30 results
- 27 Jan 2025
CBN Waives 2025 Licence Renewal Fee for Bureaux de Change Operators
Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all bureaux de change (BDC) operators. Jonah Onojah, director of the financial policy and regulation department, announced…
- 14 Jan 2024
Worries as CBN Begins Abuja Office Decongestion Affecting 1,533 Staff
There is a growing concern among workers as the Central Bank of Nigeria (CBN), commenced the decongestion of its head office in Abuja, affecting 1,533 staff. According to an internal memo, the…
- 3 Feb 2017
AfDB , AFI Sign MoU to Enhance Financial Services
African Development Bank (AfDB) and the Alliance for Financial Inclusion (AFI) signed a Memorandum of Understanding (MoU) to enhance access to quality financial services on the continent. The…
- 22 Mar 2010
CBN Moves to Check ATM Fraud
Sanusi Lamido Sanusi, governor of the Central Bank of Nigeria (CBN) has expressed deep concern about Automated Teller Machines (ATMs) fraud becoming a major issue in the Nigerian banking industry.…
- 4 Dec 2025
CBN Scraps Cash Deposit Limits, Raises Weekly Withdrawal Threshold
Central Bank of Nigeria (CBN) has removed the limit on cash deposits and raised the weekly cash withdrawal limit across all channels to N500,000, up from N100,000. CBN The apex bank disclosed this in…
- 2 Jan 2024
CBN Bars Crypto Bank Account Operators from Cash Withdrawal
Central of Nigeria (CBN) has said that cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions According to the apex bank, withdrawals from these…
- 11 Jul 2013
CBN Raises Alarm over N166Bn Dud Cheques
Central Bank of Nigeria (CBN) has raised alarm over the growing incidences of dud cheques and said it will collaborate with commercial banks and law enforcement agencies, to investigate and prosecute…
- 20 Oct 2020
CBN Orders Banks to Stem COVID-19 Financial Crimes
Central Bank of Nigeria (CBN) has advised all banks to update alert protocols in their Anti-Money Laundering/Combating the Financing of Terrorism monitoring tools, in line with the red flags and…
- 27 Apr 2018
CBN to Punish Banks, Directors for Money Laundering Offences
Central Bank of Nigeria (CBN) has reeled out new regime of sanctions which includes punishments for banks, their directors as well as huge fines against financial institutions found culpable of any…
- 18 Feb 2025
CBN Orders Banks to Publish Details of Dormant Accounts, Unclaimed Balances
Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to publish the name of the account, the type of account, the name of the bank, and the branch where the…
- 1 Dec 2023
CBN to Freeze Accounts without BVN, NIN April 2024
The Central Bank of Nigeria has directed a “Post no Debit” restriction on all bank accounts without a Bank Verification Number and National Identification Number effective April 2024. “Post No Debit”…
- 12 May 2026
CBN Warns Non-Interest Banks against Governance, Compliance Risks
Central Bank of Nigeria (CBN) has warned non-interest financial institutions against governance and compliance risks capable of undermining public confidence and financial stability in the country’s…
- 17 Dec 2023
Bank Audit Leaders Urge CBN to Strengthen Fintech Regulations
The Association of Chief Audit Executives of Banks in Nigeria has called for stricter regulations of the fintech space as well as the operations of the Bureaux de Change. The association also hailed…
- 9 May 2023
CBN to Sanction Banks Harbouring Unlicensed Firms
Central Bank of Nigeria (CBN) has warned banks against harbouring and backing unlicensed foreign firms. CBN said the directive titled “Guidelines for the Regulation of Representative Offices of…
- 18 Jan 2017
CBN Bars Banks from Bitcoins, Other Virtual Currencies
Central Bank of Nigeria (CBN), yesterday, banned banks from any transactions in virtual currencies, saying that the move was necessitated by money laundering and terrorism financing risks inherent in…
- 25 May 2022
CBN Intensifies War against Money Laundering
.Central Bank of Nigeria (CBN) has developed guidance note on anti-money laundering/combating the financing of terrorism (AML/CFT) for other financial institutions (OFIs), in a bid to protect the…
- 29 Nov 2020
Competence Test: CBN Begins Screening of all Banks’ Workers
Central Bank of Nigeria (CBN) has written to all banks and other financial institutions to furnish it with details of their staff competence levels. According to a letter dated November 26, 2020,…
- 10 Aug 2021
CBN Releases Guidelines for Regulation and Supervision of CGCs in Nigeria
Central Bank of Nigeria (CBN) on Tuesday, released guidelines for registration and supervision of Credit Guarantee Companies (CGCs) in Nigeria. Mr. Godwin Emefiele, CBN governor The guidelines are…
- 13 Apr 2023
Unclaimed monies in dormant accounts to be invested in T-Bills – CBN
Central Bank of Nigeria (CBN) says it will mop up all dormant account balances and unclaimed balances in banks into a Trust Fund account which will ultimately be invested in Treasury Bills. This is…
- 1 Oct 2019
CBN Orders Bank to Monitor Individuals, Firms under UN Sanctions
Central Bank of Nigeria (CBN), has called on banks and Other Financial Institutions (OFIs) to report suspicious transactions of entities or individuals in the global sanction lists of the United…
- 5 Dec 2025
CBN’s New Cash Policy: A Welcome Liberalisation or a Risky Retreat?
By Blaise Udunze On December 2, 2025, the Central Bank of Nigeria (CBN) announced a policy that significantly departs from the cash-restriction measures Nigerians have faced lately. The apex bank…
- 9 May 2023
CBN Allows Foreign Banks to Give Loans in Dollar
Central Bank of Nigeria on Monday authorized foreign banks in the country to work with their parent companies in availing and syndicating foreign currency-denominated loans (dollar loans) to Nigerian…
- 24 Apr 2026
Bank Customers to Pay N1,500 for ATM Card Issuance, Replacement - CBN
Central Bank of Nigeria (CBN) has said that the cost of issuing or replacing a standard debit or credit card will rise by 50 percent to about N1,500, up from about N1,000. The new charge is contained…
- 20 May 2024
CBN Finally Makes U-turn, Withdraws Circular on Cybersecurity Levy
Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing financial institutions to implement the national 0.5 per cent cyber security levy after the policy was largely resisted. The…
- 16 Mar 2026
CBN Relaxes Dormant Account Rules with Removal of Affidavit Requirement
The Central Bank of Nigeria (CBN) has removed the requirement for customers to present affidavits when reactivating dormant bank accounts, a move aimed at simplifying the process of reclaiming…
- 14 Jun 2026
CBN to Bar HoldCos from Influencing Banks’ Lending Decisions
Central Bank of Nigeria (CBN) has proposed a sweeping overhaul of the regulatory framework for Financial Holding Companies (HoldCos), including measures to strengthen the operational independence of…
- 24 Oct 2018
CBN Hikes Capital Requirements for Microfinance Banks
Central Bank of Nigeria (CBN) has increased the capital requirements for microfinance banks in the country in a bid to tackle the challenge of inadequate capital base in the sub-sector. The…
- 15 Apr 2025
CBN Grants Final Approval to Ascensia to Operate as Finance Company
Central Bank of Nigeria (CBN) approved the application of Ascensia Finance Company Limited to operate as a finance company in the country. The apex ban however warned Ascensia it could revoke her…
- 23 Nov 2021
eNaira: CBN Rallies PSPs, Fintechs to Deepen Adoption
The Central Bank of Nigeria (CBN) yesterday said it was working with key stakeholders in the payment system ecosystem to boost the adoption of its digital currency known as the eNaira. The…
- 17 May 2017
CBN Caps Transaction Alert Fees to N4 per SMS
Central Bank of Nigeria (CBN) has capped the fees charged by the banks on transaction alerts to N4 per SMS. The apex bank also restricted alerts to customer-induced transactions only. The CBN…