CBN Devalues Naira As Currency Exchanges For N630/$
The Central Bank of Nigeria has devalued the naira as the currency traded for N630 a dollar at the Investors & Exporters window on Thursday.
CBN Increases Interest Rate To 18.5%
The Central Bank of Nigeria has raised the Monetary Policy Rate (MPR) which measures interest rates to 18.5% to tame inflation.
Telecos Withdraw USSD Services from Banks Amidst Growing Debt Crisis
Starting from 7 pm today, bank customers may face difficulties accessing online banking transactions that rely on the Unstructured Supplementary...
CBN Clears Air On BVN Expiry Date
The Central Bank of Nigeria says the Bank Verification Number does not have expiry date as against reports making rounds.
CBN Vows To Penalise Shipping Companies Exporting Undocumented Cargoes
The Central Bank of Nigeria has vowed to penalise shipping companies exporting undocumented cargoes to the country.
Senate Approves Buhari’s N22.7trn CBN Loan Request
The Senate has approved N22.7 trillion borrowed by the President Muhammadu Buhari administration from the Central Bank of Nigeria.
Protesters Demand Resignation, Arrest Of Emefiele Over Naira Redesign Policy
Some protesters have stormed the headquarters of the CBN to demand the resignation and arrest of Godwin Emefiele over the disastrous naira redesign policy.
CBN Denies Plans To Phase Out New Naira Notes
The Central Bank of Nigeria says it has no plans to phase out the new naira notes from circulation, OduNews reports.
Cash Scarcity Crippled Nigeria’s Economy – UN
The United Nations says the cash swap policy of the Central Bank of Nigeria which led to cash scarcity crippled Nigeria's economy.
Nigeria’s External Reserves Fall By $1.4bn
The Central Bank of Nigeria says the country's external reserves fell by $1.4 billion between January and March 2023.
Banks Limit Cash Withdrawals Amid CBN Directive
Banks in the Federal Capital Territory limit cash withdrawals for customers as the Central Bank of Nigeria instructs the return of old denominations and raises ATM and over-the-counter withdrawal limits.
Banks To Open Saturdays, Sunday As CBN Says Enough Money Now Distributed
The Central Bank of Nigeria says it has distributed substantial money to commercial banks to ameliorate the suffering occasioned by the failed Naira policy.
CBN To Release Old Notes To Banks Today
The Central Bank of Nigeria says mopped-up old notes will be released to commercial banks today (Thursday). OduNews reports.
NLC To Protest At CBN’s Offices Over Naira Scarcity
The Nigerian Labour Congress has directed workers to stage protests at offices of the Central Bank of Nigeria across the country, OduNews reports.
CBN Pegs Interest Rate At 18%
The Central Bank of Nigeria has increased the benchmark interest rate by 50 points to 18%, OduNews reports.
We Lost N30bn Worth Of Eggs Over Naira Scarcity – Poultry Farmers
The Poultry Farmers Association of Nigeria says it lost over N30 billion worth of eggs due to the naira scarcity that ravaged the country.
Nigeria’s Inflation Rate Jumps To 21.9% Amid Failed Naira Policy
Nigeria's inflation rate increased to 21.9% in February 2023 from the 21.82% recorded in January, OduNews reports.
Nigerian Banks Extend Form A Processing Time Amid Forex Shortages
Discover the latest developments in Nigerian commercial banks' handling of international school fees and upkeep requests, including extended processing times and new limits due to forex scarcity.
CBN Has Ordered Banks To Pay Old Notes – Soludo
Anambra state governor, Charles Chukwuma Soludo, says the central bank of Nigeria has directed commercial banks to start paying old notes to customers.
BEWARE! Buhari, Emefiele Setting A Dangerous Precedent!
This is not the first time President Muhammadu Buhari' will brazenly disregard the ruling of a court and he now appears to make such his greatest legacy.