and BVN Lite. The committee…
N500, N1000 Denominations Most Commonly Counterfeited Banknotes – CBN Reveals
The Central Bank of Nigeria (CBN) on Wednesday, said that a total of 119,663 pieces of counterfeit notes with a nominal value of N98.82 million was recorded in 2018. The bank said this in the Currency Operations Annual Report, posted on its website. The CBN…
BREAKING: CBN Leaves Benchmark Lending Rate Unchanged At 13.5 Percent
The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday left the Monetary Policy Rate unchanged at 13.5 per cent. The CBN Governor, Mr Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex…
CBN Begins Charges On Deposits, Withdrawals Above N500,000
The Central Bank of Nigeria on Tuesday said that the nationwide implementation of the cashless policy will begin by March 2020. The apex bank said this in a circular to all Deposit Money Banks in the country. It said that implementation of the policy would…
Court Orders CBN To Pay Benue Communities N8 Billion Over 2001 Military Invasion
The Abuja Division of the Federal High Court, on Monday, directed the Central Bank of Nigeria, CBN, to forthwith, pay the sum of N8billion to Tiv communities in Logo, Ukum, Kwande and Katsina-Ala Local Government Areas of Benue State, to cover for damages they suffered…
APC Fixes Anambra Governorship Forms At N22.5m, Announces Date For Primaries
Medaner said that the party would start the sales of expression of interest and nomination forms for the election at the party’s national secretariat from April 15 to June 8.
Gov. Akeredolu Renews Fight With Former Deputy, Calls Police To Retrieve Vehicles
To this end, the Governor has enlisted the help of the state Commissioner of Police, CP Bolaji Salami, to recover the vehicles.
Why Lead Africa Is Supporting Africa’s Startup Businesses-Olanrewaju
Olanrewaju stated this on Tuesday during interactions with journalists in Lagos at the StartUp Afrika event in partnership with State of Baden-Wurttemberg, Germany.
Only Corrupt PDP Chiefs That Are Defecting To APC – Tambuwal
They reiterated their commitment to the electronic transmission of election results, urging the National Assembly to amend the Electoral Act to reflect the critical electoral reform.