Naira falls to N1,510/$ in parallel market
The naira weakened further in the parallel market on Monday, trading at N1,510 per dollar, down from N1,505 over the weekend. Meanwhile, in the Nigerian...
Naira drops to N1,495/$ in parallel market
The Naira continued its decline in the parallel market on Thursday, trading at N1,495 per dollar, down from N1,490 per dollar recorded on Wednesday. Similarly,...
Court orders forfeiture of $4.7M, ₦830M, properties linked to ex-CBN Gov
A Federal High Court in Lagos has issued a final forfeiture order on funds and properties associated with former Central Bank of Nigeria (CBN) Governor,...
CBN probes 19.7 million dormant bank accounts
The number of dormant bank accounts in Nigeria is over 19.69 million, according to the industry customer account database released by the Nigeria Inter-Bank Settlement...
Publish list of dormant accounts – CBN to Banks
The Central Bank of Nigeria has directed all banks and financial institutions to publicly disclose details of dormant accounts, unclaimed balances, and other financial assets...
CBN instructs Banks to cut insider loans within six months
Nigeria’s banking regulator has issued a sweeping directive mandating commercial banks to comply with stricter insider lending limits or risk regulatory sanctions. Insider lending is...
Reverse ATM charge hike in 48 hours or face legal action – SERAP to CBN
SERAP Deputy Director, Kolawole Oluwadare, in an open letter dated February 15, 2025, urged CBN Governor Olayemi Cardoso to immediately reverse the policy. According to...
CBN shares update on N100 ATM withdrawal charge
The Central Bank of Nigeria has said the N100 fee subsists for banks’ customers withdrawing less than N20,000 cash from other banks’ Automated Teller Machines...
Banks restricting withdrawals below N20,000 will be sanctioned- CBN
The Central Bank of Nigeria (CBN) has warned that it will sanction any bank that prevents customers with sufficient funds from withdrawing up to N20,000...
BREAKING: Again Nigeria’s inflation rate eases in August
Nigeria’s annual inflation rate eased again in August after a persistent rise in nearly two years. Inflation rate eased further to 32.15 per cent in...