Strategic Capital Investment Ltd Acquires Polaris Bank for N1.355 Trillion The Central Bank of Nigeria has announced the completion of the sale of Polaris Bank. This was contained in a statement by the CBN’s Director, Corporate Communications, Osita Nwanisobi, on Thursday. In it, the CBN announced the...

Forex Policy Widened Exchange Gap By N300 – ABCON The President, Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, has said the unorthodox foreign exchange policy of the Central Bank of Nigeria has adversely impacted on the naira stability across all markets, and...

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...

CBN Raises Interest Rate To 15.5% To Tame Inflation   The Monetary Policy Committee of the Central Bank of Nigeria has raised the benchmark interest rate from 14 to 15.5 per cent in order to tame the rising inflation rate. This represents a 150-basis-point increase from the...

CBN Raises Interest Rate To 15.5% to Curb Inflation The Central Bank of Nigeria (CBN), Monetary Policy Committee has again raised the interest rate by 150 basis points to 15.5%. The raise is the third time that the apex bank will increase rates in the last...

JUST IN: Senate Seeks Removal of CBN Governor The Nigeria Senate has initiated moves to remove the Governor of Central Bank of Nigeria (CBN) as chairman of board of the apex bank. The CBN Act No. 7 of 2007 makes any incumbent Governor of the Central Bank...