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Central Bank of Nigeria stops banks from taking charges on bulk transfers
03-10-2017 | 10:06:14
Commercial banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS).
Nigeria Central Bank retains lending rate at 14%
28-09-2017 | 12:43:31
The Central Bank of Nigeria (CBN) has left the country's benchmark interest rate unchanged at 14 per cent, alongside all the other monetary policy rates for the seventh consecutive time over fears of consequent inflation.
Central Bank of Nigeria reviews limits on mobile money transaction
18-09-2017 | 10:13:20
The Central Bank of Nigeria (CBN) has reviewed daily mobile money wallet transaction and balance limit, as well as the Bank Verification Number (BVN) requirement for mobile money wallet holders.
CBN moves to mitigate risk in USSD transactions
11-09-2017 | 10:12:10
The Central Bank of Nigeria (CBN) has unveiled to members of the public an exposure draft on the regulatory framework for banking platform.
CBN makes N3.3 billion from banks’ borrowing
25-05-2017 | 11:32:00
Through frequent borrowing from the Central Bank of Nigeria (CBN) by commercial banks, the regulator recorded N3.29 billion as interest income in February 2017.
Central Bank of Nigeria suspends implementation of cashless policy
24-04-2017 | 10:14:42
The Central Bank of Nigeria (CBN) has suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday, the apex bank instructed banks to revert to old charges and refund customers who had been debited.
CBN releases $100m into interbank market
20-04-2017 | 09:28:11
The Central Bank of Nigeria (CBN) yesterday carried out wholesale interventions in the interbank FOREX market by offering a total sum of $100m to authorized dealers to meet the 7 to 15-day forwards requests of customers.
Central Bank raises banks' FX loan limits to resolve breaches
14-04-2017 | 09:47:19
Nigeria's central bank has increased the limit on banks' foreign currency borrowings to 125 percent of shareholders' fund after some lenders breached its regulatory limit due to the recent fall in the naira, according to a circular seen by Reuters.
28.6 million bank users have BVN
13-04-2017 | 13:11:12
A total of 28,667,139 users of deposit money bank (DBM) accounts in the Nigerian banking system now have their Bank Verification Numbers (BVN) issued by the system.
CBN reintroduces charges on cash deposits, withdrawals
27-02-2017 | 09:44:00
The Central Bank of Nigeria on Thursday announced the reintroduction of bank charges on certain categories of cash deposits and withdrawals.