cbn

  1. Nigeria’s GDP to Grow by 4.17% in 2025, Says CBN

    Nigeria Nigeria’s GDP to Grow by 4.17% in 2025, Says CBN

    The Central Bank of Nigeria (CBN) projects a 4.17% GDP growth for 2025, driven by fiscal and monetary reforms, stable oil prices, and improved oil production. The bank aims to reduce inflation to 15%, supporting SMEs and fostering a resilient, diversified economy through ongoing reforms. The...
  2. CBN Announces Plan to End Naira Trading

    Nigeria CBN Announces Plan to End Naira Trading

    CBN Governor Dr. Olayemi Cardoso has pledged to combat the commoditization of the Naira, emphasizing its vital role in Nigeria’s economy. Speaking at the CHBO Stakeholders’ Conference, he outlined strategies including public awareness, improved cash distribution, digital payment promotion, and...
  3. Former CBN Workers Sue Over 2024 Layoff, Seek N30 Billion Compensation

    Nigeria Former CBN Workers Sue Over 2024 Layoff, Seek N30 Billion Compensation

    Former employees of the Central Bank of Nigeria (CBN) have filed a lawsuit over alleged wrongful dismissal during a mass layoff in 2024. The claimants argue that their termination violated internal policies, Nigerian labor laws, and constitutional rights, seeking reinstatement and N30 billion in...
  4. K

    Business Naira depreciates to N1,660/$ in parallel market - Vanguard News

    https://www.vanguardngr.com/2025/01/naira-depreciates-to-n1660-in-parallel-market-2/
  5. Central Bank of Nigeria to Sell $25,000 Weekly to BDCs for FX Liquidity

    Nigeria Central Bank of Nigeria to Sell $25,000 Weekly to BDCs for FX Liquidity

    The Central Bank of Nigeria (CBN) has granted Bureau De Change (BDC) operators temporary access to purchase $25,000 weekly from banks to meet increased foreign exchange demand during the yuletide period, from December 19, 2024, to January 30, 2025. This aims to stabilize the retail market and...
  6. CBN Imposes N100,000 Daily Withdrawal Limit on PoS Transactions

    Nigeria CBN Imposes N100,000 Daily Withdrawal Limit on PoS Transactions

    The Central Bank of Nigeria (CBN) has introduced limits on Point of Sale (PoS) withdrawals, capping daily transactions at N100,000 per customer. This new measure aims to promote a cashless economy, combat fraud, and enforce consistent operational standards, with penalties for non-compliance...
  7. K

    Business Central Bank Of Nigeria Says 94% Of Cash In Circulation Outside Banks And Presently N4.3trillion - Sahara Reporters

    https://saharareporters.com/2024/12/15/central-bank-nigeria-says-94-cash-circulation-outside-banks-and-presently-n43trillion
  8. Old Naira Notes Still Valid, CBN Clarifies After Confusion

    Nigeria Old Naira Notes Still Valid, CBN Clarifies After Confusion

    The Central Bank of Nigeria (CBN) confirmed that old N200, N500, and N1000 notes remain valid following a Supreme Court ruling. The notes will continue to circulate indefinitely with no deadline for use, despite claims otherwise. Nigerians are encouraged to accept all Naira notes and embrace...
  9. CBN Launches Helplines for Cash Scarcity Complaints

    Nigeria CBN Launches Helplines for Cash Scarcity Complaints

    The Central Bank of Nigeria (CBN) introduces dedicated phone numbers and emails for Nigerians to report cash withdrawal challenges at banks and ATMs. This initiative aims to improve currency circulation, enforce compliance among banks, and address public concerns about cash scarcity efficiently...
  10. CBN to Retire 1,000 Staff, Announces ₦50 Billion Exit Plan

    Nigeria CBN to Retire 1,000 Staff, Announces ₦50 Billion Exit Plan

    The Central Bank of Nigeria (CBN) plans to retire 1,000 employees by December 31, 2024, under a ₦50 billion workforce realignment initiative. Eligible staff will receive financial incentives through the Early Exit Package (EPP), with applications closing on December 7. This move aims to...
  11. CBN to Penalize Banks for ATM Cash Scarcity, Cardoso Warns

    Nigeria CBN to Penalize Banks for ATM Cash Scarcity, Cardoso Warns

    The Central Bank of Nigeria (CBN) has warned banks to prioritize cash disbursement through ATMs, threatening severe penalties for non-compliance. Governor Olayemi Cardoso emphasized that banks engaged in sabotage or malpractices will face strict penalties. The CBN also highlighted reforms to...
  12. K

    Business CBN pegs minimum trade on new electronic FX system at $100,000 - Vanguard News

    https://www.vanguardngr.com/2024/11/cbn-pegs-minimum-trade-on-new-electronic-fx-system-at-100000/
  13. Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals

    Nigeria Today's Naira Rate[26-10-2024]: Naira Falls to N1,740/$ in Parallel Market as Official Rates Show Mixed Signals

    The Naira depreciated to N1,740 per dollar in the parallel market while appreciating to N1,601.2 in the Nigerian Autonomous Foreign Exchange Market. Trading volume in the official market increased by 23%, widening the gap between parallel and official rates to N140 per dollar, signaling ongoing...
  14. CBN’s Olayemi Cardoso Addresses Floating the Naira and Its Impact on Inflation

    Nigeria CBN’s Olayemi Cardoso Addresses Floating the Naira and Its Impact on Inflation

    CBN Governor Olayemi Cardoso explained the rationale for floating the Naira to align official rates with market realities. He highlighted the need for credibility in monetary policy, acknowledging criticism but emphasizing transparency and stability. Cardoso also discussed raising the Monetary...
  15. K

    Business CBN introduces Electronic Foreign Exchange Matching System for FX transactions to curb distortion and speculation - Linda Ikeji’s Blog

    https://www.lindaikejisblog.com/2024/10/cbn-introduces-electronic-foreign-exchange-matching-system-for-fx-transactions-to-curb-distortion-and-speculation-2.html
  16. CBN to Sanction Banks Failing to Dispense Cash via ATMs

    Nigeria CBN to Sanction Banks Failing to Dispense Cash via ATMs

    The Central Bank of Nigeria (CBN) will penalize banks that fail to dispense cash via ATMs, aiming to ensure sufficient cash availability. CBN Governor Yemi Cardoso announced a monitoring system for compliance and plans to release an additional N1.4 trillion into circulation over the next three...
  17. CBN: Dangote Refinery to Lower Transportation Costs and Food Inflation

    Nigeria CBN: Dangote Refinery to Lower Transportation Costs and Food Inflation

    The Central Bank of Nigeria (CBN) predicts that Dangote Refinery's petrol supply will reduce transportation costs and ease food inflation. The CBN has raised the Monetary Policy Rate to tackle rising inflation, which currently stands at 32.15%, driven by increasing food prices and energy costs...
  18. Inflation Control: CBN Lifts Interest Rate to 27.25% in Latest MPC Meeting

    Nigeria Inflation Control: CBN Lifts Interest Rate to 27.25% in Latest MPC Meeting

    The Central Bank of Nigeria (CBN) has raised its Monetary Policy Rate from 26.75% to 27.25% to control rising inflation. CBN Governor Olayemi Cardoso announced this decision after the Monetary Policy Committee’s 297th meeting. The increase is aimed at stabilizing the economy by curbing...
  19. K

    Business CBN says it will continue controversial cybercrime levy at 0.005% in new guidelines - Nairametrics

    https://nairametrics.com/2024/09/18/cbn-says-it-will-continue-controversial-cybercrime-levy-at-0-005-in-new-guidelines/
  20. Nigeria's $36B Foreign Reserves Face Pressure: CBN Sounds Alarm

    Nigeria Nigeria's $36B Foreign Reserves Face Pressure: CBN Sounds Alarm

    Nigeria's central bank warns of risks to foreign reserves due to petrol subsidy removal and lower oil earnings. Despite $36.08 billion in reserves, increased debt servicing and potential capital outflows pose challenges. The CBN remains optimistic, citing favorable trade terms and rising oil...
Back
Top