The Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele has shunned the invitation by the House of Representatives over the bank’s decision to stick to its January 31 deadline for the phasing out of the old naira notes. Emefiele was expected to appear before the Adhoc Committee set up ...

Oyetunji Abioye and Sami Olatunji Deposit Money Banks borrowed the sum of N21.87tn from the Central Bank of Nigeria via the Standing Lending Facility window and Repurchase Lending platform in 2020, according to the CBN financial data. This represents a 260 per cent increase when compared to ...

ADELANI ADEPEGBA and LEKE BAIYEWU The Deputy Governor, Financial System Stability, Central Bank of Nigeria, Aisha Ahmad, has said the amount spent on maintaining the naira has increased by N10bn annually. Ahmad, who revealed this on Friday  during  her appearance before the House of ...

By  Gbenga Oloniniran The Central Bank of Nigeria has increased the maximum weekly limit for cash withdrawals across all channels by individuals and corporate organisations to N500,000 and N5 million, respectively. The directive is contained in a circular issued by the bank on Wednesday and ...

By Soni Daniel, ABUJA The Federal Government is to stop cash withdrawal from all public accounts with immediate effect. In place of cash withdrawals, public officers are to open domiciliary accounts in foreign and local currencies ahead of the commencement of the new policy, which comes on ...

The new naira notes are already being counterfeited, four days after they were rolled out to the public by the Central Bank of Nigeria (CBN) through the commercial banks, The Nation findings have shown. In a video which has now gone viral, a man was heard saying his wife, who operates a ...