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Tag Archives: CBN

March, 2024

  • 29 March

    Merger looms in Nigeria banking Sector

    It is expected, in view of the new capital base regulations. It happened before.The 2004 banking reform was characterised by massive mergers and acquisition activities, ultimately reducing the number of banks in the country from 89 to 25. There are already indications that Deposit Money Banks’ chief executive officers and other top executives had begun moves to raise fresh capital ...

February, 2024

  • 10 February

    Cardoso says efforts to stabilize Naira yields early results

    The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the apex bank is leaving no stone unturned to stabilize the economy He is also thumbing his chest and says, the efforts are beginning to yield results. “Among other thingswe have also halted quasi-fiscal measures of over N10tn by the Central Bank of Nigeria under the guise ...

January, 2024

  • 26 January

    CBN, FAAN Relocation: North threatens Tinubu

    Indications have emerged that the North in Nigeria is taking a position on moving part of CBN and FAAN to South ,from North. YOUNEWS is aware that they have cautioned Tinubu to reconsider the decision or face the risk of losing support in the 2027 elections. One of the strong voices in the north, The Katsina Elders’ Forum has vehemently ...

  • 15 January

    Knocks on CBN gov for decongesting headqtr

    Moving Departments Of CBN To Lagos, had been termed Politically Motivated and drawing the hands of the clock backwards A civil rights advocacy group on the aegis of Human Rights Writers Association of Nigeria (HURIWA) kicked against the plan by the new governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso to transfer some departments of the banking ...

  • 2 January

    Knocks on Tinubu’s Special investigator, Obazee as bias !

    Special Investigator to the CBN, Jim Obazee has been accused of bias. Sources in Central Bank of Nigeria, CBN are complaining that he is not following the ehics of auditor,not that of an investigator. “He neither interviewed nor contacted them for their input into the investigation before recommending them for prosecution” YOUNEWS gathered. President Bola Tinubu had, on July 28, ...

December, 2023

  • 11 December

    CBN explains Naira Scarcity

    The Central Bank of Nigeria (CBN) has explained the reasons behind scarcity of naira notes in the country. This comes following a series of complaints by some bank customers on the scarcity of naira notes at the counters, Automated Teller Machines (ATMs), Points of Sale (PoS), and Bureaux de Change (BDCs). In a statement issued by the Corporate Communications Department ...

June, 2023

  • 2 June

    News Outlet insists CBN has Devalued Naira…see details

    One of Nigeria’s national newspapers, Daily Trust, has replied the Central Bank of Nigeria (CBN) over the cover page story of Thursday, June 1, 2023. The newspaper had reported how the apex bank devalued the Naira to N631 to the dollar from N461.6 it sold at the Importers and Exporters (I&E) window the previous day. Some bank customers had told ...

January, 2023

  • 1 January

    CBN under pressure to extend new Naira note deadline to June 30th

    The Senate is mounting pressure on the Central Bank of Nigeria, CBN to as a matter of urgency extend the date of Withdrawal of old currency from circulation from 31st January to June 31st 2023. The resolution of the Senate was sequel to a motion titled, ” Urgent need to extend the withdrawal of old currency from circulation” and sponsored ...

December, 2022

  • 15 December

    New naira enters today ! Don’t forget Jan 31 deadline !

    The newly redesigned naira notes will go into circulation today Thursday ,December 15,2022. You may get the new note, or it may still be old note that you would receive. It all depends Deposit Money Banks is set to release the bills to their customers via over-the-counter payments. This came about three weeks after the President, Muhammadu Buhari , unveiled ...

  • 8 December

    Opinion :The New CBN Policy the Talibanisation of the Polical Economy

    By Adewale Adeoye The CBN says you can’t take more than 20k out of your own money in one day. Corporate groups that want to buy a fridge urgently wont be able to do so if they would need up to 500k cash to do so and it there are Internet hitches. They need to wait for days. I’m for ...