CBN Increases Interest Rate To 26.75% Amid Rising Inflation, Hardship
The Central Bank of Nigeria, CBN, has increased the country’s Monetary Policy Rate (MPR), which is also known as interest rate from 26.25% to 26.75% The Monetary Policy Rate measures interest rates by 50 basis points. The apex bank announced…
CBN announces fresh guidelines on dormant accounts, unclaimed balances in Nigerian banks
The Central Bank of Nigeria, CBN, has directed all banks and other financial institutions in the country to transfer all dormant accounts and unclaimed balances and other financial assets to its dedicated account. The apex bank disclosed this on Friday…
Dangote Faults CBN’s 26% Interest Rate
Chairman and Chief Executive of the Dangote Group, Aliko Dangote, has criticised the latest increment of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). While addressing the audience during the opening session of a…
SERAP gives CBN 7 days to ‘account for missing N100bn dirty notes, other public funds’
Socio-Economic Rights and Accountability Project (SERAP) has urged Mr. Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), “to account for and explain the whereabouts of the over N100 billion ‘dirty and bad notes’ and ‘other large sum of…
CBN to implement more policies to tackle cybersecurity challenges
The Central Bank of Nigeria (CBN) says it will continue to implement more policies to tackle cybersecurity challenges and foster innovation to ensure the stability and integrity of the financial system. The deputy governor of financial systems stability at CBN,…
Afenifere urges FG to return Heritage Bank’s licence
The Ondo State branch of the pan-Yoruba socio-political organisation, Afenifere has expressed displeasure over the current state of the Heritage Bank Plc. The Central Bank of Nigeria revoked the operating licence of the bank earlier in June 2024. In a…
Court Orders Final Forfeiture Of N12billion Choice Properties Linked To CBN Ex-Governor, Godwin Emefiele
The Federal High Court sitting in Lagos State on Friday permanently forfeited to the Nigerian government properties valued at over N11billion and N1.04billion linked to the embattled former Central Bank of Nigeria (CBN) governor, Godwin Emefiele. Justice Chukwujekwu Aneke made…
Reps ask CBN to probe Heritage Bank management
The House of Representatives, on Tuesday, waded into the crisis rocking Heritage Bank Plc, which prompted the Central Bank of Nigeria to withdraw the bank’s operating licence recently. The apex bank had on June 3, 2024, in a statement signed…
JUST IN: CBN denies revocation rumours for Fidelity, Polaris, Wema, Unity Banks
The Central Bank of Nigeria (CBN) has refuted allegations that it is contemplating the revocation of operating licences for Fidelity, Polaris, Wema, and Unity Banks. This clarification came amidst concerns about the stability of some Nigerian banks following the licence…
CBN Denies Plans to Revocate Licenses of Unity Bank, Polaris Bank, and Keystone Bank
The Central Bank of Nigeria (CBN) has denied reports that it plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank. In a post on its social media handles, the CBN stated that the claims are “fake…