New Naira: CBN Join Forces with EFCC, ICPC to Track Large Withdrawals The Central Bank of Nigeria has revealed plans to collaborate with law enforcement agencies like the Economic and Financial Crimes Commission and the Independent Corrupt Practices and Other Related Offences Commission, to complicate...

15.5% Rate: CBN Directs Banks to Increase Interest on Savings Deposits The Central Bank of Nigeria has ordered deposit money banks (DMBs) across Nigeria to increase interest on customers' savings. The apex bank directed banks to pay 4.65 per cent interest on savings deposit accounts, an...

FG Generates N799.10bn in Q1, Missed Oil Revenue Target - CBN The Central Bank of Nigeria (CBN) has revealed that the country generated a sum of N799.10 billion in crude oil sales in the first quarter of the year (Q1 2022). This was however far less...

Aviation Experts Blame CBN Over Aviation Crisis The Central Bank of Nigeria has been advised by aviation experts to allow foreign airlines to access their funds. The Federal Government of Nigeria, a few days ago, bowed to pressure from foreign airlines after a number of them...

CBN Reverses Interest Rates on Intervention Loans to 9% The Central Bank of Nigeria (CBN) says it has reversed the reduction of five per cent interest rate paid on its interventions facilities to nine per cent yearly, starting from September 1, 2022. The bank had, at...

In Six Months, Nigeria Attracts $1.47bn Foreign Inflows - CBN The Central Bank of Nigeria (CBN) has revealed that Nigeria has attracted $1.47 billion capital inflows within six months of 2022. According to the apex bank, the Nigerian banking industry attracted $1.47 billion as capital inflows...