MONEY MARKET

The Central Bank of Nigeria (CBN) has lifted the ban on cryptocurrency transactions in the country. This is contained in a circular titled ‘Circular to all Banks and other Financial Institutions Guidelines on Operations of Bank Accounts for Virtual Assets Service Providers (VASPS)’ and dated December 22, 2023, with reference...

Amidst complaints about scarcity of Naira notes, the Central Bank of Nigeria (CBN) says there is adequate supply of the currency. The CBN gave the assurance against the backdrop of complaints by some bank customers on scarcity of Naira notes at the counters, Automated Teller Machines (ATMs) Points of Sale...

The Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, has approved the reviewed “Service Charter’’ of the apex bank. The service charter is a requirement of the Business Facilitation Act 2022 for driving the ease of doing business in Nigeria. It compels the CBN to fully comply with the directives...

  The Central Bank of Nigeria (CBN) on Wednesday directed banks to continue issuing and accepting all denominations of Nigerian old and redesigned banknotes. The apex bank also directed its branches to accept the notes from deposit money banks (DMBs). This is in response to the Supreme Court’s decision on...

  The Central Bank of Nigeria (CBN) has mandated banks in the country to begin automatic debit of chronic debtors in the country. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, revealed that over N10 trillion has been loaned to customers under various intervention schemes. According to...

  The Central Bank of Nigeria (CBN) has extended the validity of the old N200, N500 and N1,000 notes indefinitely . The apex bank’s Director, Corporate Communications, Isa AbdulMumin in a statement titled, “CBN To Allow Old Design Naira Banknotes As Legal Tender, Ad Infinitum” on Tuesday, said the decision...

  The Nigeria Deposit Insurance Corporation (NDIC) has addressed the recent news reports which it said is misleading circulating on various social media platforms under the headline "CBN Liquidates 20 Banks – NDIC (Names)." Contrary to the misleading headline, we would like to clarify that the 20 banks mentioned in...

  The Central bank of Nigeria (CBN) says it has sufficient stock of Naira notes allaying fears of some Nigerians on scarcity of Naira notes in circulation. The CBN in a statement signed by Dr. Isa AbdulMumin, Director, Corporate communication CBN, said “The attention of the Central Bank of Nigeria...

    The Central Bank of Nigeria (CBN) has said there is no plans for the redenomination of the Naira, set to take effect from January 2023. The response from the CBN comes in light of an assertion implying its intention to redenominate the nation’s official currency. In a statement...

MTN Nigeria has raised N125 billion via series 6&7 commercial paper notes to diversify its financing options. This was disclosed via an official statement signed by Company Secretary, Uto Ukpanah and sent  to Nigeria Exchange Limited. According to the statement, the issuance of commercial paper notes is in line with...