CBN

The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) against the practice of circulating mutilated banknotes which is part of their deposits with the apex bank. The CBN has expressed concerns over the increasing number…

The Central Bank of Nigeria has released a guideline for Credit Guarantee Schemes to solve the challenge of limited access to credit by MSMEs. This was disclosed in a recently released circular to all banks and other financial…

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the bank would continue to support Nigeria’s economic growth through its intervention programmes. According to Emefiele, CBN’s intervention schemes have helped…

Nigeria’s foreign trade data, released by the National Bureau of Statistics (NBS) reported that Nigeria imported durum wheat worth N1.29 trillion in 2021, representing a 71.1% increase compared to N756.92 billion recorded in the previous…

The Central Bank of Nigeria has pegged the minimum transaction limit for corporate and individuals transacting with Bank Neutral Cash Hubs (BNCH) at N1m and N500,000 respectively. The banking regulator disclosed this in a guideline for…

The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed has stated that the mobilization of domestic savings for capital formation and investment are critical success factor for harnessing the true growth potential of the…

The potential expansion of the use of the eNaira to cross-border fund transfers and agency bank networks could lead to new money-laundering and terrorism financing risks. This was disclosed in the International Monetary Fund’s ‘Nigeria…

The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September. The CBN disclosed these figures in its latest monthly economic report…

The Central Bank of Nigeria and others particularly the financial services regulators, would invest N1.54 trillion over five years to increase liquidity in the financial services sector. The government intends to boost the liquidity…

The Central Bank of Nigeria has said that the banking sector will increase access to loans for Nigerian households and businesses in 2022. This was disclosed by Governor of the Central Bank of Nigeria, Godwin Emefiele, in a statement.…