CBN

2 Minutes

National

Reps to CBN: Suspend ATM Fee Hike to Ease Nigerians’ Financial Burden

Akanji Philip March 11, 2025

The house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the increase in automated teller machines (ATMs) transaction fees. The resolution was passed during plenary on Tuesday sequel to...

1 Minute

Business National

CBN Jerks Up ATM Transaction Fees

VAM News February 11, 2025

News Update THE Central Bank of Nigeria (CBN) has announced changes to ATM transaction fees, set to begin on March 1st, 2025. The adjustment comes as part of efforts to manage rising operational costs...

2 Minutes

Business

BREAKING: CBN unveils digital systems to boost govt efficiency

Akanji Philip January 16, 2025 0 Comment

The Central Bank of Nigeria has unveiled two digital innovations—the Document Flow System and the Ministries, Departments, and Agencies Naira Payment Solution—at an event held on Wednesday, January 15, 2025, at its headquarters in...

1 Minute

Business National

Nigerian Govt fines 9 banks over scarcity of cash in ATMs

VAM News January 15, 2025 0 Comment

News Update THE Central Bank of Nigeria, CBN, has issued fines to at least nine Deposit Money Banks for failing to ensure cash availability via automated teller machines, ATMs, during the festive season. The...

2 Minutes

National

CBN Set Daily Withdrawal Limit On POS For Customers

VAM News December 18, 2024 0 Comment

News Update THE Central Bank of Nigeria (CBN) has set a daily withdrawal limit on point-of-sale (PoS) terminals to N100,000 per customer. In a circular to all deposit money banks (DMBs), microfinance Banks, mobile...

1 Minute

National

Central Bank of Nigeria speaks on retiring 1000 workers

VAM News December 5, 2024 0 Comment

News Update THE Central Bank of Nigeria (CBN) has addressed concerns over its Early Exit Package (EEP), clarifying that it is a voluntary program and not a forced mass retirement. The CBN revealed that...

1 Minute

Local News

CBN Hikes Interest Rate, Cites Inflation

VAM News November 26, 2024 0 Comment

News Update THE Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) to 27.50 per cent from 27.25 per cent as part of efforts to combating surging inflation. This followed the...

1 Minute

National

CBN Speaks On Deadline Of Old Naira Notes

VAM News October 25, 2024 0 Comment

News Update THE Central Bank of Nigeria (CBN) has reassured the public that there is no set deadline for the use of old Naira notes. The assurance was contained in a statement issued by...

3 Minutes

Local News

List: CBN Sanctions 10 Nigerian Banks, Here’s Why

VAM News October 19, 2024 0 Comment

News Update Regulatory agencies responsible for overseeing the activities of Deposit Money Banks in Nigeria have sanctioned 10 banks for violations of foreign exchange guidelines and other regulatory offences. These agencies, including the Central...

0 Minutes

Business

CBN Increases Interest Rate

VAM News September 24, 2024 0 Comment

Voice Air Media, News Update THE monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which benchmarks interest rates, from 26.75 percent to 27.25 percent....