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CBN - Page 2

Naira Cash-spraying Crackdown: Cultural Policing or Economic Necessity?

In recent months, Lagos has witnessed a sharp intensification of the crackdown on spraying naira notes at social events, with the Economic and Financial Crimes Commission (EFCC) leading enforcement efforts to uphold currency integrity. In April 2025, popular Lagos socialite Emeka Okonkwo,

July 1, 2025

How Nigeria’s External Reserves Rose By 5.6% To $38.8bn In 2024 — CBN

Business

CBN Denies Extending BDC Recapitalisation Deadline, Insists On June 2025

The Central Bank of Nigeria (CBN) has debunked reports claiming it extended the deadline for Bureau De Change (BDC) operators to meet new capitalisation requirements. The apex bank insisted that the deadline remains 3 June 2025, as earlier communicated. Prime Business Africa

June 12, 2025

Business·Top Stories

CBN Fines Zenith Bank, Fidelity Bank, GTCO, Six Other Banks N16.98bn

The Central Bank of Nigeria (CBN) fined commercial banks N17.35 billion in 2024, with the penalty increasing by N16.98 billion compared to the N369,71 million the financial institutions paid in 2023. According to Prime Business Africa’s findings, CBN fined nine banks, out

June 9, 2025

Business·Top Stories

CBN, SEC Fine Access Holdings N1.2bn For Contravening Anti-Money Laundering, Trading Regulations

Access Holdings was fined N1.20 billion by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) in 2024, more than the N38 million penalty paid in 2023. According to the company’s consolidated and separate financial statements for the

June 6, 2025

Business

CBN Insists On June 3 Recapitalisation Deadline For BDCs

Last-minute efforts by the Bureau De Change (BDC) operators to seek further extension of the deadline for recapitalisation appear to have failed as the Central Bank of Nigeria (CBN) insisted that June 3 remains sacrosanct. The Association of Bureau De Change Operators

June 3, 2025

Business

CBN’s NRBVN: A Game-changer In Diaspora Remittances, Financial Inclusion – Cardoso

Central Bank of Nigeria (CBN) Governor, Dr Olayemi Cardoso, has said the Non-Resident Bank Verification Number (NRBVN) platform launched recently is a game-changer in facilitating the inclusion of Nigerians abroad into the country’s financial system and boosting diaspora remittances. In a statement

June 3, 2025

Business·Finance & Economy

Currency In Circulation Hits N5.01trn As 91.2% Of Cash Remains Outside Banks

Currency in circulation (CIC) in Nigeria rose marginally by 0.24 per cent from N5.003 trillion in March to N5.015 trillion in April 2025. The increase reflects a continued build-up of liquidity in the economy despite monetary tightening efforts by the Central Bank

June 2, 2025

Business·Top Stories

CBN retains interest rate at 27.5%

The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR) at 27.50 percent. Olayemi Cardoso, the governor of the CBN, announced the MPC’s decision at a press conference on Tuesday after the panel’s 300th

May 20, 2025

Business

Don’t Raise Interest Rate Beyond 27.5% – Lawmakers Warn CBN

As the Central Bank of Nigeria (CBN) plans to hold its 300th Monetary Policy Committee (MPC) meeting next week, lawmakers have warned against raising the benchmark interest rate beyond the current 27.5 per cent in a bid to bring down inflation. The

May 16, 2025

Finance & Economy·Opinion

CBN And The $1 Trillion Economy

The Central Bank of Nigeria (CBN) has keyed into the $1 trillion economy envisioned by President Bola Ahmed Tinubu by 2030. And the global management consulting firm, McKinsey and Co. is sanguine about the economy. McKinsey had projected that the economy would

May 15, 2025

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CBN - Page 2

Naira Cash-spraying Crackdown: Cultural Policing or Economic Necessity?

CBN Denies Extending BDC Recapitalisation Deadline, Insists On June 2025

CBN Fines Zenith Bank, Fidelity Bank, GTCO, Six Other Banks N16.98bn

CBN, SEC Fine Access Holdings N1.2bn For Contravening Anti-Money Laundering, Trading Regulations

CBN Insists On June 3 Recapitalisation Deadline For BDCs

CBN’s NRBVN: A Game-changer In Diaspora Remittances, Financial Inclusion – Cardoso

Currency In Circulation Hits N5.01trn As 91.2% Of Cash Remains Outside Banks

CBN retains interest rate at 27.5%

Don’t Raise Interest Rate Beyond 27.5% – Lawmakers Warn CBN

CBN And The $1 Trillion Economy

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