The Minister of State for Youth Development, Mr. Ayodele Olawande, has commended the Nigeria Deposit Insurance Corporation (NDIC) for its role in safeguarding depositors' funds from the adverse infects of bank failures.
Mr. Olawande also praised the Corporation for consistently supporting the Central Bank of Nigeria (CBN) in overseeing the...
The Central Bank of Nigeria (CBN) has revoked the licences of 4,173 Bureaux De Change operators in the country.
Ag. Director, Corporate Communications, CBN, Mrs. Sidi Ali, Hakama who disclosed this in a statement on Friday, March 1, 2024, said, the regulatory action was in exercise of the powers conferred...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the benchmark interest rate from 18.75 percent to 22.75 percent.
Rising from its maiden meeting on Tuesday, February 27, 2024, under Mr. Olayemi Cardoso as CBN Governor, the Committee revealed that the Monetary Policy Rate (MPR)...
The Federation Account Allocation Committee (FAAC) has shared a total sum of N1,149.816 billion January 2024 Federation Account Revenue to the Federal Government, States and Local Government Councils.
The revenue was shared at the February 2024 meeting of the Federation Accounts Allocation Committee (FAAC) chaired by the Minister of Finance...
The Central Bank of Nigeria (CBN) has approved the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer (CEO) of Access Holdings Plc.
Agbede's appointment is following the untimely passing of its former Group Chief Executive Officer, Dr. Herbert Wigwe.
Her appointment was announced by the Board of...
In an apparent move to resolve the foreign exchange crisis in the country, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd.), Mallam Mele Kyari, and the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, have reviewed the decision of the...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has expressed optimism that the nation's inflation rate which is currently at 28.92 percent would decline to 21.4 percent within the year.
Mr. Cardoso stated this Tuesday when he appeared before the House of Representatives to address critical...
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has disclosed that $2.4billion of the $7 billion Foreign Exchange backlog were invalid transactions.
Mr. Cardoso disclosed this while speaking during an Interview on Arise News Television on Monday, February 5, 2024.
He said, the apex bank has been...
The Central Bank of Nigeria (CBN) has clarified that there were no plans to Convert Domiciliary Account Holdings into Naira as alleged.
Recall that a national newspaper in its report alleged that the Federal Government was considering to convert $30billion domiciliary deposits to Naira.
However, the Ag. Director, Corporate Communications of...
Worried by the growth in foreign currency exposures of banks through their Net Open Position (NOP), the Central Bank of Nigeria (CBN) has issued Prudential Requirements for all Commercial Banks operating in Nigeria.
In a Circular referenced: TED/FEM/PUB/FPC/OOI/OOI issued on January 31, 2024, and signed by the Director, Trade and...