33 Former CBN Workers Seek N30bn Compensation for Wrongful Termination   A group of former Central Bank of Nigeria employees, who were let go in a large-scale restructuring effort last year, have filed a lawsuit against the apex bank at the National Industrial Court of Nigeria...

Nigeria's IMTO Inflows Jump by 63.7% in Nine Months - CBN   According to the Central Bank of Nigeria (CBN) the country witnessed a significant surge in international money transfers, with inflows from International Money Transfer Operators (IMTOs) rising by 63.7% during the first nine months...

Federation Account grew by 7.48% in Q3 2024 Money flowing into Nigeria’s federation account grew to N6.86 trillion in the third quarter of 2024, according to a new Economic Report from the Central Bank of Nigeria (CBN). This was a 7.48 per cent increase from the...

CBN Facilitates N7.05bn, $714,569.03 Refund to Bank Customers in Eight Months The Central Bank of Nigeria (CBN) has made several money deposit banks in Nigeria refund N7.05 billion and $714,569.03 to bank customers within eight months, disputing the financial service providers. The eight-month recovery is part...

Banks’ Credits to Private Sector Rise to N76trn Credit to the Private Sector (CPS) surged by 27.3 per cent year-on-year to N75.96 trillion in November, Central Bank of Nigeria (CBN) economic report, has shown. The uptick in credit to key sectors of the economy has been...

Currency in Circulation Hits N4.8trn Amidst Cash Crunch   The total currency in circulation in Nigeria reached N4.8 trillion in November 2024, up 7% from the previous month and representing an all-time high. Also, currency outside banks grew significantly in the same month hitting an all-time high of N4.6...