CBN Advises Customers to Avoid Bank Queues, Visit PoS Agents The Central Bank of Nigeria has urged bank customers not to panic ahead of the January 31, 2023 deadline for the circulation of old N200, N500 and N1,000 notes. CBN’s Director of Internal Audit Department, Lydia...

Emefiele, CBN And Our Future, By Reuben Abati At some point later today, January 24, the Governor of the Central Bank of Nigeria, Godwin Emefiele is bound to be back in the news as the CBN’s Monetary Policy Committee (MPC) concludes its 289th meeting and...

Just In: CBN Increases Interest Rate to 17.5% The Central Bank of Nigeria Monetary Policy Committee has voted to increase the benchmark interest rate by 100 basis points to 17.5 per cent. This was disclosed by the CBN Governor, Godwin Emefiele, on Tuesday while reading the communiqué...

Cash swap: CBN Excludes Abuja, Lagos PoS Operators Abuja and Lagos Mobile money/Point of Sales agents have been excluded from the Central Bank of Nigera's newly launched cash swap programme. CBN outlined some guidelines for the cash swap programme in a Frequently Asked Questions' document. The development...

Banks Lending Rate to Customers Rises to 29.13% The Central Bank of Nigeria has reported that as of December 20, 2022, the maximum lending rate in the banking sector hit 29.13 percent and the savings deposit rate was 4.13 percent. Figures obtained from the CBN on...

Ahead of CBN's Deadline, Traders, Supermarkets, Others Begin to Reject Old Naira Notes Many supermarkets, eateries and petty traders have begun to reject the old naira notes. Most of the supermarkets notified their customers via notices and text messages that they won’t accept the old...