CBN Archives - Page 3 of 3

FLASH: No Deadline For Circulation of Old Naira Notes – CBN Debunks Report

GISTSMATE 015 months ago03 mins

The central Bank of Nigeria on Thursday, October 24, debunked reports that the old naira notes of N200, N500 and N1,000 would cease to be a legal tender by December 31, 2024. Recall that there were reports that the apex bank had announced a deadline for the withdrawal of the old notes. However, a statement…

JUST-IN: CBN Introduces Electronic System To Boost Transparency In Forex Market

GISTSMATE 016 months ago05 mins

The Central Bank of Nigeria has announced the introduction of an Electronic Foreign Exchange Matching System aimed at transforming the country’s foreign exchange market. This new system is set to be operational in the Nigerian Foreign Exchange Market by 1 December 2024, following a two-week test run scheduled for November. The EFEMS is expected to…

JUST-IN: CBN Jacks Up Interest Rate To 27.25%

GISTSMATE 016 months ago03 mins

The Central Bank of Nigeria (CBN) has announced a 50 basis point increase in the Monetary Policy Rate (MPR), bringing it from 26.75% to 27.25%. This decision was made during the Monetary Policy Committee (MPC) meeting held earlier on Tuesday and chaired by the CBN Governor, Olayemi Cardoso, as part of efforts to address…

BREAKING: CBN To Maintain Controversial Cybercrime levy Amid Economic Hardship

GISTSMATE 016 months ago03 mins

The Central Bank of Nigeria (CBN) has confirmed it will continue enforcing the contentious cybercrime levy of 0.005% on all electronic transactions as part of its updated guidelines for the 2024-2025 fiscal year. The cybercrime levy, introduced under the Cybercrime (Prohibition, Prevention, etc.) Act of 2015, aims to bolster Nigeria’s cyber security infrastructure. The Act…

JUST-IN: Presidency Reacts To Reports Of CBN Governor, Yemi Cardoso’s Resignation

GISTSMATE 016 months ago6 months ago02 mins

The presidency has dismissed a viral report claiming that President Bola Tinubu asked Central Bank of Nigeria (CBN) Governor Yemi Cardoso to resign. An online business publication had alleged that the President requested Cardoso’s resignation due to his failure to revive the economy and stabilize the naira, a year after assuming the role. The report…

CBN To Expand eNaira For Government Payments, MDAs Transactions

GISTSMATE 016 months ago07 mins

The Central Bank of Nigeria (CBN) plans to expand the use of its digital currency, eNaira, to facilitate payments into government accounts and allow Ministries, Departments, and Agencies (MDAs) to initiate vendor and beneficiary payments. This is according to the CBN’s newly released Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for Fiscal Years 2024-2025…

BREAKING: CBN Defies National Assembly, Maintains 5% Ways And Means Advance Limit

GISTSMATE 016 months ago05 mins

The Central Bank of Nigeria (CBN) has confirmed that it will sustain its Ways and Means Advances to the federal government at a 5 per cent limit for the fiscal years 2024-2025. The latest development is contrary to a bill passed by the National Assembly which raised the maximum borrowing percentage in the Act from…

Amid Hardship, CBN Governor, Deputies Get N10bn Bulletproof SUVs

GISTSMATE 017 months ago05 mins

As the nation groans under hunger, hardship and inflation, the governor of the Central Bank, CBN, Yemi Cardoso, and his four deputies are lavishing in abundance, purchasing ulta-modern armored vehicles and smiling home with jumbo allowances. The CBN governor and his deputies were nominated and confirmed by the Senate in September 2023. DAILY NIGERIAN gathered…

FLASH: 26 Banks Qualify In CBN’s $876 Million FX Auction

GISTSMATE 018 months ago04 mins

To enhance liquidity in the foreign exchange market, the Central Bank of Nigeria, CBN, said it has successfully conducted a Retail Dutch Auction System (rDAS) sale, resulting in the approval of bids valued at $876.26 million from 26 authorised dealer banks. According to a statement by the Director of the Financial Markets Department at the…

JUST-IN: CBN Approves Merger Of Unity, Providus Banks

GISTSMATE 018 months ago03 mins

GISTSMATE MEDIA reports that the Central Bank of Nigeria, CBN on Tuesday announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and the Providus Bank Limited. The apex bank, in a statement by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the move is designed to…

Stop Insulting Leaders While Telling Them Your Problems – Sultan Cautions Nigerians

World Bank Approves Fresh $500 Million Loan To Nigeria For Economic Stimulus Program

Eid-l-Fitri: Prof. Ogundiran Fetes With Muslim Ummah, Prays For Divine Blessings

‘Testament Of Your Hardwork’, Prof Ogundiran Congratulates Oyo APC Chairman, Abass On Federal Appointment

VIDEO: How President Tinubu Threatened To Sack Wike As minister

My Wealthy Uncle Did Not Have N10,000 Cash During Naira Scarcity – Tinubu

CBN

FLASH: No Deadline For Circulation of Old Naira Notes – CBN Debunks Report

JUST-IN: CBN Introduces Electronic System To Boost Transparency In Forex Market

JUST-IN: CBN Jacks Up Interest Rate To 27.25%

BREAKING: CBN To Maintain Controversial Cybercrime levy Amid Economic Hardship

JUST-IN: Presidency Reacts To Reports Of CBN Governor, Yemi Cardoso’s Resignation

CBN To Expand eNaira For Government Payments, MDAs Transactions

BREAKING: CBN Defies National Assembly, Maintains 5% Ways And Means Advance Limit

Amid Hardship, CBN Governor, Deputies Get N10bn Bulletproof SUVs

FLASH: 26 Banks Qualify In CBN’s $876 Million FX Auction

JUST-IN: CBN Approves Merger Of Unity, Providus Banks