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Central Bank of Nigeria

DSS Set to Charge Suspended CBN Governor Emefiele for Alleged Illegal Firearm Possession

LAGOS, Nigeria - Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria, CBN, is set to be tried on charges of illegal...

Central Bank of Nigeria Adds Local Currency to International Money Transfer Options

ABUJA, NIGERIA — The Central Bank of Nigeria, CBN, has issued a directive to International Money Transfer Operators, IMTOs, stating that domestic beneficiaries can...

A Stand for Social Privacy: House of Reps Halts Central Bank’s Social Media KYC Push

ABUJA, Nigeria - The House of Representatives has ordered the Central Bank of Nigeria, CBN, to halt its recent directive that social media handles...

Nigeria’s Central Bank Raises Red Flag on Financial Dealings with Cameroon, Croatia, and Vietnam

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has issued a warning to commercial banks and other financial institutions about the risks of...

Nigeria’s Central Bank Sets N50,000 Daily Limit for Contactless Payments

CALABAR, Nigeria - The Central Bank of Nigeria, CBN, has established a N15,000 limit for contactless payments, with a daily cumulative limit not exceeding...

The CBN’s New Social Media Data Requirement: A Deep Dive into the Implications [MUST READ]

The Central Bank of Nigeria, CBN, has recently updated its Customer Due Diligence Regulations, making it compulsory for financial institutions to include customers' social...

Nigeria’s Central Bank Mandates Banks to Collect Customers’ Social Media Handles

ABUJA, Nigeria — The Central Bank of Nigeria, CBN, has issued a mandate for financial institutions to obtain the social media handles, email addresses,...

Nigeria’s Public Debt Mountain Climbs: DMO Sounds the Alarm at $108.3 Billion

ABUJA, Nigeria — The Debt Management Office, DMO, announced on Friday, June 23, 2023, that Nigeria’s total public debt has risen to $108.3 billion...

President Tinubu Labels Buhari’s Financial System as ‘Rotten’ in Comments on Emefiele

PARIS, France — Nigerian President Bola Tinubu made his first public remarks regarding the suspended Governor of the Central Bank of Nigeria, CBN, Godwin...

Nigeria’s Central Bank Directs Banks to Lift $10,000 Restrictions on Domiciliary Accounts

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has directed all banks to allow customers unrestricted access to their domiciliary account funds. As per...

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