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Central Bank of Nigeria Expects to Spend N306bn on Workers Severance and Related Packages
The Central Bank of Nigeria (CBN) reported it spent N306.63 billion for employee-related expenses, including severance packages and workers’ allowances for employees who...
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Old Naira Notes Remain Legal Tender Beyond 2024 – CBN Debunks Rumors
The Central Bank of Nigeria (CBN) has dismissed rumors that old N200, N500, and N1,000 banknotes will cease to be legal tender by...
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Central Bank of Nigeria Raises Benchmark Interest Rate to 27.25%
The Central Bank of Nigeria’s Monetary Policy Committee has increased the monetary policy rate (MPR) to 27.25%, a 50 basis point hike from...
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Next-of-kin can now claim funds in dormant accounts – CBN
The Central Bank of Nigeria (CBN) has allowed next-of-kin, legal representatives, or beneficial owners to claim unclaimed balances in dormant accounts. The CBN...
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JUST IN: CBN increases interest rate to 26.75%
The Central Bank of Nigeria (CBN) has taken decisive action to combat soaring inflation, raising the benchmark lending rate to 26.75% at the...
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CBN directs banks to transfer unclaimed balances and funds in dormant accounts
The Central Bank of Nigeria (CBN) has mandated banks and other financial institutions to transfer unclaimed balances and funds from dormant accounts to...
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CBN revokes Heritage Bank’s licence
The Nigeria Deposit Insurance Corporation has been appointed as the liquidator of Heritage Bank, following the Banks and Other Financial Act 2020. This...
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JUST IN: CBN increases interest rate to 26.25 %
The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points, from 24.75% to 26.25% This decision was made...
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Court Upholds CBN Regulation, Directs Banks to Collect Customer Social Media Handles
The Federal High Court in Lagos has affirmed a new regulation by the Central Bank of Nigeria (CBN) requiring financial institutions to collect...
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