CBN

March 25, (THEWILL) — A Federal High Court sitting in Lagos has ruled that the Central Bank of Nigeria (CBN) acted beyond its statutory powers in dissolving the board and management of Union Bank of Nigeria, declaring the action...

March 25, (THEWILL) — The Central Bank of Nigeria has introduced new measures to strengthen oversight of diaspora remittances, directing all international money transfer operators (IMTOs) to route transactions through designated naira settlement accounts with authorised dealer banks. The directive,...

March 23, (THEWILL) — Nigeria’s monetary authorities have renewed their focus on price stability, with the Central Bank of Nigeria (CBN) signalling a strong commitment to achieving single-digit inflation in the medium term. Inflation has remained a persistent challenge in...

March 18, (THEWILL) — Deposit money banks have begun adjusting savings rates following the recent Monetary Policy Rate cut by the Central Bank of Nigeria (CBN), with the benchmark savings deposit rate now at 7.95 percent per annum, representing...

March 18, (THEWILL) — The Central Bank of Nigeria (CBN) is set to raise ₦1.05 trillion at a Treasury Bills auction scheduled for March 18, bringing total short-term borrowing by the Federal Government to nearly ₦3 trillion within...

March 17, (THEWILL) — Nigeria’s payment system has experienced dramatic growth over the past decade, driven by regulatory reforms from the Central Bank of Nigeria (CBN) and technological innovation by the Nigeria Inter‑Bank Settlement System (NIBSS). The backbone of the...

March 16, (THEWILL) — Currency held outside Nigeria’s banking system dropped by about ₦198 billion, reflecting a slight moderation in cash demand and tightening liquidity conditions in the financial system. Latest money and credit statistics released by the Central Bank...

March 13, (THEWILL) — The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to place Bank Verification Numbers (BVNs) linked to suspected fraudulent transactions on a temporary 24-hour watchlist, as part of new measures to...

March 13, (THEWILL) — The Central Bank of Nigeria (CBN) has unveiled new guidelines to enhance the security and operational efficiency of instant payment services across the country. In a circular addressed to banks, other financial institutions, and payment...

March 13, (THEWILL) — The Central Bank of Nigeria (CBN) has taken decisive action to protect the stability of the nation’s banking system by directing banks to restrict access to credit and certain financial services for borrowers with large...