CBN sets October 31 deadline for Payment companies to comply with ISO 20022
The Central Bank of Nigeria (CBN) has issued a fresh directive mandating all participants in the country’s payment ecosystem to ...
Tag: Deposit Money Banks
Nigeria incurs N315 billion in currency management cost
The Central Bank of Nigeria (CBN) reported a sharp rise in currency management costs in 2024, with expenses increasing by ...
Naira weakens further, closes the week at N1,544.50/$1 on official market, hits N1,647/$1 in parallel market
The naira experienced sustained pressure across foreign exchange markets this week, closing at N1,544.50/$1 on the official market and trading ...
CBN imposes N150 million fine on banks for illicit mint naira transactions
The Central Bank of Nigeria (CBN) has taken a firm stance against the illegal flow of freshly minted naira notes ...
End PoS operators’ exploitation of Nigerians, Shettima tells banks
The Vice-President, Sen. Kashim Shettima has urged Nigerian Deposit Money Banks (DMBs) to tackle the issue of exploitation of Nigerians ...
CBN tells Nigerians to report cash withdrawal issues from December 1, banks to face penalties
The Central Bank of Nigeria (CBN) urges bank customers to report ATM and branch cash withdrawal difficulties starting December 1, ...
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, ...
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 ...
