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 takes steps to Strengthen Banking Sector, Issues Routine Transitional Guidance
THE Central Bank of Nigeria (CBN) has introduced time-bound measures for some banks still completing their transition from the temporary regulatory support provided in response to the economic impact of the COVID-19 pandemic. According to a statement issued by Mrs Hakama Sidi-Ali CBN’s Acting Director, Corporate Communications Department , this …
Read More »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 …
Read More »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 …
Read More »Alleged Corruption: How Emefiele Received $17.1m Cash — EFCC witness
AN official of the Economic and Financial Crimes Commission, Alvan Gurumnaan, who is testifying as the eighth prosecution witness, has told the Lagos State Special Offences Court sitting in Ikeja how a former governor of the Central Bank of Nigeria, Godwin Emefiele, allegedly received a total of $17.1 million in …
Read More »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 …
Read More »Black Market Dollar To Naira Exchange Rate Today 26th May 2025
WHAT is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 25th May, below. You can swap your dollar for Naira at these rates. How much is a dollar to naira …
Read More »Black Market Dollar To Naira Exchange Rate Today 25th May 2025
WHAT is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 24th May, below. You can swap your dollar for Naira at these rates. How much is a dollar to naira …
Read More »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 …
Read More »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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