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3 New Articles
  • 2 days ago Tinubu summons emergency FEC meeting, orders full state honours over Buhari’s death
  • 2 days ago Okpebholo launches special squad to tackle kidnapping, cultism
  • 2 days ago Bread sellers, sachet water factories supplying kidnappers in Kogi – Commissioner
Home Tag Archives: CBN

Tag Archives: CBN

Banking & Finance

CBN warns of looming inflation as input costs increase

By Breezynews
7 days ago
in :  Banking & Finance
0
62

The Central Bank of Nigeria (CBN) has warned that rising input costs across key sectors could spark a new wave of consumer price inflation, as businesses continue to absorb cost pressures that may soon become unsustainable. This was disclosed in the June 2025 Purchasing Managers’ Index (PMI) report released by the apex bank. According to the report, the input price …

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Judiciary

Osun Assembly threatens legal action against AGF, CBN over alleged diversion of LG funds

By Breezynews
4 weeks ago
in :  Judiciary
0
24

The Osun State House of Assembly, yesterday, threatened litigation against the Accountant-General of the Federation (AGF) and the Central Bank of Nigeria (CBN), if local government allocations are paid into unauthorised accounts. This came as the lawmaker representing Obokun/Oriade Federal Constituency in Osun State, Mr Wole Oke urged Governor Ademola Adeleke to stop blackmailing President Bola Tinubu over the ongoing …

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Banking & Finance

CBN retains 27.50% interest rate

By Breezynews
20 May 2025
in :  Banking & Finance
0
13

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate at 27.50 per cent, marking its second consecutive hold in 2025. This decision was announced by the CBN Governor, Olayemi Cardoso, during a press briefing on Tuesday in Abuja, following the conclusion of the MPC’s 300th meeting. This second pause in rates …

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Banking & Finance

CBN unveils BVN platform for Nigerians abroad, eyes $1b monthly remittance

By Breezynews
14 May 2025
in :  Banking & Finance
0
215

The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), officially inaugurated the Non-Resident Bank Verification Number (NRBVN) platform on Tuesday in Abuja. According to the apex bank, this innovative digital gateway allows Nigerians in the diaspora to obtain a Bank Verification Number (BVN) remotely without needing a physical presence in Nigeria. The CBN governor, …

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Banking & Finance

CBN starts ‘mystery shopping’ to monitor BDCs’ compliance with anti-money laundering rules

By Breezynews
17 April 2025
in :  Banking & Finance
0
9

The Central Bank of Nigeria (CBN) says it will begin mystery shopping exercises across bureau de change (BDC) outlets to strengthen compliance with anti-money laundering and counter-terrorism financing regulations. The CBN spoke in a circular to all licensed BDC operators, signed by Amonia Opusunju, director of compliance department, on Thursday. Mystery Shopping is a technique used by companies to evaluate …

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Banking & Finance

We paid N1.2b fine for CBN, SEC laws violation in 2024 – Access Holdings

By Breezynews
16 April 2025
in :  Banking & Finance
0
17

Access Holdings said it paid N1.243 billion in penalties to regulatory authorities in 2024 for various infractions. The regulators include the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC), Access Bank said in its audited full-year 2024 financial statement. According to the document, published on the Nigerian Exchange Group (NGX) on Tuesday, the penalties were related to …

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Banking & Finance

We need strong, resilient banks to achieve $1t economy, says CBN

By Breezynews
15 April 2025
in :  Banking & Finance
0
12

The Central Bank of Nigeria (CBN) has said that Nigeria would need strong, resilient and stable banks in its quest to achieve the $1 trillion economy target set by President Bola Tinubu against 2030 timeline. In an address at the 36th CBN Seminar for Finance Correspondents and Business Editors, in Abuja, yesterday, the Deputy Governor, Corporate Services of the bank, …

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Opinion

And the next INEC chairman is…

By Bola Bolawole
9 April 2025
in :  Opinion
0
8

Two dangerous rumours grew wings and spread like wildfire in the harmattan haze last week, but thank goodness the Presidency moved swiftly to shoot them down. The first rumour was that the government had given the Central Bank of Nigeria (CBN) the nod to introduce N5,000 and N10,000 denominations in addition to the existing denominations, the highest of which is …

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Banking & Finance

Naira shed 2.6% in March despite $668m CBN intervention – Report

By Breezynews
8 April 2025
in :  Banking & Finance
0
11

The naira depreciated by 2.4 per cent and 2.6 per cent in March at both the Nigerian Autonomous Foreign Exchange Market window and the parallel market compared to the previous month. According to the latest Afrinvest Monthly Market Report titled ‘Analysing Global and Nigerian Economies & Financial Markets’, the naira dropped to N1,536.82/$ and N1,530.00/1.00 at the NAFEM window and …

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Banking & Finance

CBN injects $197.71m to stabilise FX market

By Breezynews
6 April 2025
in :  Banking & Finance
0
9

The Central Bank of Nigeria (CBN) injected $197.71 million into the foreign exchange market last Friday, as part of its commitment to ensuring adequate liquidity and maintaining orderly market functioning. This was disclosed in a statement on Saturday by the Director of the Financial Markets Department, Dr Omolara Omotunde-Duke, reiterating the bank’s stance on maintaining market integrity and operational transparency. …

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