CBN will spend $3bn loan to stabilize economy – NEC
The National Economic Council has reconfirmed that the $3 billion emergency loan obtained by the Federal Government in August will be used to stabilize the Nigerian economy. The loan is…
Politicians won’t hijack CBN under my watch — Cardoso assures Nigerians
The newly appointed Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has reassured the Nigerian people that his leadership at the apex bank will remain focused and not…
CPPE urges new CBN gov to prioritise clearing forex backlog
The Centre for the Promotion of Private Enterprise (CPPE) has issued a call to the newly appointed Governor of the Central Bank of Nigeria, Olayemi Cardoso, urging him to prioritize…
“The CBN fails to meet its payment obligations to banks, resulting in a $10 billion debt, causing the value of the dollar to approach N1,000.”
"Despite the Central Bank of Nigeria's pledge to settle its foreign exchange debts of over $10 billion owed to Deposit Money Banks, recent investigations by The PUNCH reveal that the…
“Emefiele steps down from the position of CBN governor, clearing the path for Cardoso’s appointment.”
"Last month, Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN), resigned from his position, as reported by Reuters. President Bola Tinubu nominated Olayemi Cardoso, former head…
“The federal government’s spending for three months surpasses its revenue by N1.43 trillion, as indicated in the CBN report.”
The Federal Government’s expenditure exceeded revenue by N1.43tn in the first three months of 2023, according to figures obtained from the Central Bank of Nigeria. The CBN revealed in its…
Shortage of funds: Banks’ borrowing from CBN reaches N12 trillion.
There are indications that both commercial banks and merchant banks are relying more on the Central Bank of Nigeria for liquidity, as their borrowing from the central bank has escalated…
CBN and the bankers committee will enhance efforts to raise awareness in the field of cybersecurity.
The Committee of Chief Information Security Officers of the Nigerian Financial Industry (CCISONFI), in collaboration with the Central Bank of Nigeria (CBN) and the Bankers Committee, has initiated a fresh…
Nigeria’s foreign reserves could be depleted by up to 40% due to CBN loans obtained from international banks.
"The largest economy in Africa is currently facing its most severe economic crisis in decades, with concerns arising as the Central Bank of Nigeria's (CBN) debt to foreign banks might…
Tinubu Appoints Obazee: The phrase “Tinubu appoints Obazee to probe CBN” suggests that Tinubu has chosen Obazee to investigate the Central Bank of Nigeria (CBN).
President Bola Tinubu has appointed Osayande Obaze, the former Chief Executive Officer of the Financial Reporting Council, as a Special Investigator to conduct a probe into the Central Bank of…
CBN urges risk managers to deploy tech against cybercrime.
The Central Bank of Nigeria (CBN) on Tuesday advised risk managers to adopt new technologies that do not cause harm in the digital economy but help in eliminating cybercrime. Risk…
The Central Bank of Nigeria (CBN) cautions banks about engaging in transactions with countries such as Cameroon, Croatia, and others.
The Central Bank of Nigeria (CBN) has issued a warning to commercial banks and other financial institutions regarding the potential risks associated with conducting business transactions involving Cameroon, Croatia, Vietnam,…
CBN COLLABORATES WITH BILL GATES TO ENHANCE FINANCIAL INCLUSION
"The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized their plans to enhance financial inclusion in the country. In discussions held last week,…
Nigerian Central Bank Moves To Grab Unclaimed Funds In Banks, Dormant Account Balances
The Central Bank of Ivory Coast has announced that it will transfer all inactive account balances and unclaimed funds from banks into a special account it has set up. This…