10 results
- 14 Oct 2024
CBN Asks Banks to Invest More in Cybersecurity to Safeguard Depositors
Central Bank of Nigeria (CBN) has urged banks in the country to make significant investments in cybersecurity to safeguard depositors’ savings from hackers. Dr. Adetona Adedeji, acting director of…
- 9 Apr 2024
CBN Stops Foreign Currency as Collateral for Naira Loans
Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for naira loans. This was contained in a circular dated April 8, 2024 and directed to all banks by Adetona…
- 24 Sept 2025
CBN Warns against Abuse, Hoarding of Naira ahead of Yuletide
Central Bank of Nigeria (CBN) has launched a nationwide campaign against the abuse and hoarding of the Naira as the yuletide season approaches. The CBN also assured the public of sufficient cash in…
- 23 Nov 2020
Cashless Banking Attracts ePayment Risks- CBN
Central Bank of Nigeria (CBN) has said the implementation of the cashless policy had increased the risks associated with e-payments. Speaking at the First Bank of Nigeria Information Security webinar…
- 11 Dec 2023
CBN suspends Processing Fees on Large Cash Deposits
Central Bank of Nigeria, CBN, has suspended charges on cash deposits above the regulatory limits of N500,000 for individuals and N3,000,000 for corporate account holders. The new directive is coming…
- 15 Mar 2024
CBN Bars Banks from Profiting From Forex Revaluation
Central Bank of Nigeria (CBN) has re-emphasised that banks are barred from paying dividends to shareholders or spend on operating expenses from foreign currency revaluation gains but are expected to…
- 8 Nov 2024
CBN's New Directive: Banks to Trade Foreign Currency Deposits
Central Bank of Nigeria (CBN) has authorized banks to trade with foreign currency deposits made under its new amnesty initiative, the “Disclosure Scheme.” This directive, intended to boost…
- 18 Feb 2025
CBN Orders Bank Directors with Insider Bad Loans to Resign
Central Bank of Nigeria (CBN) has ordered bank directors with non-performing insider-related loans to step down immediately, as part of efforts to strengthen corporate governance and enhance risk…
- 17 Apr 2024
CBN Cuts Banks’ Loan-to-Deposit Ratio to 50 Percent
Central Bank of Nigeria (CBN) has issued a new directive to all Deposit Money Banks (DMBs) introducing a reduction in the loan-to-deposit ratio (LDR) to 50 per cent. So called LDR refers to the…
- 2 Feb 2024
CBN Halts Daily CRR Debits on Banks
Central Bank of Nigeria (CBN) on Friday announced the discontinuing of daily Cash Reserve Requirements (CRR) debits and introducing a revised mechanism. This was announced in a circular to all banks,…