central bank of nigeria

The Central Bank of Nigeria (CBN) has developed guidance on anti-money laundering/combating the financing of terrorism (AML/CFT) for other financial institutions (OFIs). In a circular signed by Chibuzo Efobi, director, financial policy and regulation department, this is to assist the sub-sector in the identification, assessment, as well as mitigation of money laundering and terrorist financing […]

The Federal Government of Nigeria has recorded a N2.23tn fiscal deficit in the fourth quarter of 2021. This was revealed by figures obtained from the Central Bank of Nigeria’s (CBN) economic report for the fourth quarter of 2021. The report stated, “Federation receipts in the fourth quarter of 2021 declined, following shortfalls in oil revenue. At N2.84tn, provisional […]

The Central Bank of Nigeria(CBN) through its Financial Services Regulation Coordinating Committee (FSRCC) has advised Nigerians to stop dealing with unlicensed or illegal financial operators in the country. The CBN through FSRCC gave the advice in a statement posted on its website on Monday. It is said that the illegal financial operators lure and defraud […]

The Central Bank of Nigeria has expressed concern over the increasing amount of mutilated banknotes deposited with the apex bank by Deposit Money Banks. To this end, the CBN has warned banks to stop including composed currency notes in their deposits or risk paying a penalty of 400 per cent of the value of the […]


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