CBN
The Supreme Court on Wednesday ordered that the old N200, N500, N1000 notes should continue to co-exist with the new notes till further notice. The Supreme Court has decreed that both the old and new currency notes will retain their status as legal tender until the Federal Government establishes a comprehensive process for their replacement […]
Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has instructed deposit money banks (DMBs) to refrain from using profits generated through the revaluation of the naira for dividend payouts or operational funding. CBN said a review of the foreign exchange (FX) regime change showed the banks are in a position to profit from the […]
President Bola Tinubu has appointed Jim Obazee as a Special Investigator to probe the activities of the Central Bank of Nigeria and other related entities. In a letter dated 28 July, seen by PREMIUM TIMES, Mr Tinubu said the appointment of Mr Obazee, relying on the fundamental objective set forth in Section 15(5) of the […]
The Central Bank of Nigeria (CBN), yesterday ordered banks to vacate a Post-No-Debit (PND) restriction earlier imposed on bank accounts of 440 individuals and companies. This was just as the CBN yesterday communicated to banks that it would resume the enforcement of the Loan-to-Deposit Ratio (LDR) policy effective July 31, 2023. However, citing key policy […]
A federal high court in Lagos has granted bail to Godwin Emefiele, suspended governor of the Central Bank of Nigeria (CBN), in the sum of N20 million. In a ruling on Tuesday, Nicholas Oweibo, the presiding judge, said the charges against Emefiele are bailable. The bail was granted with one surety in like sum. Earlier, […]
A High Court in Abuja has nullified the arrest, detention and interrogation of the Suspended Central Bank Governor (CBN), Godwin Emefiele, by the Department of State Services (DSS). This is coming barely 24 hours after a Federal Capital Territory (FCT), Abuja, delivered a related judgement on the matter. In a judgment upon an Originating Motion […]
The House of Representatives has made a request to the Central Bank of Nigeria (CBN) to temporarily suspend the implementation of the directive instructing banks to collect and verify customers’ social media handles. This decision was reached during the plenary session on Tuesday following the approval of a motion sponsored by nine lawmakers. The motion […]
-
Pages
