CBN

July 08, (THEWILL) — The Central Bank of Nigeria has directed all banks to submit a detailed Capital Restoration Plan within 10 working days after the end of each quarter, starting with the quarter ending June 30, 2025. The directive...

July 07, (THEWILL) — The Central Bank of Nigeria (CBN) has clarified misconceptions surrounding the charges associated with the recently launched Non-Resident Bank Verification Number (NRBVN) platform, affirming that no hidden fees have been introduced and that BVN enrolment...

June 18, (THEWILL) – The Central Bank of Nigeria (CBN) has introduced time-bound measures for a small number of banks still completing their transition from the temporary regulatory support provided, mostly in response to the economic impact of...

June 11, (THEWILL) – The Central Bank of Nigeria (CBN) has urged Nigerians to disregard misleading reports that it has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. A statement signed by...

June 03, (THEWILL) – The Association of Bureau De Change Operators of Nigeria (ABCON) has reaffirmed that the June 3, 2025, deadline set by the Central Bank of Nigeria (CBN) for Bureau De Change (BDC) operators to meet new...

May 27, (THEWILL) – The Central Bank of Nigeria (CBN) has introduced three non-interest financial instruments as part of its ongoing efforts to develop the non-interest financial markets and strengthen participation. A statement signed by CBN Acting Director, Financial Markets...

May 20, (THEWILL) – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the benchmark interest rate at 27.50%. The benchmark interest rate, also called the monetary policy rate (MPR), determines the cost of borrowing...

May 20, (THEWILL) – The Central Bank of Nigeria has assured the public that the country's banking sector remains safe, sound, and resilient despite recent reports circulating on social media. In a statement on Monday, the Acting Director of...

May 18, (THEWILL) – Over the years, Nigerians abroad have experienced challenges in accessing the banking services at home to meet their various requirements. Aside from the lack of trust that permeates the environment, there is also the palpable challenge...

May 14, (THEWILL) – In a move to deepen financial inclusion and boost diaspora remittances, the Central Bank of Nigeria (CBN) on Tuesday unveiled a digital platform that enables Nigerians abroad to obtain a Bank Verification Number (BVN)...