CBN Approves Release of Nigerian FX Code, Formal Launch Set for Next Week
The Central Bank of Nigeria (CBN) has announced the approval for the release of the Nigerian Foreign Exchange (FX) Code. This Code is intended to serve as a guideline to…
Central Bank of Nigeria
CBN Announces New Guidelines for Banks on Unclaimed Balances and Dormant Accounts
The Central Bank of Nigeria (CBN) has mandated that all banks and financial institutions transfer dormant accounts, unclaimed balances, and other financial assets to a dedicated account established for this…
Nigeria’s External Reserves May Slightly Decrease in 2024, Says CBN
The Central Bank of Nigeria (CBN) has projected a slight reduction in Nigeria’s external reserves in 2024. This forecast is detailed in the recently released maiden edition of its ‘Macroeconomic…
CBN Expresses Confidence in Nigeria’s Economic Recovery
On Monday, the Central Bank of Nigeria (CBN) sought to uplift spirits, assuring Nigerians that despite current economic challenges, the nation’s economy is on a path towards strength. CBN Governor…
CAC to Invalidate Certificates of BDCs with Revoked Licences
The Corporate Affairs Commission (CAC) has announced its intention to cancel the certificates of incorporation of Bureaux De Change (BDCs) whose licenses were revoked by the Central Bank of Nigeria…
CBN bars foreign oil firms from repatriating 100% FX proceeds at once
The Central Bank of Nigeria (CBN) has stopped international oil companies from repatriating 100% foreign exchange proceeds to their mother companies overseas at once. The apex bank said international oil…
Emefiele regains freedom after perfecting bail conditions
Former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has been released from the Kuje Correctional Center after his lawyers met his bail conditions. His lawyer and Senior Advocate of…
CBN suspends charges on cash deposits above N500,000
The Central Bank of Nigeria (CBN) has suspended charges on cash deposits about N500,000 till April 30, 2024. The CBN made this known in a statement on Monday signed by…
Again, Federal Court grants Emefiele Bail
Justice Hamza Muazu of the High Court of the Federal Capital Territory, Abuja, has granted former Central Bank Governor, Mr. Godwin Emefiele bail in the sum of N300 million and…
CBN cautions against panic withdrawals, says old naira notes remain legal tender
The Central Bank of Nigeria (CBN) has once again assured Nigerians that there are enough naira notes in the country and warned them not to panic. The apex bank, in…