CBN
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Black Market and CBN Exchange Rate Today, 4th May, 2025
The exchange rate for the US dollar (USD) to Nigerian Naira (NGN) in the parallel market, also known as black market, as of 4th May 2025, is N1,610 for 1…
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Court Stops CBN From Releasing Allocation To Rivers State
A Federal High Court in Abuja has stopped the Central Bank of Nigeria, CBN, from further releasing monthly financial allocations to the Rivers State government. The court held that the…
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Joint CBN, SEC, NDIC team to verify banks’ new capital base
A high-level tripartite committee of the three major regulators of the financial services sector has been formed to scrutinise new funds being raised by banks under the ongoing recapitalisation in…
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CBN revokes Heritage Bank’s licence
The Central Bank of Nigeria has revoked the banking licence of Heritage Bank Plc, effective immediately. This decision was made due to the bank’s failure to improve its financial performance,…
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CBN raises interest rate to 26.25%
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has increased the monetary policy rate (MPR), which serves as the benchmark for interest rates, from 24.75 percent to 26.25 percent.…
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Central Bank of Nigeria withdraws Cybersecurity Levy circular
The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing commercial banks, mobile money operators, and other financial institutions to implement the National Cybersecurity Levy. The circular, issued…
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