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Central Bank of Nigeria - CBN

Central bank orders private, public firms to pay salaries, taxes, pensions electronically

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to dishonour instructions on the payment of salaries, pensions, and taxes of public and private companies that are not transmitted on approved electronic payment and collection platforms.

Central bank urges fintechs, payment service providers to stick to standards

The Central Bank of Nigeria has urged financial technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to policy framework and standards that guide their respective operations in the ecosystem in which they operate.

CAFEi urges CBN to extend deadline for mutilated notes return

Otunba ‘Debola Osibogun, CAFEi President, said in Lagos on Sunday that extension of the deadline would give room for more people to key into the initiative.

Central bank alerts on fraudulent loan schemes

The Central Bank of Nigeria (CBN) on Monday warned loan seekers and owners of small-scale businesses to beware of fraudulent loan offers purportedly by the Federal Government.

Central bank warns against fraudulent loan offers

The Central Bank of Nigeria (CBN) has warned Nigerians to beware of fraudulent messages in the social media circles requesting unsuspecting loan seekers and owners of small-scale businesses to apply for loans provided by the Federal Government through an e-mail address ([email protected]) purportedly being handled by the Central Bank of Nigeria (CBN).

NDIC: Banks’ profit up by 106% to N310 billion in 2018

The banking industry recorded 106 per cent increase in profitability to N310 billion in 2018 from N150 billion in 2017.

CBN: Currency circulation rose to N2.16 trillion in April

At N2.158tn, currency-in-circulation, on month-on month basis, rose by 0.3 per cent at end-April 2019, the Central Bank of Nigeria has said.

Lagos chamber: Central bank lending rate will normalise credit market, economic growth

Lagos Chamber of Commerce and Industry (LCCI) says the lending policy of the Central Bank of Nigeria (CBN) will normalise the credit markets, spur economic growth and broaden the interface between entrepreneurs and the banking industry.
The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

Central bank: One million farmers benefit from anchor borrowers scheme

The Central Bank of Nigeria (CBN) said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

Central bank governor unveils agenda for economy, to recapitalise banks

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Monday unveiled his economic blueprint for the country, promising to recapitalise banks within the next five years to make them contribute significantly to economic growth.

NIRSAL secures fresh N4.5 billion from three banks for farmers

The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four Deposit Money Banks for the cultivation of maize and soybeans in three states.

Reps: Over $900 million found in secret non-TSA accounts

The House of Representatives said it discovered that over $900m was still “being held” by Federal Government’s ministries, departments and agencies (MDAs) outside Treasury Single Account (TSA).

Central bank to withdraw N7.9 trillion dirty, mutilated notes

A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.

Godwin Emefiele: MFBs advanced N482.89 billion credit to MSMEs in 2018

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.

Revenue commission to probe banks over N100 billion stamp duties

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.
Zainab Ahmed

Federal government introduces new revenue initiative

The Federal Government on Wednesday introduced the Strategic Revenue Growth Initiative to generate more revenues to finance national development.

NDIC becomes full member of Islamic financial board

The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.

Central bank: Proposed increase in minimum wage will stimulate growth

The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.

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President Muhammadu Buhari has sent felicitations to the monarch of Nupe Kingdom in Niger, Etsu Nupe, Alhaji Yahaya Abubakar as he marked 16 years on the throne and celebrated 67th birthday.

President Buhari congratulates Etsu Nupe on double celebrations

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Bayelsa PDP crisis: Ex-ward chairmen rallies support for Senator Ewrudjakpo

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