CBN Adds Sugar And Wheat To FX Ban

The Central Bank Of Nigeria (CBN) has announced plans to add sugar and wheat to its list of Foreign Exchange (FX) restrictions. The proposal was revealed by the apex bank in a statement attributed to CBN governor Godwin Emefiele, which was posted on its confirmed Twitter account. The tweet stated: “Sugar and Wheat to go […]

Official Exchange Rate Now Stands At ₦410/$1 – CBN Governor Reveals

Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN) has confirmed that exchange rate of naira to dollar has been adjusted to N410/$1 at the official market.   Addressing bankers at a summit on the economy in Lagos on Friday February 26, Governor Godwin Emefiele said the official exchange rate now stands at […]

We Banned Cryptocurrency For The Benefit Of Nigerians – CBN Governor Tells Senate

Details Of What CBN Governor Emefiele Told Senate About Crypto Ban In Nigeria Has Emerged.     Mr Emefiele made the declaration on Tuesday, February 23, 2021, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation.   […]

CBN Governor Honors NASS Invite Over Ban On Cryptocurrency

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has honored the invitation by the National Assembly over the ban placed on cryptocurrency. Emefiele arrived NASS on Tuesday to honor the summon by the Senate Joint Committee on Banking Insurance and other financial institutions, TheNewsGuru reports. Recall that CBN had on February 5 […]

CBN To Examine Products Launched By Licensed Financial Institutions

The Central Bank of Nigeria (CBN) has said it will examine the products and solutions being launched by licensed financial institutions. CBN made the announcement in a circular issued and signed by Musa Jimoh, the director of payments system management department, and Kevin Amugo, director of financial policy and regulation department to all deposit money banks, mobile money operators […]

Reno Omokri Ask Buhari To Return Public Funds Spent On Treatments In London

Nigerian author and lawyer, Reno Omokri has asked the President, Muhammadu Buhari to refund to the treasury, public funds used in treating him in London. Omokri also backed the President’s directive to the Central Bank of Nigeria (CBN) not to release any money for food importation. The President Buhari had warned that his administration would […]

CBN Plead Court Not To Unfreeze EndSARS Campaigners’ Account

The Central Bank of Nigeria (CBN) has pleaded with the court not to unfreeze the accounts of #EndSARS campaigners as they are still under investigation for financing terrorism. The bank’s plead to Justice Ahmed Mohammed of the Federal High Court in Abuja was contained in a counter-affidavit in opposition to the motion filed by Gatefield Nigeria Limited, […]

CBN Directs Nigerian Banks To Charge Customers Over Failed Transactions

Nigeria’s Apex bank, Central Bank of Nigeria (CBN) has directed Nigerian banks to charge customers for failed transactions. The charges are to be imposed following a directive given earlier this year by CBN, stating that banks should penalize customers who initiate direct debit transactions on their account but lack funds to complete the transaction. In […]