As in many developing countries, cash has been the most prevalent mode of payment in Nigeria until 2012 when the Central Bank of Nigeria (CBN) introduced the cashless policy with the aim of promoting the use of electronic payment channels…
Customers won’t pay for returning bad notes – CBN (Punch)
The Central Bank of Nigeria on Sunday said that customers of banks would not be charged any fee for returning mutilated naira notes after the September 2 deadline. The CBN Director, Corporate Communications Department, Mr Isaac Okorafor, said this during…
Why CBN will no longer provide forex for food import – Buhari
President Muhammadu Buhari Tuesday in Daura, Katsina State, said he has directed the Central Bank of Nigeria (CBN) to stop providing foreign exchange for importation of food into the country, with the steady improvement in agricultural production, and attainment of…
Keystone Bank realigns to energise growth, appoints new executive directors
In line with strategic business intent and corporate realignment to sustain continued business growth, the Board of Directors of Keystone Bank Limited has announced the appointment of three new Executive Directors. At its 49th, Annual General Meeting held in Lagos,…
Abusing Naira notes is criminal offence –CBN (Sun)
The Central Bank of Nigeria (CBN), has appealed to Nigerians to stop defacing the naira, describing it as a national identity and symbol, which must be kept neat. Isaac Okorafor, the CBN Director of Corporate Communication, made the appeal at…
38 million Nigerians now have BVNs, says CBN (Punch)
Banks in the country have successfully linked 38 million accounts with the Bank Verification Numbers, according to the Central Bank of Nigeria. As part of its financial inclusion drive, the CBN said it was targeting 100 million BVNs in the…
Unemployment: CBN promises seven-year loans for corpers (Punch)
The Central Bank of Nigeria has said it will offer loans to National Youth Service Corps members to start small and medium scale enterprises, which they will repay in seven years. The CBN Governor, Dr Godwin Emefiele, who stated this…
Titan Trust Bank set to redefine retail banking in Nigeria
Barring any last-minute changes, one of the five new banks licensed by the Central Bank of Nigeria (CBN), Titan Trust Bank Limited is set for entry into the Nigerian banking industry in grand style, in a matter of weeks. The…
CBN Act demands we defend Naira, says Emefiele (Nation)
The Central Bank of Nigeria (CBN) vowed on Saturday to sustain its policy of defending the naira against world currencies for the next five years. It said the policy is backed by the CBN Act. Speaking at a Consultative Roundtable…
FirstBank: Demystifying financial inclusion with XploreFirst
Worried by the increasing rate of the unbanked population, the federal government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020. The CBN carried…