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Tag Archives: Central Bank of Nigeria

No hidden charges for NRBVN, CBN warns

The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform,. In a statement by Acting Director of the Corporate Communications Department, Mrs Hakama Sidi-Ali, the apex bank affirmed that no hidden fees have been introduced. Sidi-Ali said …

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CBN debunks BDC Recapitalisation Deadline Shift

THE Central Bank of Nigeria (CBN) has debunked a news story circulating that suggested it had extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to Dec. 31. In a statement on Wednesday, Mrs Hakama Sidi Ali, CBN Acting Director, Corporate Communications Department, described the information as …

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Court dismisses £990trn Suit Against CBN

THE Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible. Justice James Omotosho, in a judgment, also held that the suit filed by Omosebi to seek redress over alleged …

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Ex-CBN director lauds Dangote Refinery for reducing petrol price

Dr. Titus Okunronmu, a former director, Budgetary Department of Central Bank of Nigeria (CBN), has commended the Dangote Refinery for reducing pump price of petrol from N885 to N870. Okunronmu made the commendation in an interview with the News Agency of Nigeria (NAN) in Ota,Ogun on Tuesday. Newsextra24 reports that …

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Naira gains massively against Dollar

THE Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market. Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone. This marks a 0.28 per cent appreciation …

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CBN Retains Interest Rate at 27.5%

THE Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27.5 per cent. CBN Governor Olayemi Cardoso announced this in Abuja on Tuesday, May 20, 2025, following the Monetary Policy Committee (MPC) meeting. Cardoso said all 12 MPC members voted unanimously to retain the policy. The …

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