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…
Tag: CBN
CBN Jerks Up ATM Transaction Fees
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…
BREAKING: CBN unveils digital systems to boost govt efficiency
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…
Nigerian Govt fines 9 banks over scarcity of cash in ATMs
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…
CBN Set Daily Withdrawal Limit On POS For Customers
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…
Central Bank of Nigeria speaks on retiring 1000 workers
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…
CBN Hikes Interest Rate, Cites Inflation
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…
CBN Speaks On Deadline Of Old Naira Notes
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…
List: CBN Sanctions 10 Nigerian Banks, Here’s Why
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…
CBN Increases Interest Rate
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…