Central Bank of Nigeria (CBN)
CBN Orders Transfer of Dormant Account Funds to Apex Bank
The Central Bank of Nigeria (CBN) has directed all commercial banks and financial institutions to transfer funds from inactive or dormant accounts to its coffers.
This directive, announced in a circular by CBN Acting Director of Financial Policy … Continue Reading
Emefiele printed his own customised naira – Ex-CBN director
A former Director of Currency Operations at the Central Bank of Nigeria, Ahmed Umar, has made a bombshell revelation in court, alleging that the immediate past governor, Godwin Emefiele, printed his own design of the naira currency without approval from … Continue Reading
Why Heritage Bank’s licence was revoked — CBN reveals
The Central Bank of Nigeria (CBN) announced yesterday that it has revoked Heritage Bank’s operating licence due to the bank’s inability to improve its financial status. The Nigeria Deposit Insurance Corporation (NDIC) has started the bank’s liquidation process and will … Continue Reading
BREAKING: CBN Revokes Heritage Bank’s Operating License
The Central Bank of Nigeria (CBN) has revoked the operating license of Heritage Bank. This decision was announced by the Acting Director of Corporate Communications at CBN, Hakama Sidi Ali, through an official statement.
According to the CBN, the revocation … Continue Reading
CBN Sacks 200 More Staff in Ongoing Restructuring Efforts
The Central Bank of Nigeria (CBN) has sacked at least 200 officials, adding to the ongoing disengagements in the apex bank.
This move follows the termination of 117 staff members between March 15 and April 11, 2024. The … Continue Reading
Court seizes N830m, $4.7m and multibillion naira assets linked to Emefiele (full list)
A Federal High Court in Ikoyi, Lagos, has issued an interim forfeiture order for $4,719,054, N830,875,611, and various properties linked to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice Yellim Bogoro granted the order on … Continue Reading
CBN Instructs banks to Charge 0.5% cybersecurity levy for every transactions
The Central Bank of Nigeria (CBN) has mandated banks across the country to introduce a cybersecurity levy on transactions, according to a circular issued by the apex bank on Monday. The implementation of this levy is set to commence … Continue Reading
Emefiele collected $600,000 Cash As Kickback From Contractors – Ex-CBN Director Confesses
John Ikechukwu Ayoh, a former director at the Central Bank of Nigeria (CBN), has leveled serious allegations against the embattled former governor of the apex bank, Godwin Emefiele. Ayoh made these claims while testifying in an ongoing case of … Continue Reading
“Emefiele printed N684.5m with N18.9bn” – EFCC Files Fresh Charges
In a recent development, the Economic and Financial Crimes Commission (EFCC) has initiated a new legal action against the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The EFCC, through its top prosecutor, Rotimi Oyedepo, SAN, … Continue Reading
Naira’s Remarkable Turnaround: CBN Governor Cardoso’s Insights into Nigeria’s Currency Journey
In an exclusive interview conducted during the IMF/World Bank Spring Meetings in Washington DC, Mr. Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), provided valuable insights into his vision for shaping Nigeria’s monetary policy, addressing foreign … Continue Reading