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CBN

Feature

1,500 redeployed CBN staff to resume Lagos office Friday

Following their relocation from the Abuja headquarters, at least 1,500 Central Bank of Nigeria (CBN) employees will begin work at the Lagos branch on Friday, February 2. A source within the apex bank informed PUNCH that despite facing criticism, the…

Economy

CBN Injects Fresh $500m Into Forex Market

The Central Bank of Nigeria (CBN) has committed $500 million into the forex market. Hakama Sidi-Ali, Acting Director of the Corporate Communications Department at the CBN, disclosed this in a statement on Monday. Sidi-Ali reiterated the bank’s commitment to “settling…

Economy

CBN holds MPC meeting February 26

The Monetary Policy Committee of the Central Bank of Nigeria will hold its first policy meeting for the year on February 26th and 27th. This is according to a tentative MPC meeting calendar posted on the website of the apex…

Crime

Emefiele pleads not guilty to amended 20-count charge, trial adjourned to Feb

Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), has pleaded not guilty to the amended criminal charge filed against him by the federal government. BACKGROUND On Thursday, the federal government amended the criminal charge it filed against…

Economy

CBN Pays $2bn To Clear FX Backlog, To Sanction Defaulters

The Central Bank of Nigeria (CBN) says it paid approximately $2 billion across various sectors, including manufacturing, aviation, and petroleum in its bid to clear the backlog of outstanding foreign exchange liabilities. The apex bank said it has also cleared…

CBN disburses $61 million to settle foreign airlines’ trapped fund

The Central Bank of Nigeria said it has disbursed $61.64 million to foreign airlines through deposit money banks. According to a statement by its Acting Director, Corporate Communications, Hakama Sidi-Ali, in Abuja on Sunday, the disbursement is in fulfilment of…

Economy

Fresh Dust Over Union Bank’s Sale As CBN Investigator Summons Tunde Lemo

The Special Investigator appointed by President Bola Tinubu to probe the Central Bank of Nigeria (CBN) has summoned the Chairman of Titan Trust Bank (TTB), Tunde Lemo, and two other shareholders of the bank over the controversial acquisition of Union…

Emefiele Sues Investigator, Denies Opening 593 Foreign Accounts

A former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has described the report of the Special Investigator appointed by President Bola Tinubu, which indicted him, as satanic, baseless, defamatory and false. Emefiele, in a statement on Sunday,…

Economy

CBN lifts ban on cryptocurrency transactions

The Central Bank of Nigeria (CBN) has lifted the ban it imposed two years ago on cryptocurrency transactions in the Nigerian banking system. The CBN announced the reversal of the policy in a circular by Haruna Mustapha, its Director, Financial…

Economy

CBN Suspends New Request For Intervention Loans

The Central Bank of Nigeria (CBN) has announced the suspension of new loan applications under its intervention programme. The announcement was communicated in a circular entitled “Suspension of Acceptance of New Applications under the Existing Central Bank of Nigeria, CBN…