N5.5trn Fiscal Deficit Report Wrong - CBN     The Central Bank of Nigeria, CBN, has faulted report that the cumulative fiscal deficit of the Federal Government stood at N5.5 trillion as at August 2021. The report representing a 39 per cent increase from the level in 2020,...

CBN To Bank Customers: Resist Illegal Arbitrary Charges     The Central Bank of Nigeria (CBN) has advised bank customers to resist arbitrary bank charges illegally imposed on them by Deposit Money Banks (DMBs). Reacting to claims by Igbo traders that depositors and other account operators with banks...

eNaira May Emerge Payment Gateway As CBN Intensifies Adoption     The Central Bank of Nigeria (CBN) is contemplating a series of options to push the adoption of the eNaira, including the possibility of making it a payment gateway. A payment gateway is a technology merchants use to...

South-East Traders Petition CBN, Allege Illegal, Spurious Bank Deductions     The South-East Amalgamated Markets Traders Association has decried what it described as “multiple and indiscriminate charges and deductions on customers” by commercial banks. The association complained about the bank charges in an open letter to the Governor...

E-Naira: We’re Guarding Against Hackers, Fraudsters – CBN     The Central Bank of Nigeria (CBN) has assured that it has put in place effective mechanisms to insulate the e-Naira from hackers and fraudsters. The Director, Corporate Communications Department of CBN, Mr Osita Nwanisobi, disclosed this at a...

In 10 Months, Direct Remittances Drops By 62.4% To $1.96bn       Latest data by Central Bank of Nigeria (CBN) has revealed that total direct remittances from Nigerians in Diaspora dropped by 62,4 per cent to $1.96 billion in 10 months of 2021 from $5.21billion it recorded...