CBN announces ₦6.98 charge for USSD transactions

The Central Bank of Nigeria (CBN) has imposed ?6.98 service charge on Nigerians for all USSD transactions. A statement jointly signed by the apex bank and the Nigerian Communications Commission (NCC) and released today March 16, says customers will pay a flat fee of N6.98 per transaction every time they use USSD services from March… Continue reading CBN announces ₦6.98 charge for USSD transactions

Governor Wike accuses CBN of playing politics with its agriculture development loans to states

Governor Nyesom Wike of Rivers state has alleged that the Central Bank of Nigeria is playing politics with its agriculture development loans to states. Recounting how his state was denied of the loan by the apex bank while hosting the Minister of State for Agriculture and Rural Development Mustapha Shehuri on Monday March 15, Wike… Continue reading Governor Wike accuses CBN of playing politics with its agriculture development loans to states

Cryptocurrency Ban: CBN gov Emefiele arrives Senate

Cryptocurrency Ban: Governor of the Central Bank of Nigeria Godwin Emefiele on Tuesday arrived at the National Assembly to honour the request by the Senate joint committee on banking insurance and other financial institutions, (including ICT and cybercrime) over the recent ban on cryptocurrency in the country. The decision by the Senate to invite the… Continue reading Cryptocurrency Ban: CBN gov Emefiele arrives Senate

Court orders CBN to unfreeze accounts of #EndSARS protesters

A federal high court has asked the Central Bank of Nigeria (CBN) to unfreeze the bank accounts of 20 #EndSARS protesters. Recall that on November 5, the CBN secured an order from Justice Ahmed Mohammed of the Federal High court in Abuja to freeze the accounts of 19 of the alleged #EndSARS promoters and a… Continue reading Court orders CBN to unfreeze accounts of #EndSARS protesters

CBN relaxes rules on foreign remittances and domiciliary accounts

The Central Bank fo Nigeria has relaxed its rules on foreign remittances and domiciliary accounts.  In a statement signed by the apex bank’s director of trade & exchange O.S Nnaji, it was gathered that beneficiaries of diaspora remittances through the international monetary transfer operators (IMTO) shall now allow inflows in foreign currency (US Dollar) through the designated… Continue reading CBN relaxes rules on foreign remittances and domiciliary accounts

CBN gets court order to freeze accounts of #EndSARS promoters till January

The Federal high court sitting in Abuja has granted the Central Bank of Nigeria’s request to freeze the accounts of 19 individuals and a public affairs company linked to the #EndSARS protests. The request, granted by Justice Ahmed Mohammed, was filed by the CBN on October 20. The suit marked FHC/ABJ/CS/1384/2020 listed those affected by… Continue reading CBN gets court order to freeze accounts of #EndSARS promoters till January

Cars of #EndSARS protesters who slept at CBN headquarters burned by hoodlums who attacked them

The #EndSARS protest staged at the Central Bank of Nigeria (CBN) head office in Abuja, took a violent turn last night.  The young protesters who held up different placards and blocked the two entrances of the Central Bank of Nigeria (CBN) head office in Abuja, had vowed to prevent activities at the nation’s apex bank on Monday October… Continue reading Cars of #EndSARS protesters who slept at CBN headquarters burned by hoodlums who attacked them

Fund BDC to stabilize Naira – Sanusi tells CBN

Former Emir of Kano, Sanusi Lamido Sanusi has asked the Central Bank of Nigeria (CBN) to fund the bureaux de change (BDC) across the country to stabilise the value of the Naira.  The former CBN Governor who gave the advice during a webinar tagged ‘United States of Naira: What Price for Unification’ which was organised by… Continue reading Fund BDC to stabilize Naira – Sanusi tells CBN

CBN bans forex for maize importation

Banks have been directed to stop processing Forms M for the importation of maize with immediate effect.  The Central Bank of Nigeria (CBN)who made the order on Monday July 13, said the decision to ban forex for maize importation was made to increase local production, stimulate a rapid economic recovery, safeguard rural livelihoods. The apex bank further… Continue reading CBN bans forex for maize importation