News

CBN’s Strategic Shift: A Review Of The 2024 Financial Performance

DailyTimesNGR DailyTimesNGR 4 May 2025 0

By Isah Aliyu Chiroma The Central Bank of Nigeria’s (CBN) financial statements for the year 2024 have generated significant interest, not only among financial analysts and economists but also among regular citizens keen on understanding the country’s economic trajectory. These statements

Business

CBN declares rise in banks reserves, drop in currency circulation

DailyTimesNGR DailyTimesNGR 23 April 2025 0

By Tunde Opalana The Central Bank of Nigeria CBN has declared about N900 billion rise in banks reserves at the end of March , 2025. In a most recent report, the apex bank declared N28.5 trillion at the end of March, as reserves kept in its custody by banks. Banks reserves has been on the […]

Business

FG revenue slumps to N1.94trn, says CBN

DailyTimesNGR DailyTimesNGR 22 April 2025 0

BY TEMITOPE ADEBAYO Nigeria’s Federal Government revenue plunged to N1.94 trillion at the end of January 2025, marking a steep 31 per cent decline from December figures, according to the Central Bank of Nigeria CBN. The drop, driven by weak oil and non-oil earnings, has widened the country’s fiscal deficit and fallen significantly short of […]

News

CBN Bets On eNaira Revival Despite Waning Public Interest

DailyTimesNGR DailyTimesNGR 21 April 2025 0

BY BUKOLA ARO-LAMBO Over three years after it was first launched, the Central Bank of Nigeria(CBN) is planning a comeback for its Central Bank Digital Currency (CBDC), the e-naira, a project that has since lost steam for many Nigerians as 98 per cent of the eNaira wallets already inactive. Nigeria had been among the few […]

Business

CBN Governor to Lead ICSAN fundraiser for n3.8bn secretariat

DailyTimesNGR DailyTimesNGR 12 April 2025 0

BY TEMITOPE ADEBAYO The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) said, the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will chair its secretariat fundraising event. According to the president of the institute, Mrs Funmi Ekundayo, the event is scheduled to take place on April 14 in Abuja, the initiative […]

Business

CBN injects $197.71m into FX market as global shocks hit naira

DailyTimesNGR DailyTimesNGR 6 April 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has stepped in with a $197.71 million intervention to stabilise the foreign exchange market amid global shocks that have unsettled emerging and developing economies, including Nigeria. In a statement signed by the Director of Financial Markets Department, Dr Omolara Omotunde Duke, the apex bank disclosed that […]

Business

CBN debunks fake reports on introduction of ₦5,000, ₦10,000 banknotes

DailyTimesNGR DailyTimesNGR 3 April 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has dismissed as false the viral reports claiming it has introduced new ₦5,000 and ₦10,000 banknotes, warning the public against spreading misinformation. The fake report, which surfaced online, alleged that the CBN had launched the high denomination notes to enhance cash transactions and reduce handling costs, […]

Business

CBN’s recruitment of 16 directors: A break from the norm

DailyTimesNGR DailyTimesNGR 10 March 2025 0

The central bank CBN, of any country is a uniquely influential institution. Due to its mandate of maintaining monetary and financial stability in line with the economic vision of the government, everything it does can impact everyone. That is why PhD. economists and experienced bankers are the top picks for heading the banks. This is […]

News

Ways and Means: Senate blames CBN for frustrating efforts

DailyTimesNGR DailyTimesNGR 26 February 2025 0

By Patrick Wemambu The Senate Ad-hoc Committee investigating Ways and Means facility granted to the federal government between 2015 to 2023 has taken a swipe at the Central Bank of Nigeria for frustrating its efforts to uncover how the loans were spent. Speaking after receiving an interim report from its consultants at meeting on Tuesday, […]

Economy

27.5% Monetary policy rate adjustable – CBN

DailyTimesNGR DailyTimesNGR 21 February 2025 0

By Tunde Opalana The Central Bank of Nigeria’s (CBN) has raised the hope that the 27.5% Monetary Policy Rate (MPR) recently declared is adjustable. Though the CBN Monetary Policy Committee (MPC) insisted it will hold all key rates steady as it monitors inflation and exchange rate dynamics. The MPC has signaled that it will “remain […]

Business

CBN insists banks, others must publish details of dormant account

Ihesiulo Grace 20 February 2025 0

BY BABATUNDE OPALANA The Central Bank of Nigeria (CBN) insisted that banks and other financial institutions in the country must publish the names of individuals whose bank accounts have gone dormant on their websites and national newspapers in line with the Guidelines on Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks […]

Business

ABCON congratulates FG, CBN over measures to strengthen Naira

DailyTimesNGR DailyTimesNGR 17 February 2025 0

…as market closed between N1540/$1 and N1545/$1 on Friday. By Tunde Opalana The Federal Government through the strict monetary policy of the Central Bank of Nigeria CBN, has been commended for measures put in place to stem the downward slide of the Naira against major international currencies, particularly the American Dollar. The apex bank in […]

Business

CBN waives 2025 licence renewal fee for BDC operators

DailyTimesNGR DailyTimesNGR 28 January 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has waived the 2025 licence renewal fee for all existing Bureau De Change (BDC) operators, with immediate effect. This decision is part of the ongoing implementation of the regulatory and supervisory guidelines for bureau de change operations in nigeria, 2024, and the transition to a revised […]

Features

Leading Nigerian economic reform; reflecting on CBN successes

DailyTimesNGR DailyTimesNGR 16 January 2025 0

By Isah Aliyu Chiroma In 2024, the Central Bank of Nigeria (CBN) experienced a pivotal transformation under the innovative leadership of Governor Yemi Cardoso. Faced with a myriad of economic challenges that have hindered growth and stability for years, Governor Cardoso introduced a series of comprehensive reforms designed to rejuvenate Nigeria’s economy, stabilize

Money

CBN suspends extension of export proceeds repatriation

DailyTimesNGR DailyTimesNGR 12 January 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) said, it has suspended the extension of approvals for the extension of export proceeds repatriation on behalf of exporters, taking effect from Wednesday, January 8, 2025. The suspension was announced in a circular dated January 8, 2025, issued on the website of the apex bank on […]

Headlines

Retrenched CBN staff ask court to award N30bn compensation

DailyTimesNGR DailyTimesNGR 8 January 2025 0

BY ANDREW OROLUA Thirty three staff members of the Central Bank of Nigeria (CBN), who were among 1000 staff relieved of their jobs in a mass layoff last year have dragged the bank before the National Industrial Court of Nigeria in Abuja asking for N30bn compensation. In an originating summons, filed on July 4, 2024, […]

News

CBN staff voluntarily left service with benefits, Gov insists

DailyTimesNGR DailyTimesNGR 3 January 2025 0

By Tom Okpe Governor, Central Bank of Nigeria, CBN, Olayemi Cardoso has said staff of the bank who left in December, resigned voluntarily, with full payment of benefits. He reiterated that the 1,000 members of staff, disengaged were not forced to quit. Cardoso made this disclosure in Abuja on Friday, during resumed investigative hearing to […]

Headlines

Despite CBN’s cashless Policy, currency in circulation soars to N4.8trn

DailyTimesNGR DailyTimesNGR 31 December 2024 0

..As Nigerians struggle with Cashless Economy BY TEMITOPE ADEBAYO Despite the Central Bank of Nigeria’s (CBN) cashless policy, which has been in place for over a decade, currency in circulation has surprisingly surged to N4.8 trillion. Contrary to the policy’s aim, the cash outside the banking system rose significantly by 41 per cent to N4.87 […]

Money

CBN, NCC enforce N250bn USSD debt repayment amid declining usage

DailyTimesNGR DailyTimesNGR 25 December 2024 0

BY MOTOLANI OSENI The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have mandated banks to clear a cumulative N250 billion debts owed to telecom operators for Unstructured Supplementary Service Data (USSD) services, setting strict timelines for compliance. This directive comes as USSD usage for financial transactions sees a steep decline,

Money

CBN’s N100,000 withdrawal limit sparks concern among POS operators

DailyTimesNGR DailyTimesNGR 21 December 2024 0

The Central Bank of Nigeria’s (CBN) recent directive imposing a N100,000 daily withdrawal limit for individuals has elicited strong reactions from Point-of-Sale (POS) operators nationwide. While the policy aims to drive a cashless economy and combat illicit financial activities, many operators view it as a threat to their businesses, especially during the bustling Yuletide