Tag: CBN

The Central Bank of Nigeria (CBN) hiked the Monetary Policy Rate by 150 basis points, to 26.25 percent from 24.75 percent. Mr. Olayemi Cardososo, Governor of the bank, briefed the ...

The Central Bank of Nigeria released a total sum of $2.13bn to Nigerians for importing food products in 2023, Findings by The PUNCH have shown. According to the quarterly statistics of the ...

For flouting regulations, nine financial institutions paid N678m fines in 2023, according to The PUNCH analysis of their annual reports. Last year, the financial groups were more regulatory compliant, as the fine ...

For the first time this year, Nigeria's money supply has seen a notable decline, closely linked to the Central Bank of Nigeria’s (CBN) recent hike in interest rates. Data from ...

In a recent ruling, the Federal High Court in Lagos has dismissed a legal challenge against a provision in the Central Bank of Nigeria (CBN) Customer Due Diligence Regulations 2023. ...

The Central Bank of Nigeria (CBN) has taken steps to enhance foreign currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) approval-in-principle (AIP). According ...

The International Monetary Fund has strongly urged the Central Bank of Nigeria to unwind the regulatory forbearance granted to Deposit Money Banks during the COVID-19 pandemic. It also cautioned against ...

In the first quarter of 2024, Nigeria allocated approximately $1.12 billion to service its foreign debts, underscoring the escalating burden of external debt on the nation's finances. Data from the ...

The Central Bank of Nigeria (CBN) recently directed banks to initiate the deduction of a cybersecurity levy to be administered by the Office of the National Security Adviser (NSA). This ...

The Nigeria Labour Congress (NLC) has opposed the Central Bank of Nigeria (CBN)'s directive requiring all financial institutions to levy a 0.5% cybersecurity tax on electronic transactions. In a statement ...