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FX transactions: CBN cautions public on use of fake SWIFT messages

The Central Bank of Nigeria (CBN) has advised bank customers to be cautious about the use of fake SWIFT messages during foreign exchange (FX)...
Business

CASH SCARCITY: After Ripples Nigeria report, CBN threatens to sanction banks with empty ATMs, selling new notes

The Central Bank of Nigeria (CBN) has directed banks to prioritise cash disbursement through automated teller machines (ATMs) and desist from selling new naira...
Business

CBN gives banks approval to trade with deposited FX under disclosure scheme

The Central Bank of Nigeria (CBN) has granted banks the approval to trade with foreign currencies deposited under the amnesty initiative for the foreign...
Business

CBN to deploy all tools to curb inflation —Cardoso

The Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso has reiterated the willingness of the apex bank to deploy all tools to...
Business

IFC To Boost Local Currency Financing For Nigerian Businesses With $1bn

The International Finance Corporation has reached an agreement with the Central Bank of Nigeria for local currency financing worth $1bn.The IFC is a member...
Business

Market Turnover Drops 10.75% To N33.59trn Amidst Forex Volatility

The total spot market turnover for all products traded in Nigeria’s secondary market in September 2024 amounted to N33.59trn, reflecting a 10.75 per cent...
Business

No deadline on withdrawal of old Naira notes – CBN

The Central Bank of Nigeria (CBN) said on Thursday it has not fixed any deadline for the withdrawal of the old N200, N500, and...
Business

Reps urge CBN to increase agricultural lending to 7%

The House of Representatives on Tuesday urged the Central Bank of Nigeria (CBN) to raise agricultural lending from 1.4 percent to 7 percent over...
Business

CBN to verify $7bn outstanding FX backlog claims, says Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has said the apex bank is working towards verifying the outstanding claims...
Business

Cybersecurity in focus as CBN warns banks to stay ahead of hackers

The Central Bank of Nigeria (CBN) has sounded the alarm on cybersecurity, urging banks to invest heavily in safeguarding depositors’ savings from hackers.Speaking at...
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