Banking and Finance

The Central Bank of Nigeria has reassured Nigerians that there are enough naira notes in circulation to meet their cash needs. CBN’s Acting Director of Corporate Communications, Mrs Hakama Ali, gave the assurance in a statement on Wednesday. This came amid growing apprehension over…

The Central Bank of Nigeria has announced the suspension of processing fees on significant cash deposits, as disclosed in a statement by the Acting Director of Supervision, Dr. Adetona Adedeji, on Monday. The new development under the “Guide to Charges by Banks, Other…

The Central Bank of Nigeria has warned Nigerians to be wary of counterfeit naira notes in circulation amid reports of currency shortage in the country. In a statement released on Friday titled ‘Beware of Counterfeit Naira Banknotes in Circulation,’ the apex bank advised…

The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has called on African leaders to create quality jobs for their teeming unemployed youths, to stem the trend of brain drain bedevilling the continent. Adesina said in Abuja on Friday at the Second…

According to a circular from the Nigeria Interbank Settlement System Plc (NIBSS), banks in Nigeria have been directed to take down every non-deposit-taking financial institution from their NIP (NIP is an account-based, online real-time Electronic Funds Transfer (EFT) platform.)fund transfer channels. The NIP fund transfer…

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has approved the Apex Bank’s reviewed service Charter. This was disclosed in a statement issued by the CBN on Thursday, with the Service Charter said to be a requirement of the Business…

The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a Friday circular by the apex bank which instructed banks to place a “Post…

As the crises of unclaimed dividend lingers, the Securities and Exchange Commission, SEC, has concluded arrangement to create a new e-dividend portal that will facilitate the processing of shareholders’ dividend payment. The Director General of SEC, Lamido Yuguda, disclosed this last weekend while answering…

For the second time in two months, the Central Bank of Nigeria (CBN) has postponed the Monetary Policy Committee (MPC) meeting where key monetary decisions are expected to be decided. This is happening amidst the rising inflation in the country with stakeholders expecting…

The Central Bank of Nigeria said that its monetary policy reforms are beginning to have positive effects on the country’s economy. Reacting to the just-released inflation rate for October in a statement issued by the Director of the Corporate Communications Department, CBN Isa…