30 results
- 18 Jul 2023
CBN, Egyptian Central Bank Ink MoU on 'Nigeria-Egypt FinTech Bridge'
Central Bank of Nigeria (CBN) and the Central Bank of Egypt (CBE), on Monday signed a Memorandum of Understanding (MOU) to establish a Nigeria-Egypt FinTech Bridge. The signing ceremony, took place…
- 2 Dec 2024
Central Bank of Nigeria Plans Major Workforce Reduction by December 31
Central Bank of Nigeria (CBN) may retire about 1,000 of its employees by December 31, 2024. According to a report by Daily Trust, the exercise will cost the apex bank N50 billion. The move comes as,…
- 19 Feb 2020
CBN Releases List of Authorised Banks in Nigeria
Central Bank of Nigeria (CBN) has released the list of deposit money banks and financial holding companies operating in Nigeria, meaning that anybody who transacts banking business outside the list…
- 15 Jun 2021
The World Bank Blames CBN for Nigeria’s Forex Crisis
The World Bank has blamed the Central Bank of Nigeria’s (CBN) management of the foreign exchange regime as the reason for the FX crisis currently being experienced in the country. The World Bank made…
- 22 Mar 2026
CBN Wins Central Bank of the Year Title @13th Global Awards
Central Bank of Nigeria (CBN) has been named Central Bank of the Year 2026 by an awards committee in London. The award recognises the bank’s major reforms that helped stabilise Nigeria’s economy and…
- 9 Mar 2023
CBN Approves Guidelines for Open Banking in Nigeria
Central Bank of Nigeria (CBN) has approved operational guidelines for open banking in Nigeria. The guideline was released via a circular by Musa Jimoh, the Director of the CBN’s Payments System…
- 11 Apr 2022
MTN Nigeria Diversifies into Banking after CBN’s Final Approval for MoMo Bank
MTN Nigeria, has received final approval from Central Bank of Nigeria (CBN) to run a payment service bank, according to a regulatory filing by the operator on Monday. The approval gives the firm the…
- 13 Feb 2018
CBN Seeks Shell Banks Abolished In Nigeria
The Central Bank of Nigeria (CBN) has called for the abolition of shell banks in the country, saying they serve as institutions for money laundering. Shell banks are institutions that carry out…
- 21 Jul 2023
RightCard Secures IMTO License from Central Bank of Nigeria
RightCard Payment Services Limited, a Lemonade Technology Inc. subsidiary, has obtained an International Money Transfer Operator (IMTO) license from the Central Bank of Nigeria (CBN). This milestone…
- 31 Dec 2019
The World Bank Asks CBN to Stop Supporting Weak Banks
The World Bank has cautioned the Central Bank of Nigeria (CBN) to stop supporting undercapitalised banks in the country. According to a new report by the international financial institution, the…
- 13 Mar 2026
CBN Orders Banks to Restrict Access to Banking Services for Loan Defaulters
Central Bank of Nigeria (CBN) has asked commercial banks to restrict loan defaulters, specifically large-ticket obligors, from accessing credit facilities. A large ticket obligor is a borrower (an…
- 8 Jan 2024
CBN Debts Banks’ N576.20Bn via CRR
Central Bank of Nigeria (CBN) last week debited some commercial banks to the tune of N576.20 billion through the Cash Reserve Requirement (CRR). CRR is the minimum amount banks and merchant banks are…
- 28 Jan 2022
CBN Slashes Bank Charges
Central Bank of Nigeria (CBN) has announced a downward review of charges and rates on transactions across the banking ecosystem. This was contained in the CBN new ‘Guide to Charges by Banks Other…
- 5 Jul 2020
CBN Debits Banks N1.977.7trn to Tightens Liquidity
Central Bank of Nigeria (CBN) has debited close to N2 trillion from several banks in the last quarter in line with its Cash Reserve Ratio (CRR) compliance requirement, and this has left many banks…
- 10 Jun 2024
No Plan to Revoke More Operating Licenses of Banks- CBN
Central Bank of Nigeria (CBN) yesterday, reassured members of the banking public of the safety of their deposits and the banking system’s resilience. The apex bank was reacting to claims that…
- 7 Sept 2009
CBN Moves to Save Ailing Banks
Governor of Central Bank of Nigeria, CBN, Mallam Sanusi Lamido Sanusi, Governor of Central Bank of Nigeria, CBN has said that the apex bank would have no option than to print more naira to save more…
- 13 Apr 2021
CBN Asks Banks to Get on Its Central Credit Management Platform
Central Bank of Nigeria (CBN) has mandated all development finance institutions (DFIs), microfinance banks (MFBs), primary mortgage banks (PMBs) and finance companies (FCs) operating in the country…
- 1 Oct 2019
CBN, Banks to Develop Creative Industry Parks across Nigeria
Central Bank of Nigeria (CBN) is to develop creative industries parks across three major cities, with Lagos as the pilot scheme, according to Mr. Godwin Emeifele, governor of the apex bank. …
- 23 Mar 2023
Reps Ask CBN to Order Banks to Revamp e-Banking Platforms
House of Representatives has urged the Central Bank of Nigeria (CBN) to direct banks to immediately revamp their electronic transaction platforms. According to the House, the move has become…
- 3 May 2017
CBN Expels 16 Banks from Forex Market
Central Bank of Nigeria (CBN) on Tuesday stopped 16 Deposit Money Banks from participating in the Small and Medium-scale Enterprises (SMEs)window of the foreign exchange market. Isaac Okorafor,…
- 23 Oct 2020
Beware of Rising Fraud, Terrorism Financing- CBN to Banks
Central Bank of Nigeria (CBN) has told banks and other financial institutions to be on the look out for increased cybercrimes and well as money laundering and terrorism financing (ML/TF) in the wake…
- 15 Jun 2016
Providus Bank Gets Commercial Banking Licence from CBN
Providus Bank Plc has been granted a commercial banking licence with regional authorisation by the Central Bank of Nigeria (CBN), according to information on the apex bank’s website on Tuesday.…
- 19 Dec 2021
CBN Warns Banks against Excess Charges, Illegal Debits
Central Bank of Nigeria (CBN) has warned banks in Nigeria to desist from multiple and indiscriminate charges and debits on customers’ accounts. The apex bank also asked affected customers to apply…
- 9 May 2024
CBN Unveils List of Licensed Deposit Money Banks
Central Bank of Nigeria (CBN) has released the list of licenced Deposit Money Banks operating in the country. Providing insights into the banking landscape in Nigeria, the list was made public on the…
- 5 May 2022
Benin Republic Accounts are Risky, CBN Tells Banks
Central Bank of Nigeria (CBN) has warned banks and other financial institutions in the country to be vigilant as regards transactions involving Benin Republic. Godwin Emefiele, CBN governor CBN…
- 8 Sept 2010
Check ATM Fraud or Pay, CBN Tells Banks
Central Bank of Nigeria (CBN) has asked deposit money banks (DMBs) otherwise known as commercial banks in the country to check the rising incidences of fraud in the electronic payment system or…
- 25 Jan 2010
CBN Fixes Tenure for Bank CEOs
The Central Bank of Nigeria (CBN) has announced a 10-year maximum tenure for Managing Directors and Chief Executive Officers of banks in Nigeria. Samuel Oni, CBN Director on Banking Supervision said…
- 8 Feb 2016
Bank Customers Battle CBN, Banks over Current Account Fee
Bank customers under the umbrella of Bank Customers Association of Nigeria (BCAN), have kicked against the introduction of Current Account Maintenance fee by the Central Bank of Nigeria (CBN) saying…
- 15 Feb 2026
Nigeria's Banks Race to Meet CBN Recapitalisation Deadline Amid Verification Push
Nigeria’s banking sector is in the final stretch of its recapitalisation drive, with lenders intensifying capital actions ahead of the Central Bank of Nigeria’s (CBN) March 31 deadline. Proshare…
- 3 Apr 2026
CBN, Banks, Fintechs Launch PSPC to Boost Nigeria's Payment System
Central Bank of Nigeria (CBN), alongside commercial banks and fintech operators, has unveiled the Payments Service Providers Committee (PSPC) to tackle gaps in the country's payment infrastructure.…