President Buhari nominates Godwin Emefiele for Second Term as CBN Governor

President Buhari has nominated the Governor of the Central Bank Of Nigeria (CBN), Godwin Emefiele, for a second term. The letter for his tenure elongation was sent to the Senate on Wednesday May 8th and read by senate president Bukola Saraki during plenary today Thursday, May 9th.

CBN Set To Launch Clean Note Policy, Banknote Fitness Guidelines

The guidelines would be launched in Lagos tomorrow. The documents would be unveiled by the CBN Governor, Mr Godwin Emefiele. The Clean Note Policy provides a uniform standard for the circulation of only clean and fit banknotes in Nigeria; while the Banknote Fitness Guidelines provide the industry with clear and acceptable criteria for determining the quality of banknote in circulation. These documents were developed after extensive collaboration and engagements with key industry stakeholders under the auspices of the Nigerian Cash Management Scheme, a Bankers’ Committee initiative.

Spraying the Naira is punishable by a 6months jailterm – CBN

Spraying the Naira notes according to the Central Bank of Nigeria (CBN)is an offence punishable by 6 months in jail. Acting Director of the bank’s Currency Operations Department, Priscilla Eleje, according to The Cable, made this known in a public sensitization and enlightenment campaign in Ibadan on Saturday.

CBN To Nigerians: Reject Dirty Naira Notes From Banks

The Central Bank of Nigeria (CBN) says customers should demand new naira notes from their respective banks and reject dirty ones. Speaking in an interview with NAN in Lagos on Thursday, Isaac Okorafor, CBN spokesman, said commercial banks are sabotaging its effort in replacing mutilated notes with new ones. The bank made similar claims in February. Okorafor said the apex bank is aware of the development and has taken several measures in addressing the issue of mutilated notes in the circulation. According to him, one of the steps taken to mop up the mutilated notes from the system was reduction in the amount CBN charges banks for sorting the dirty notes for clean ones from N12,000 to N1,000 per box.

Aishah Ahmad, Lametek Adamu confirmed as CBN deputy governors

Aishah Ahmad and Edward Lametek Adamu were today confirmed as deputy governors of Central Bank of Nigeria by the Senate. Both persons were nominated by President Buhari in October 2017 and February 2018 respectively.

FG is borrowing money too much – CBN warns

The Central Bank of Nigeria, CBN, has expressed concern over the borrowing attitude of government, saying the pace has exceeded the target for the 2017 fiscal year. The CBN said this at its Monetary Policy Committee, MPC, second quarter 2017 meeting. The MPC communique reads in part: "The Committee was concerned that credit to government continued to outpace the programmed target of 33.12 per cent for fiscal 2017, while credit to the private sector declined considerably far below the programmed target of 14.88 per cent." CBN Governor, Godwin Emefiele said the Net Domestic Credit, NDC, grew by 1.40 per cent in April, 2017, annualized to 4.21 per cent, which is significantly below the 17.93 per cent provisional growth benchmark for 2017. He noted that net credit grew by 24.08 per cent over end-December 2016, representing an annualized growth of 72 per cent.

BREAKING News: CBN Reverses Cashless Policy, Directs Banks to Refund Deductions

The Central Bank of Nigeria has reversed the cashless policy it directed banks to introduce effective April 1, 2017 in some parts of the country. In what could be described as a policy reversal, the Central Bank of Nigeria (CBN) on Friday, suspended its earlier directive on the implementation of cashless policy. In a circular released on Friday and signed by Dipo Fatokun, director, banking and payments system department, CBN instructed banks to revert to old charges and refund customers who had been debited.

CBN bars banks from bitcoin, virtual currencies

On Tuesday, the Central Bank of Nigeria (CBN) released a circular that barred deposit money banks and all other financial institutions from the operation of any form of virtual currency. The circular was signed the CBN Director of Financial Policy and Regulation Department, Mr. Kevin Amugo. Virtual currencies (VCs) such as bitcoin, ripples, magneto, litecoin, dogecoin, peercoin, one-line, and others, have not been recognised as legal tender in Nigeria but which are already being traded in exchange platforms that are unregulated all over the world.

CBN To Extend BVN Registration To Microfinance Banks, Others

The Central Bank of Nigeria (CBN) plans to extend the Bank Verification Number (BVN) registration project to customers of other Financial Institutions (OFIs), its Director, Banking and Payment Systems Department, Dipo Fatokun, has said. The OFIs are Microfinance Banks, Primary Mortgage Institutions and others. Mr. Fatokun made the disclosure at a bi-monthly forum organised by Finance Correspondents Association of Nigeria (FICAN) in Lagos on Sunday.

Central Bank Orders Nigerian Banks to Return N6.2b Illegal Charges to Customers (Statement)

Nigeria's apex bank has said in a statement that it has compelled Deposit Money Banks (DMBs) to refund N6.2 billion to customers they over charged as cost of transactions in 2015. In a statement made available by the Director, Corporate Communications, of the Central Bank of Nigeria (CBN), Ibrahim Mu’azu, in Abuja on Saturday, the nation's apex bank said it compelled Deposit Money Banks (DMBs) to refund N6.2 billion to customers they over charged as cost of transactions in 2015.

No Going Back On October 31st BVN Deadline - CBN Insists

The Central Bank of Nigeria (CBN) says Oct. 31 remains the deadline for bank customers to obtain their Bank Verification Numbers (BVN). Mr Dipo Fatokun, Director, Banking and Payment System Department (BPSD) of CBN re-affirmed this while speaking to journalists yesterday in Abuja. Fatokun said that at the deadline, bank customers that had not enrolled for BVN would not be able to access their accounts.

Breaking News! CBN Extends Bank Verification Number Deadline To Oct. 31st

The Central Bank of Nigeria has extended the BVN registration across the country. The deadline is now October 31st 2015. ....See Tweet by Radio Continental Below:

Photos: President Jonathan Unveils The New N100 Note, Check It Out

The President of the Federal Republic of Nigeria, Goodluck Jonathan has unveiled the new N100 note to commemorate Nigeria's 100 years of amalgamation.The unveiling was done today, during the Federal Executive Council meeting....See another photo below: