The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso said Nigeria has lost a total of $1.4bn in 8 years over CBN’s ban on 43 items. Cardoso disclosed this at the 58th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) on Friday in Lagos. According to him, the…
The Central Bank of Nigeria (CBN) says it is planning to implement a new round of banking recapitalisation for the Deposit Money Banks (DMBs). Mr Olayemi Cardoso, the CBN Governor, announced this at the 58th Annual Bankers’ Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) on Friday night in Lagos. The News…
The Nigeria’s premier and largest non-interest Islamic bank, “Jaiz Bank Plc” has appointed Mr. Haruna Musa as the substantive managing director. The appointment has been approved by the Central Bank of Nigeria (CBN). Musa, whose appointment took effect on November 21, 2023, succeeded Ahmed Hassan who will proceed on retirement at the end of this…
Central Bank of Nigeria, CBN, has increased the monetary policy rate, MPR, from 18.5 per cent to 18.75 per cent. The MPR which measures interest rate on concern of ballooning inflation rate which 22.79 per cent in June, according to data from the National Bireau of Statistics, NBS. Addressing journalists after the two-day Monetary Policy…
The Central Bank of Nigeria (CBN) has limited the daily cumulative and single contactless payments, made through bank accounts or digital wallets to ₦50,000 and ₦15,000, respectively. The higher-value contactless payments are transactions that exceed the above-stated limits and will require appropriate verification and authorisation. The transaction limit for contactless payments took effect on Tuesday,…
