CBN

10 Minutes

Business

JUST IN: Banks get three-month deadline to stop forex-backed loans

Akanji Philip April 9, 2024 0 Comment

The Central Bank of Nigeria on Monday stepped up its fight to boost foreign exchange liquidity in the economy with a new circular mandating Deposit Money Banks to stop the use of foreign currencies...

1 Minute

Business

Dollar to BDCs now N1,101/$1 – CBN

VAM News April 8, 2024 0 Comment

Voice Air Media, News Update THE Central Bank of Nigeria (CBN) has announced the sales of foreign exchange (FX) to the bureau de change (BDC) operators at the rate of N1,101/$. The CBN disclosed...

2 Minutes

Business National

Merger looms in Nigeria as CBN raises Bank’s capital requirements from N25bn to N200 billion, others

VAM News March 29, 2024 0 Comment

VOICE AIR MEDIA, VAM News Update Bank mergers are imminent as the Central Bank of Nigeria, CBN, has raised minimum capital requirements for banks. CBN disclosed this in a circular signed by the Financial...

1 Minute

Business

CBN tops up interest rate to 24.75%

VAM News March 26, 2024 0 Comment

VOICE AIR MEDIA, News Update The Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate, by 200 basis points per cent to 24.75 per cent from 22.75 per...

2 Minutes

Local News

Disquiet as Cardoso begins cleansing at CBN, eases out Directors

VAM News March 18, 2024 0 Comment

VOICE AIR MEDIA, VAM News Update Barring any last minute changes, at least eight directors at the Central Bank of Nigeria (CBN) would be served early retirement letters from the apex bank this week....

Featured -3 Minutes

CBN printing of N22tn under Buhari fueled inflation –Edun

Akanji Philip March 7, 2024 0 Comment

The Minister of Finance and Coordinating Minister of Economy, Wale Edun, has said the N22.7tn printed by the Central Bank of Nigeria through Ways and Means overdraft for the Federal Government from 2015 to...

1 Minute

Local News

CBN revokes operating licenses of 4173 BDCs

VAM News March 1, 2024 0 Comment

Voice Air Media, VAM News Update THE Central Bank of Nigeria (CBN) says it has revoked the licences of over 4,000 Bureau De Change operators violating operation regulations. The apex bank “has revoked the...

2 Minutes

National

Naira-Dollar rate: CBN resumes sale of FX to BDCs

VAM News February 27, 2024 0 Comment

THE Naira on Monday appreciated against the dollar at the official and unofficial foreign exchange (FX) markets as the Central Bank of Nigeria (CBN) plans to resume dollar sales to Bureau De Change (BDC)...

2 Minutes

Business Economy

Inflation: CBN increases Price Verification System limit from 2.5% to 15%— Report

Akanji Philip February 16, 2024 0 Comment

The Central Bank of Nigeria (CBN) has announced an upward review of the Price Verification System (PVS) from 2.5 per cent to 15 per cent. According to a circular by Dr Hassan Mahmud,...

3 Minutes

Business

BREAKING: CBN stops IOCs from 100% income repatriation

Akanji Philip February 15, 2024 0 Comment

The Central Bank of Nigeria (CBN) has announced far-reaching measures to shore up the value of the Naira, with more liquidity in the Foreign Exchange (FX) market as it directed International Oil Companies to...