CBN Disowns Fake Contract Award …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has warned members of the public that some fraudsters are planing to deceive Nigerians with fake contracts. The apex bank disclosed that the perpetrators have in their possession award letters of contracts related to construction works and special financial interventions … Read more
Despite hardship, CBN raises Nigeria Customs Duty …C0NTINUE READING HERE >>> Despite the hardship ravaging Nigeria , the Central Bank of Nigeria (CBN) has adjusted the Customs duty exchange rate for clearing goods at the nation’s ports to N1,658.87 per dollar. This change, effective Monday, November 18, reflects a 0.37% increase from the previous … Read more
CBN sends strong warning to commercial banks over Naira hawking …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) says it will heavily penalise Deposit Money Banks (DMBs) found supporting the hawking of Naira notes. Mr Solaja Olayemi, Acting Director, Currency Operations Department, CBN, said this in a memo to DMBs on … Read more
‘It Is False And Fraudulent’ …C0NTINUE READING HERE >>> The Nigerians in Diaspora Commission (NiDCOM) has disassociated itself from allegations concerning a supposed ₦40 million mortgage pre-financing initiative involving HXAFRICA and the Federal Mortgage Bank of Nigeria. In a statement issued on Friday, NiDCOM characterized these allegations as untrue and deceptive. The disclaimer, which was … Read more
Nigeria’s Inflation Rate Rises to 33.8% Under President Tinubu …C0NTINUE READING HERE >>> Nigeria’s inflation rate has risen to 33.8% under President Tinubu. Newsone Nigeria reports that the National Bureau of Statistics (NBS) says Nigeria’s inflation rate was 33.88 percent in October — up from 32.7 percent in September. The data is captured in the NBS’ latest consumer price index … Read more
Woman begs CBN to permanently scrap POS businesses …C0NTINUE READING HERE >>> A Nigerian woman recently took to social media platform X (formerly Twitter) to express frustration over POS businesses, calling on the Central Bank of Nigeria, CBN to permanently shut them down. In her detailed post, she shared her dissatisfaction with the widespread use … Read more
How Emefiele Ordered Me To Transfer Funds To A Relative’s Account …C0NTINUE READING HERE >>> A former secretary in the office of the Governor of the Central Bank of Nigeria (CBN), John Ogah, has revealed how his former boss, Godwin Emefiele, directed him to transfer funds to a close relative. While testifying yesterday in an Ikeja … Read more
Senate removes CBN power to appoint CEO of NDIC …C0NTINUE READING HERE >>> The Central Bank of Nigeria, CBN has been stripped of its power to appoint the CEO of the Nigerian Deposit Insurance Corporation, NDIC. Nigerian Senate on Tuesday stripped the CBN its power through an amendment of the Bank Deposit Regulator’s … Read more
IBRAHIM MODIBBO CBN: The diaspora exploration …C0NTINUE READING HERE >>> By Dr Ibrahim Modibbo In the race towards globalization and multiculturalism in moderneconomies, consensus is built around strategic thinking for the commongood of the people. Conscious of the enormity of myriad of problemsconfronting the Nigerian economy, the Apex Bank, Central Bank of Nigeriais strategizing with … Read more
Reps Knocks CBN Over Old ₦200, ₦500, ₦1000 Validity …C0NTINUE READING HERE >>> The Labour Party Caucus Leader in the House of Representatives, Afam Ogene, has criticized the Central Bank of Nigeria (CBN) for its lack of clarity regarding the use of both old and new Naira notes. Ogene’s statement, released in Abuja on Friday, … Read more
Old naira notes not expiring in December …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has dismissed reports that the old N200, N500, and N1,000 banknotes will cease to be legal tender by December 31, 2024. The Apex Bank in a statement by Mrs. Sidi Ali, the Acting Director of Corporate Communications, the … Read more
CBN Speaks On Deadline For Old ₦200, ₦500, And ₦1,000 Naira Notes …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) has officially refuted rumours suggesting that old Naira notes will cease to be legal tender by December 31, 2024. In a decisive statement issued by the Acting Director of Corporate Communications, Mrs. Hakama … Read more
Withdraw Old Naira Notes, Release Sufficient New Notes- Nigerian Lawmakers Tell CBN …C0NTINUE READING HERE >>> Nigerian lawmakers have asked the CBN to withdraw old Naira notes and release sufficient new ones. Newsone Nigeria reports that the House of Representatives has urged the Central Bank of Nigeria (CBN) to ensure the wide circulation of new notes … Read more
Reps Issues Directive To CBN On Old And New Naira Notes …C0NTINUE READING HERE >>> The House of Representatives have asked the Central Bank of Nigeria (CBN) to withdraw old currency notes and increase the issuance of new naira notes. In response to a motion of urgent national significance put forth by Adam Victor Ogene … Read more
CBN prioritising financial inclusion for women – Cardoso …C0NTINUE READING HERE >>> The Governor, Central Bank of Nigeria (CBN), Mr Yemi Cardoso, said that the government was increasing financial inclusion for women as a top priority. Cardoso said this during a question-and-answer session at the 30th Nigeria Economic Summit (NES30) in Abuja on … Read more
World Bank Says Naira Is Among Worst Performing Currencies in Africa …C0NTINUE READING HERE >>> According to the World Bank, Naira is among Africa’s worst-performing currencies. Newsone Nigeria reports that Nigeria’s official legal tender, the Naira is among the worst-performing currencies in sub-Sahara Africa at the end of August 2024. This online news platform understands that … Read more
How our interventions produced encouraging outcomes – Cardoso …C0NTINUE READING HERE >>> Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says “strategic interventions” of the apex bank have produced encouraging outcomes. He stated this while making a presentation at a stakeholders’ meeting held by the House Committee on Banking Regulations, on … Read more
Allen Onyema: Inside details emerge on how Air Peace boss allegedly used fake documents to swindle CBN of FX …C0NTINUE READING HERE >>> The United States Attorney’s Office of Northern District of Georgia has published damning details revealing how the Chief Executive Officer (CEO) of Air Peace, Allen Onyema allegedly used fake documents to … Read more
Why we implemented EFEMS – CBN Gov, Cardoso …C0NTINUE READING HERE >>> Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says the apex bank’s decision to implement the Electronic Foreign Exchange Matching System (EFEMS) is to ensure trust. According to a statement by CBN’s Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali, … Read more
CBN sells $543m to banks to check market volatility …C0NTINUE READING HERE >>> The Central Bank of Nigeria (CBN) says it sold 543.5 million dollars to authorised dealer banks between September 6 and September 30. According to a statement issued by Omolara Duke, the Director, Financial Markets Department of the CBN, the transaction was through … Read more