CBN imposes 10% fine on banks linked to cash hawkers
The Central Bank of Nigeria (CBN) has announced stringent penalties for Deposit Money Banks (DMBs) found diverting cash to hawkers, ...
Tag: Deposit Money Banks
New Circular: Banks to deposit “excess forex” in Lagos, Abuja branches of CBN
The Central Bank of Nigeria (CBN) has introduced revised guidelines to allow Deposit Money Banks (DMBs) to deposit excess foreign ...
“Why I support higher interest rates in Nigeria” – Cardoso
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has emphasized the necessity of maintaining higher interest rates ...
CBN increases interest rate by 150 basis points to 26.25%
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points ...
Nigerian banks invest additional N1.55 trillion in Treasury Bills in one year
The treasury bills rate has witnessed a significant increase in recent times on the back of multiple MPR upward adjustments ...
NDIC denies sale of Polaris Bank to Babangida’s son-in-law, insists all Nigerian banks are safe
The reaction from NDIC follows recent media reports that Polaris Bank has been secretly sold to a new investor.
CBN says foreign currency deposit by banks reduced significantly in 2020
The Central Bank of Nigeria (CBN) stated that it recorded a significant reduction in foreign exchange deposits by Deposit Money ...
Difference between a Payment Service Banks (PSB) and Deposit Money Banks (DMBs)
The Central Bank of Nigeria issued an approval in principle to two of the nation’s largest telecommunication firms, MTN Nigeria ...
We have dollars – Nigerian banks tell customers
Deposit money banks in the country have moved to implement the directive from the Central Bank of Nigeria (CBN) to ...
CBN increases forex allocations to banks for SMEs, tuition fees, travellers
The CBN has announced an increase in the amount of foreign exchange allocated to banks to meet the requests of ...
