Despite Acceptance of Old Notes, Crowd Overwhelm Banking Halls The CBN had earlier instructed commercial banks to immediately collect the old naira notes, deposited at the apex bank, promising that before the end of the week, the nation would be awash with more naira notes,...

Naira Redesign: Reps Urge CBN to Revamp e-banking Platforms The House of Representatives has urged the Central Bank of Nigeria to direct banks to immediately revamp their electronic transaction platforms. According to the House, the move has become necessary in the aftermath of the recent CBN...

NLC Protests: CBN to Release Old Naira Notes to Banks The Central Bank of Nigeria has finally concluded plans to release all N1,000, N500 and N200 notes in its custody to Deposit Money Banks, according to The Punch. This decision is expected to end months of...

UPDATE: Why we Increased Interest Rate to 18 Percent - CBN The Central Bank of Nigeria (CBN) on Tuesday increased Monetary Policy Rate (MPR) which measures interest rate by 50 basis points to 18 percent to rein in inflationary pressure. This is one of the decisions...

BREAKING: CBN Increases Interest Rate to 18 Percent, Says Nigeria Banks Healthy   The Monetary policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased Monetary Policy Rate (MPR) which measures interest rate to 18 percent from the previous 17.5 percent adopted in January.   This...

Banks’ Borrowing Drops by 14% to N453.7bn - CBN Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) fell month-on-month (MoM) by 14 percent to N453.7 billion in February from N528.15 billion in January 2023. Findings from the CBN’s Financial Data for...