Customers Reject Deposit Conditions As Banks Dispense Old Notes More Commercial Banks have begun to dispense old N1,000 and N500 notes to their customers, about three days after a few banks started doing so. Findings revealed that Polaris Bank and First Bank had started to pay...

Open Banking: CBN Issues Guidelines for Financial Stability The Central Bank of Nigeria has issued operational guidelines for open banking to ensure stability in the nation’s financial system. The apex bank in a circular referenced, ‘PSM/DIR/PUB/CIR/001/043’, and dated March 7, 2023, said the guidelines would create...

CBN Trains over 400 Kano Residents On e-Naira Usage By Ozumi Abdul The Central Bank of Nigeria (CBN) on Wednesday trained over 400 people in Kano state on the usage of the Central Bank Digital Currency (CBDC), popularly called e-Naira. The training which was held in Gadun...

S’Court Order/Cash Crunch: Banks in Partial Compliance, Others Await CBN Directives Many Deposit Money Banks are yet to comply with the Supreme Court order approving the use of old N1,000 and N500 and N200 notes as legal tender for 10 months. While few banks have commenced...

Anchor Borrowers: CBN Says Farmers Repaid N503bn, Faults IMF’s Poor Rating The Central Bank of Nigeria has disclosed that farmers under the Anchor borrowers programme have repaid N503bn representing 52.39 per cent owed as of February 2023. The Anchor Borrowers Programme was established in 2016, is...

In 11 months, FG Records N7.34tn Fiscal Deficit - CBN The Central Bank of Nigeria has disclosed that it recorded N7.34tn fiscal deficit for the Federal Government between January 2022 and November 2022. The CBN revealed this in the statement presented by a member of the...