You’d go to jail and pay a fine of N50K if you spray Naira at parties

Mobile courts are now to summarily try those bastardising the national currency, the naira, the Bankers Committee said on Thursday.

MTN kicks against $8.1bn demand, says all dividends were approved by CBN

MTN Nigeria says all dividends it paid to its shareholders between 2007 and 2015 were approved by the Central Bank of Nigeria (CBN).

The telco was reacting to the claim by the central bank that it illegally converted shareholder loans to preference share and repatriated $8.1 billion as dividends during the period under scrutiny.

CBN gives incentives to importers using Chinese Yuan

The Central Bank of Nigeria (CBN), has come up with fresh incentives for importers as it seeks to replace the use of Dollars with the Yuan as the currency of importation from China. It has also assured Nigerians that it has enough arsenals to defend the Naira.

CBN injects $210m into forex market

The Central Bank of Nigeria (CBN) yesterday further intervened in the forex market by supplying the inter-bank foreign exchange market with the sum of $210 million.

BREAKING NEWS: CBN Headquaters on Fire (Video)

So pathetic! The CBN Headquarters in Abjua is on fire.

CBN retains monetary policy rate at 14%

The Monetary Policy Committee of the Central Bank of Nigeria on Wednesday left the Monetary Policy Rate unchanged at 14 per cent.

CBN Extends Stamp Duty Collection To Savings Accounts

Banks are no longer restricting the deduction of stamp duty on deposits made into current accounts, but now apply it to deposits made into savings accounts, investigation has shown.

The Central Bank of Nigeria had through a circular issued on January 15, 2016 directed the Deposit Money Banks to deduct N50 stamp duty on each

CBN to Jail Person in Possession of Foreign Currency for More than 30 Days, Faces 2 Years

 
In a document titled “Working Paper” shared to members of the Chartered Institute of Bankers of Nigeria (CIBN), the Central Bank of Nigeria (CBN) is seeking powers to amend the Foreign Exchange, Monitoring

Banks Set To Ban 14.6 million Customers

Come Wednesday July 1, 2015, Deposit Money Banks will start denying about 14.6 million customers access to banking services.

The Bankers’ Committee of the Central Bank of Nigeria (CBN) attributed it to their failure to obtain the compulsory Bank Verification Numbers (BVNs).

The BVN initiative which commenced in February 2014 obliges customers to do biometric registration and obtain BVN; a unique number for proper identification.

This will also help banks identify customers through their fingerprints. Each bank customer’s fingerprint is linked to a unique number.