Anxiety Grows over Unsettled FX Forwards, Impact on Economy
Nigerian corporates and SMEs have decried the non-settlement of Foreign Exchange (FX) forwards by the Central Bank of Nigeria (CBN).…
Category: CBN
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Naira slumps against dollar amid CBN interest rate hike
The naira nosedived against the dollar at foreign exchange markets in the wake of the Central Bank of Nigeria’s latest…
CBN’s interest rate hike: Implement fiscal measures to tackle inflation – CPPE tells FG
The Centre for the Promotion of Private Enterprise, CPPE has urged the Nigerian government to urgently implement the proposed Accelerated…
Nigeria’s external reserves increase to $36.89bn on CBN’s policy – Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country’s external reserve increased to $36.89 billion…
Dollar-Naira Exchange: CBN sells $106.5m to authorized dealers, BDCs in two days
The Central Bank of Nigeria says it sold $106.5 million in Foreign currency to authorized dealers and legible Bureau De…
CBN targets $1trn economy
The Central Bank of Nigeria has disclosed that it is targeting a $1 trillion economy by 2030 while re-stating its…
CBN sells FX at N1450 per dollar to BDCs
The Central Bank of Nigeria said it sold foreign currency worth $20,000 to each eligible Bureau de Change operator at…
Hardship: CBN announces date for MPC meeting to tackle Nigeria’s rising inflation
The Central Bank of Nigeria has issued a notice of a Monetary Policy Meeting to decide on measures to tackle…
Nigeria’s ailing economy will bounce back soon – NNPCL, CBN assure
Stakeholders in the nation’s economy declared in Abuja on Monday that the ailing economy is getting revitalised based on emerging…
Delta: Police escort LG election materials from CBN to LGAs
Delta State Commissioner of Police, Olufemi Abaniwonda, and his men have inspected council election materials at the office of the…
Nigerian senators reject bill seeking to reduce CBN’s regulatory power on FX market
Nigerian senators have rejected a bill seeking to amend the Foreign Exchange Act of 2004 expected to reduce the regulatory…
Nigerian banks’ borrowing from CBN hit all-time high of N5.38tn amid liquidity concerns
Nigerian Deposit Money Banks’ borrowing from the Central Bank of Nigeria, CBN, hit an all-time high of N5.38 trillion in…
‘No growth will happen’ – Dangote kicks against CBN’s interest rate
The Chairman of the Dangote Group, Aliko Dangote, has expressed concern over the decision of the Central Bank of Nigeria,…
Reps probe CBN’s N1.12trn anchor borrowers scheme, NIRSAL’s N215b loan
The House of Representatives has ordered probes into the N1.12 trillion anchor borrowers scheme, an initiative of the Federal Government’s…
SERAP gives CBN 7 days to account for ‘missing’ N100bn dirty notes, other public funds
Socio-Economic Rights and Accountability Project, SERAP, has called on Olayemi Cardoso, Governor of the Central Bank of Nigeria, CBN, to…
CBN orders banks to deposit all excess FX
The Central Bank of Nigeria has directed all Deposit Money Banks to deposit their excess foreign currency notes with its…
Nigeria’s inflation will cool off as CBN reforms attract $24bn inflow – Cardoso
The Central Bank of Nigeria, CBN, has projected that Nigeria’s inflation will moderate in the coming months as its reforms…
CBN will use conventional methods to tame inflation – Cardoso
The Governor of the Central Bank of Nigeria, CBN, Mr Olayemi Cardoso has reiterated the determination of the Bank’s Monetary…
CBN meets private sector, gives reasons for recent Monetary Policy Rate hikes
The Central Bank of Nigeria has presented a detailed explanation of the economy’s trajectory, giving reasons for the recent aggressive…
Nigeria’s foreign exchange reserves surge by 5% to $33.58bn
Nigeria’s foreign exchange reserves increased by 5 percent to $33.58 billion in the last two months. This is according to…
Emefiele printed ‘his own Naira’, ignored design approved by Buhari – Ex-CBN director
A former Central Bank of Nigeria, CBN, Director of Currency Operations, Ahmed Umar, has disclosed that the immediate past governor,…
Northern group urges CBN to clean up Emefiele’s ‘mess’
The Northern Ethnic Youth Group Assembly (NEYGA) has called on the Central Bank of Nigeria (CBN) to thoroughly clean up…
CBN probe: Tinubu, Cardoso’s anti-corruption drive yielding results — Analyst
A Lagos-based public affairs analyst and writer, Gbenga Ibrahim has commended President Bola Tinubu and CBN President Yemi Cardoso, for…
Heritage Bank: Revocation of license by CBN wasn’t surprising – Moghalu
Former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu, has described the recent revocation of the banking…
CBN lifts ban on Opay, Moniepoint, two other fintech banks
The Central Bank of Nigeria, CBN, has lifted its ban on onboarding new customers imposed on five prominent fintech startups:…
CBN revokes licence of Heritage Bank
The Central Bank of Nigeria (CBN) has announced that it has revoked the banking licence of Heritage Bank. Ag. Director,…
Emefiele: ‘I didn’t see minute of meeting on naira redesign’ – Ex-CBN director
A former Director of Currency Operations at the Central Bank of Nigeria (CBN), Ahmed Bello Umar, stated on Tuesday that…
Sen Nwoko chides CBN for sacking 317 employees
The Senator representing Delta North Senatorial District, Ned Nwoko, has slammed the recent mass termination of the employment of more…
![FX crisis: CBN bans commercial banks, public officers, others from owning BDCs [Full list]](https://nigerdeltanews.ng/wp-content/uploads/2024/05/RTX4HPB4-e1542673923834-8.jpg)
FX crisis: CBN bans commercial banks, public officers, others from owning BDCs [Full list]
The Central Bank of Nigeria has banned commercial banks, all financial institutions, public officers, non-governmental organizations, non-Nigerian natural persons, non-resident,…
Naira appreciation: CBN orders all BDCs to re-apply, issues updated guidelines
The Central Bank of Nigeria has ordered all Bureaux De Change Operators to re-apply for licenses to sustain Naira’s appreciation…
CBN: Cardoso reveals position on revoking licenses of Moniepoint, Opay, other fintech banks
The governor of the Central Bank of Nigeria, Olayemi Cardoso, said that the apex bank has not revoked the licenses…
Naira appreciates against dollar amid CBN interest rate hike
The Naira appreciated further against the dollar at the foreign exchange market amid the Central Bank of Nigeria interest rate…
CBN interest rate hike will worsen burden on investors – CPPE
The Centre for the Promotion of Private Enterprise said the recent Central Bank of Nigeria interest rate hike to 26.25…
Naira: CBN announces four key decisions at MPC meeting
The Central Bank of Nigeria, CBN, at just concluded Monetary Policy Committee Meeting, announced four key decisions amid efforts to…
MPC: Retain interest rates – Experts tell CBN
Ahead of Tuesday’s Monetary Policy Committee meeting, financial experts have urged the Central Bank of Nigeria to retain a 24.75…
Stop implementation – CBN sends messages to all banks on Cybersecurity levy
Central Bank of Nigeria, CBN, has asked all banks to stop the implementation of a 0.5 per cent cybersecurity levy…
Court affirms CBN’s regulation on collection of customers’ social media handles
The Federal High Court sitting in Lagos has held that a Central Bank of Nigeria, CBN, regulation, which requires financial…
Forex crisis: Why we granted 14 IMTOs approval on FX remittance – CBN
The Central Bank of Nigeria (CBN) has said that it has granted 14 new International Money Transfer Operators, IMTOs Approval-in-Principle…
Naira’s depreciation: We’re waiting for CBN intervention — Bureau de change operators
Naira’s woes continue for the second week as legitimate operators of Bureau De Change, BDC, await the Central Bank of…
Hardship: CBN plans transfer of N5.5tn to Finance Ministry, DFIs
The Central Bank of Nigeria, CBN, will transfer N5.5 trillion for development activities to the Ministry of Finance, Development Finance…
CBN: Cardoso reveals what MPC will do to bring down Nigeria’s inflation
Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has said that the members of the Monetary Policy Committee,…
CBN: Tinubu reportedly orders suspension of cybersecurity levy
President Bola Ahmed Tinubu has reportedly asked the Central Bank of Nigeria to suspend the implementation of the controversial cybersecurity…
CBN eases restrictions on repatriating of proceeds by IOCs in Nigeria
The Central Bank of Nigeria, CBN has eased its restrictions on repatriating oil and gas export foreign exchange proceeds by…
CBN releases list of licensed Deposit Money Banks in Nigeria
The Central Bank of Nigeria has announced 44 lists of licensed deposit money banks in Nigeria. The apex bank disclosed…
CBN orders Nigerian banks to suspend cash deposit charges
The Central Bank of Nigeria has ordered banks to stop charges on cash deposits. The apex bank disclosed this in…
NLC differs on CBN’s cybersecurity levy
The Nigeria Labour Congress, NLC, has rejected the recent order by the Central Bank of Nigeria, CBN, of 0.5 per…
CBN 0.5 percent cybersecurity charges: List of transactions exempted from payment
The Central Bank of Nigeria, CBN, on Monday, mandated all banks in Nigeria to collect and remit a 0.5 per…
Court okays issuance of contempt notice on CBN Gov, over unpaid judgment
The Federal High Court in Abuja has authorised the issuance of notices of contempt proceeding against the Governor of Central…
Recapitalization: Nigerian Banks’ Non-performing Loan alarming – CBN
Deputy governor of Financial System Stability of the Central Bank of Nigeria (CBN), Philip Ikeazor, has said that the rise…
Illicit FX transaction: Opay breaks silence over CBN restriction
Nigeria’s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria’s restriction. According…