24hrs News & Updates
The governors of the 36 states of the federation will on Tuesday meet with the Economic and Financial Crimes Commission (EFCC), and the Central Bank of Nigeria (CBN) over the security votes in their respective domains. Also expected at the meeting are the Independent Corrupt Practices and other related offences Commission (ICPC) and the Federal…
Acting proactively to forestall circulation of counterfeited notes, the Central Bank of Nigeria has released the security features of the newly released N1,000 notes, N500 note and N200 note to aid easy recognition of the fake. According to the CBN, the N1,000 note has 23 security features, the N500 note has 15 security features, while…
Read More “Fake Naira Notes: CBN releases security features of new Naira notes” »
The Central Bank of Nigeria (CBN) yesterday warned that the abuse of naira notes attract jail terms. The apex bank said the law banning the “spraying” and the stepping on the naira, especially at social gatherings, is still in force and that offenders are liable to six months’ imprisonment or a fine of N50,000. Principal…
Recently, the Nigerian media space brimmed with various reportage and analysis sequel to the announcement by the Central Bank of Nigeria (CBN) to launch national domestic cards in January 2023. The launch date of the national domestic card scheme is January 16, 2023. In a statement released by the CBN spokesperson, Osita Nwanisobi, the CBN…
Read More “Revisiting The CBN’s National Domestic Card Scheme” »
The Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to banks by the end of the year. CBN Governor, Godwin Emefiele, said the banks must begin to source their forex from export proceeds. “The era is coming to an end when, because your customers need 100million dollars in…
Read More “CBN To Cease Sale Of FOREX To Banks By Year End – Emefiele” »
The Central Bank of Nigeria (CBN) has been directed to provide details of the $40million recovered by the Economic and Financial Crimes Commission (EFCC) in its recovery account domiciled in the apex bank. The House of Representatives’ Public Accounts Committee (PAC) on Tuesday launched an investigation into the allegedly missing funds based on an audit…
The Central Bank of Nigeria has announced a downward review of charges for electronic banking transactions in its revised guidelines to charges by Banks, other Financial Institutions and Non-Bank Financial Institutions. This was confirmed in a circular released on Friday by the apex bank’s Director, Financial Policy and Regulation Department, Chibuzor Efobi, titled, “RE: GUIDE…
Read More “CBN Releases Revised Fees Chargeable on Interbank Transfers, Slash ATM Charges” »