The CBN Currency Plan: Deepen Distrust, Cause Disaffection, by Jibrin Ibrahim   THE CBN has decided, you can’t take more than 20k out of your own money from your own bank account in one day. In a country in which the majority of Nigerians have no bank...

CBN's Destructive Regulation: An Attempt to Cash-starve Hardworking Nigerians, by Habibu Bawa   Despite my poor understanding of formal and banking sector, I still believe, as a Nigerian who spent considerable years in hand-to-hand, me-to-you or rather the Nigerian Informal Sector, the Central Bank's new cash...

eNaira Transactions Now N8bn – CBN   The Central Bank of Nigeria (CBN) has revealed that the eNaira application has so far recorded a total digital transaction valued at about N8 billion as at the end of October, 2022. Recall that the eNaira was launched on the...

CBN Limits Cash Withdrawals To N100, 000, N500,000 Weekly For Individuals, Companies     The Central Bank of Nigeria (CBN) has limited over-the-counter cash withdrawals by individuals and corporate entities to N100, 000 and N500, 000 respectively weekly. According to a new memo to banks on Tuesday by...

Banks’ Consumer Loans Increases By 31% To N2.55trn On Rising Inflation     On the back of rising inflation rate in Nigeria, banks’ consumer loans rose by 31 per cent or N615.82 billion in one month to N2.55trillion in July 2022 from N1.93trillion in June 2022, the...

Emefiele Says Non-Oil Exporters Fetched Nigeria N2.1trn Forex This Year   The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said $4.987 billion (about N2.1 trillion) has been repatriated to Nigeria by non-oil exporters so far in 2022. Emefiele, who spoke at the second...