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Tag Archives: central bank of nigeria

Kaduna To Commence Implementation Of Treasury Single Account Sept. 1

Nasir el-Rufai

The Kaduna State Government Thursday announced its decision to commence implementation of the Treasury Single Account (TSA) framework by September 1. As part of the process of achieving this goal, all banks that maintain the accounts of the Kaduna State Government have been put on notice to close them and ... Read More »

Corruption: Buhari May Beam Searchlight On CBN


As part of measures to recover funds allegedly stolen under the past administration, President Muhammadu Buhari may have decided to beam his searchlight on the recent activities of some government agencies and departments in the Central Bank of Nigeria. It was gathered that during his June 23 meeting with state ... Read More »

Mutilated Currency Scam: We’re Not Guilty – CBN Staff


The Federal High Court in Ibadan on Wednesday ordered the remand of eight bank officials over alleged currency scam. The Economic and Financial Crimes Commission had arraigned three Central Bank of Nigeria (CBN) staff and five employees of First Bank Plc over the alleged scam. The CBN employees are Kolawole ... Read More »

N8bn Dirty Notes Fraud: EFCC Set To Arraign Six CBN Officials, 16 Bankers


Six officials of the Central Bank of Nigeria (CBN) and 16 others from some commercial banks are to stand trial for alleged N8 billion fraud, the Economic and Financial Crimes Commission (EFCC) said yesterday. The anti-graft agency alleged that the suspects recirculated defaced and mutilated currencies. The Head, Media and ... Read More »

Cashless Policy Responsible For Reduction In Kidnappings – CBN


The Central Bank of Nigeria, CBN, has said that its cashless policy had contributed to a reduction in the spate of kidnapping in the country. nike air max shoes The bank’s Branch Controller in Enugu, Patrick Okonkwo, said at the weekend that the policy had made it impossible for ... Read More »

Naira Devaluation: Nigerian Workers Demand Salary Increase


The Trade Union Congress, TUC, has said it will demand wage increase for workers in the New Year following the devaluation of the naira by the Central Bank of Nigeria, CBN. The National President of the Congress, Bobboi Kaigama, disclosed this at the end of the Congress’ National Executive Council ... Read More »

FG’s Centenary N100 Commemorative Note ‘Grossly’ Wasteful – TUC


The Trade Union Congress of Nigeria (TUC) has faulted the introduction of a new N100 note by the Central Bank of Nigeria (CBN) to commemorate Nigeria’s centenary. This was contained in a statement yesterday signed by the president general of TUC, Comrade Bobboi Bala Kaigama. According to TUC, “the unveiling ... Read More »

Jonathan To Unveil Commemorative N100 Centenary Note Today


President Goodluck Jonathan is expected to unveil the specially designed commemorative N100 banknote by the Central Bank of Nigeria on Wednesday (today). The CBN disclosed this in a statement on Monday in Abuja. The apex bank said the commemorative note was part of its contribution to the centenary celebration and ... Read More »

CBN Responds To SERAP Suit, Denies Laundering Money For Boko Haram


The Central Bank of Nigeria (CBN) has denied allegations that funding for the activities of insurgent group, Boko Haram, were funneled through it. It would be recalled that Socio-Economic Rights and Accountability Project (SERAP), had on 14 October dragged the CBN before the Federal High Court, Ikoyi, following the apex ... Read More »

Reintroduction Of N65 ATM Charge ‘Satanic Extortion’ – NANS


The National Association of Nigerian Students, NANS, has condemned the re-introduction of the Automatic Teller Machine (ATM) charge by the Central Bank of Nigeria. The CBN had announced a charge of N65 to be paid by bank customers when they use the ATMs of banks other than their own to ... Read More »

Boko Haram Funds Channeled Through CBN, Says Australian Hostage Negotiator

abubakar shekau

Not done yet with linking some prominent Nigerians with the sponsorship of the dreaded Boko Haram sect, an Australian negotiator has revealed that a large chunk of the finances of the terrorist organization may have been funneled through the Central Bank of Nigeria (CBN). The Australian, Dr. Stephen Davis, who ... Read More »

Reps Summon CBN Boss Over Bureau De Change Recapitalization Policy

Godwin Emefiele-Screened

The House of Representatives yesterday directed the Central Bank of Nigeria (CBN) to suspend its plan to sanitise the foreign exchange market through the policy for Bureau De Change (BDC) operators to raise their operating capital base to N35 million from N10 million. Aside the suspension directive, the House also ... Read More »

80% Of Nigerian Youths Are Unemployed – CBN Official


The Central Bank of Nigeria on Thursday brought to the front burner the issue of youth unemployment in the country as it said 80 per cent of Nigerian youths are without jobs. This is despite repeated figures released by the National Bureau of Statistics indicating that the Nigerian economy had ... Read More »

New CBN Gov. Emefiele Assumes Office


The new governor of the Central Bank of Nigeria, Godwin Emefiele, took office on Tuesday with the immediate task of protecting a weak naira. With government spending also expected to rise ahead of next year’s presidential election, the new governor will have no room to let up on monetary policy ... Read More »

Senate Confirms Emefiele As New CBN Gov, Bulkachuwa As Appeal Court President

Godwin Emefiele-Screened

The Senate on Wednesday confirmed Mr. Godwin Emefiele as Governor-Designate of the Central Bank of Nigeria, CBN, after being screened for about 2 hours. The exercise, which was broadcast live on television, saw the upper chamber of the National Assembly unanimously approve the appointment of the Zenith Bank boss as ... Read More »

Our Records Intact, Says CBN In Aftermath Of Lagos Office Fire Outbreak


Following the fire outbreak in its office in Lagos on Tuesday evening, the Central Bank of Nigeria, CBN, has assured stakeholders that the incident would not affect its business transaction. This is contained in a statement issued by Mr Isaac Okoroafor, on behalf of the CBN Director of Communications in ... Read More »

Senate Shifts Screening Of Emefiele, Nominee For CBN Gov To Tuesday


The screening of Mr Godwin Emefiele for confirmation as the new governor of the Central Bank of Nigeria (CBN) by the Senate, which was scheduled to take place on Thursday, has been postponed to next week Tuesday. Emefiele was nominated by President Goodluck Jonathan to replace suspended Sanusi Lamido Sanusi ... Read More »

PDP Demands Forensic Audit Of CBN Accounts From 2009 Till Date


The Peoples Democratic Party, PDP, has called for a thorough forensic audit of all the accounts and financial transactions of the Central Bank of Nigeria, CBN, from 2009, when Malam Sanusi Lamido Sanusi assumed duties as governor of the apex bank till date. In a statement by its National Publicity ... Read More »

NNPC, CBN Must Satisfactorily Provide Answer To Missing Money, FRC Query – Atedo Peterside


The Founder and Chairman of Stanbic-IBTC Bank, Atedo Peterside, has said the state-run Nigerian National Petroleum Corporation, NNPC, which is currently in the eye of the storm over non-remittance of funds to the Federation Account, must give adequate explanations about the alleged missing $20 billion. The Central Bank of Nigeria ... Read More »

Okonjo-Iweala Cries Out: I want the whole Truth On Alleged Missing $20bn


The Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala has demanded to know the whole truth about the purportedly missing $20 billion, which the suspended Central Bank of Nigeria Governor, Malam Sanusi Lamido Sanusi, has insisted is missing from the federation account. A statement Tuesday from her office ... Read More »