CBN Archives — Page 4 of 20 — City Business News

January 20, 2024 No Responses

CBN To Hold First MPC Meeting Under Cardoso

The Central Bank of Nigeria (CBN) is to hold its first Monetary Policy Committee meeting under the tenure of Mr. Olayemi Cardoso as Governor on Monday, February 26 and Tuesday, February 27, 2024. The announcement follows a two-day strategic session...

January 17, 2024 No Responses

Union Bank Pledges Seamless Service As New Management Resumes

Union Bank of Nigeria has reassured its partners, customers and critical stakeholders of continued excellent service and seamless operations following the recent appointment of its new Managing Director/Chief Executive Officer, Yetunde Oni, by the Central Bank...

January 8, 2024 No Responses

CBN Disburses $61m To Settle Foreign Airlines’ Trapped Fund

The Central Bank of Nigeria (CBN) has disbursed 61.64 million dollars to foreign airlines through various Deposit Money Banks (DMBs). According to a statement issued by its Acting Director, Corporate Communications, Mrs Hakama Sidi-Ali on Sunday, the disbursem...

December 23, 2023 No Responses

CBN Unveils Guidelines For Regulating Virtual Assets In Nigeria

The Central Bank of Nigeria (CBN) has unveiled guidelines for virtual assets as part of measures to allow virtual assets service providers (VASPs) which include cryptocurrencies and crypto assets organizations to open accounts with Nigerian banks. The de...

December 22, 2023 No Responses

CBN Warns PoS Operators, Banks Against Cash Hoarding

The Central Bank of Nigeria has issued a warning against Deposit Money banks and Point of Sales (PoS) merchants over alleged hoarding of cash in the country. A circular signed by CBN’s acting director of Corporate Communications, Hakama...

November 22, 2023 No Responses

CIBN, NGX Forge Partnership To Boost Nigerian Financial Market

The Chartered Institute of Bankers of Nigeria (CIBN) said it would deepen its existing partnership with the Nigerian Exchange Limited (NGX) to further enhance the growth and development of the Nigerian financial market. The President/Chairman, Council of CIBN...

November 11, 2023 No Responses

Saudi Arabia Pledges Support For CBN, Nigeria’s Refinery

The government of Saudi Arabia has promised to support the reforms being implemented by the Central Bank of Nigeria and also revamp Nigeria’s existing refineries through its state-owned oil company, Aramco during a bilateral engagement between President Tinu...

October 13, 2023 No Responses

CBN Lifts Restriction On 43 Items

The Central Bank of Nigeria (CBN) has restated its commitment to boost liquidity in the Foreign Exchange (FX) market. CBN’s Director, Corporate Communications, Dr Isa AbdulMumin, made this known on Thursday in Marrakech. AbdulMumin also announced that Import...

September 27, 2023 No Responses

CBN: Cardoso Pledges Compliance

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has promised that his administration would inculcate a culture of compliance into the apex bank by adhering strictly to the CBN Act 2007. “I believe that the Central Bank under...

September 23, 2023 No Responses

Cardoso Assumes Duty As CBN Governor

Acting Central Bank of NIgeria (CBN) Governor Dr. Olayemi Cardoso, on Friday, September 22, 2023, formally assumed duty, in an acting capacity, as the Governor of the apex bank, pending his confirmation by the Senate. CBN in a statement, on...

September 15, 2023 No Responses

Tinubu Nominates Yemi Cardoso As CBN Governor

President Bola Tinubu has approved the nomination of Dr. Olayemi Cardoso as the new Governor of the Central Bank of Nigeria (CBN) for a term of five years at the first instance, pending his confirmation by the Senate.⁣A statement signed...

August 15, 2023 No Responses

CBN: New FX Policy Will Lead To Losses For Speculators

The acting Governor of the Central Bank of Nigeria (CBN) Fola Shonubi, on Monday warned speculators of potential losses as they implement a new policy to stabilize the exchange rate regime. Shonubi explained that the CBN has come up with...

July 28, 2023 No Responses

World Bank Implores Nigeria On Borrowing From CBN

To reduce inflationary pressure on the economy, the World Bank Group has urged Nigeria to reduce government’s borrowing from the Central Bank. World Bank’s Lead Economist for Nigeria, Alex Sienaert, stated this on Thursday during an economic review session...

June 15, 2023 No Responses

CBN Explains Unification Of All Exchange Rate Windows

In a bid to improve liquidity and stability, the Central Bank of Nigeria (CBN) has announced the unification of all segments of the forex market collapsing all windows into one. According to a press statement signed by the Director of...