CBN
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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The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing commercial banks, mobile money operators, and other financial institutions to implement the National Cybersecurity Levy.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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CBN Directs Banks To Suspend Cybersecurity Charges On Deposits
The Central Bank of Nigeria (CBN) has suspended charges on cash deposits until September 30, 2024. The apex bank disclosed this in a circular dated May 6, 2024, signed by…
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Nigerians hoarding 94 percentage of cash, says CBN
Nigerians are holding onto cash at an unprecedented rate with a staggering 94 percent of the currency outside the banking system.This Central Bank of Nigeria (CBN) stated this in its…
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CBN Start Dollar Sales to BDCs at N1,101/$1
The Central Bank of Nigeria (CBN) has announced the sales of foreign exchange (FX) to the bureau de change (BDC) operators at the rate of N1,101/$. The CBN disclosed this…
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CBN Relives 8 Directors, 32 Others
The Central Bank of Nigeria (CBN) has reportedly terminated the employment of another batch of 40 staff members, primarily from the development finance department (DFD). Details regarding the affected individuals…
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CBN N500b Capital Requirements Alerts Potential Bank Merging
A Significant increase in the minimum capital requirements for all banks operating in the country was yesterday announced by the Central Bank of Nigeria (CBN).Acting Director, Corporate Communications, Mrs. Hakama…
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CBN Recapitalization Standards: Only Seven Banks Qualify
17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it is increased from its current N25bn, according…
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