The Central Bank of Nigeria is responsible for issuance of the legal tender currency, in line with its mandate as enshrined in section 2(b) of the CBN Act 2007. CBN approved an…
Tag: CBN
Breaking: Naira falls heavily after CBN announcement to redesign naira
The Central Bank of Nigeria’s decision to redesign the Naira, the country’s currency, has greatly increased demand on the foreign exchange market. As more people look to buy dollars to exchange…
Finance Minister: CBN did not consult me on plan to redesign naira
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said her office was not consulted by the Central Bank of Nigeria, CBN before its plan to redesign redesign N200,…
Three naira notes to gain new form as CBN names date of circulation
The Central Bank of Nigeria Governor, Godwin Emefiele has said the apex bank will redesign three naira notes. He said the bank had obtained approval from President Mohammadu Buhari to redesign N200,…
We have put policies in place to tackle naira depreciation- CBN
The Central Bank of Nigeria (CBN) has stated that it has established policies to address the persistent depreciation of the naira. The local currency currently exchanges N440/$1 at the official market…
CBN completes sales of Polaris Bank to SCIL
THE Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have formally announced the completion of a Share Purchase Agreement (SPA) for the acquisition of 100% of the…
FG Seeks Help From Citizens to Pay CBN’s N20trn Loan (Details)
The federal government has announced plans to repay its N20 trillion debt owed to the Central Bank of Nigeria (CBN) by issuing securities such as treasury bills and bonds for Nigerians to…
Nigerians face harder times as CBN increases interest rate for 3rd consecutive time
The Monetary Policy Committee, MPC, of the CBN increased Monetary Policy Rate, MPR, from 14 per cent to 15.5 per cent on Tuesday to tame inflation. The committee had increased the MPR…
2023: INEC, CBN Break Ties After Emefiele’s Failed Presidential Bid
The Chairman of the independent National Electoral commission (INEC), Mahmood Yakubu, has announced withdrawal of sensitive electoral materials from the custody of the Central Bank of Nigeria (CBN). Yakubu disclosed this at…
Bank Customers To Produce Indemnity For Online Transfers Above N1m – CBN
The Central Bank of Nigeria has directed banks and Payment Service Providers to accept indemnity from customers for highly secured online funds transfers. This was contained in a circular signed by the…