Central Bank of Nigeria Archives

Nigeria’s foreign exchange reserves surge by 5% to $33.58bn

NewsDeskNgJun 21, 2024June 21, 20240

Nigeria’s foreign exchange reserves increased by 5 percent to $33.58 billion in the last two months. This is according to the Central Bank of Nigeria, CBN’s latest FX data as of June 19, 2024. Accordingly, the foreign exchange reserves figure represents a $1.47 billion increase compared to $32.11 billion on...

Heritage Bank: Revocation of license by CBN wasn’t surprising

NewsDeskNgJun 5, 2024June 5, 20240

Former Deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu, has described the recent revocation of the banking license of Heritage Bank by the apex bank as the chronicle of a death foretold. Moghalu said the development wasn’t surprising. In a post on his X handle on Wednesday,...

Nigerian govt can pay N500,000 Minimum Wage with active production economy – Moghalu

NewsDeskNgJun 5, 2024June 5, 20240

A former deputy Governor of the Central Bank of Nigeria, CBN, Kingsley Moghalu, has said the Nigerian Government can pay N500,000 as minimum wage if the country has an active production economy. Moghalu, however, said government can only pay between N75,000 to N100,000 as new minimum wage due to the...

Emefiele denies alleged unlawful Naira redesign charge, gets N300m bail

NewsDeskNgMay 15, 2024May 15, 20240

Immediate past Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele on Wednesday denied any wrongdoing in redesigning the nation’s currency, the Naira in 2022. Emefiele made the denial when he pleaded not guilty to the four count charge preferred against him before Justice Maryanne Anenih of the High...

Jim Obazee concludes CBN probe, submits report to Tinubu

NewsDeskNgApr 5, 2024April 5, 20240

President Bola Ahmed Tinubu has officially closed Jim Obazee’s investigation into operations of the Central Bank of Nigeria, CBN. According to reports, Tinubu appointed Obazee as a special investigator to probe the CBN and other related entities. His appointment was contained in a letter dated July 28, 2023. Tinubu, on...

Ogun governor orders arrest of ex-CBN staff, family members’ killers

NewsDeskNgJan 5, 2023January 5, 20230

Governor Dapo Abiodun of Ogun State has ordered the Ogun State police command to go after the murderers of Mr and Mrs Kehinde Fatinoye, who were killed on January 1. Earlier reported that some yet-to-be identified persons had attacked the Fatinoyes immediately they returned from the New Cross Over service...

Kaduna residents worry over scarcity of new naira notes

NewsDeskNgJan 3, 2023January 3, 20230

Kaduna residents have expressed worries and disappointment over the scarcity of new naira notes, with many saying the public ought to be familiar with the new currency to guide against fake notes as they entered into the New Year. Recall that the Central Bank of Nigeria, CBN, introduced the redesigned...

CBN’s N23.7trn ‘Ways and Means’ loan will benefit Nigerians – Expert

NewsDeskNgDec 29, 2022December 29, 20220

An economist, Dr Boniface Chizea, has said that the Central Bank of Nigeria’s N23.7 trillion’ Ways and Means’ loan request would help put money in the hands of Nigerians. Chizea made this disclosure in a Channelstv interview monitored on Thursday. Reacting to the Nigerian Senate’s rowdy session on Wednesday and...

Naira redesign: How bank rejected N20m gummed together, decomposing – Presidency

NewsDeskNgDec 2, 2022December 2, 20220

Following the move by the Central Bank of Nigeria, CBN, to redesign some Naira notes, the presidency has revealed how the development is affecting some billionaires who may have stashed the currency in their various houses. President Muhammadu Buhari’s Chief spokesman, Femi Adesina in an article on Friday, narrated how...