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CBN Withdraws Bailout Funds Of States Playing Politics With Money


The Central Bank Of Nigeria has taken a tough stance against state governors playing politics with the Bailout Fund, as it has decided to withdraw their allocations. The CBN Governor, Mr. Godwin Emefiele, disclosed this while briefing journalists on the outcome of the Monetary Policy Committee, MPC meeting in Abuja, ... Read More »

APC Reveals The Real Reason CBN’s Withholding Kogi Bailout Funds


The All Progressives Congress (APC) has described as cheap blackmail, the decision by the Kogi State government and the Peoples Democratic Party, PDP Governors’ Forum to blame political interference for the delay in releasing bailout funds for the state. The PDP Governors Forum had last Friday, through its coordinator, Mr. ... Read More »

PDP Govs Warn CBN Against Playing Politics With Bailout Funds

Olusegun Mimiko

Governors of the Peoples Democratic Party (PDP) have warned the Central Bank of Nigeria (CBN) against partisanship in the disbursement of bailout funds to beneficiary states. The warning follows allegations by the opposition party that the CBN has become a tool in the hands of the governing All Progressives Congress ... Read More »

NLC, TUC Orders Kogi Workers To Stay At Home Over Non-Release Of Bailout Fund

Idris Wada

Public service workers in Kogi State have been directed to stay off work today to protest the non-release of bailout funds by the Central Bank of Nigeria. The directive was contained in a statement issued by the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), in Lokoja on ... Read More »

CBN Rejects Sanusi’s Advice To Devalue The Naira, Thanks Him For The Advice

naira dollar

The Central Bank of Nigeria (CBN) yesterday dismissed the call for further devaluation by the Emir of Kano and immediate past Governor of the bank, Muhammad Sanusi II, saying there would be no further devaluation of the naira. The emir on Friday had faulted the decision of the apex bank ... Read More »

Ekiti APC Accuses Fayose Of Mismanaging Bailout Funds


The All Progressives Congress (APC) in Ekiti State has accused Governor Ayo Fayose of mismanaging the bailout funds received from the Central Bank of Nigeria (CBN). The party asked Governor Fayose to give account of how the bailout funds had been spent. But the Peoples Democratic Party (PDP) responded by ... Read More »

Why Bayelsa Won’t Withdraw Share Of FG Bailout Funds – Dickson


Bayelsa State government says it will not draw its share of the N222 billion approved by the Central Bank of Nigeria (CBN) for states to clear outstanding workers’ salaries. The News Agency of Nigeria (NAN) reported that CBN has approved N12.85 billion for the state. So far, only 19 states ... Read More »

FG Exempts NNPC, PHCN, 11 Others From TSA


The Federal Government has excluded 13 government agencies from the current Treasury Single Account (TSA) arrangement related to electronic or e-collection and mop up exercise of government funds from commercial banks. A circular exempting the agencies was communicated to the Central Bank of Nigeria (CBN) from the Office of the ... Read More »

Comply With Treasury Single Account Directive Or Face Sanction – Buhari Tells MDAs


President Muhammadu Buhari has given a deadline of Tuesday, September 15 for full compliance with his directive that all revenue due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the Central Bank of ... Read More »

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 »