The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has projected that Nigeria’s creative sector could generate up to $25 billion, following the completion of the National Arts Theater (NAT) upgrade. This historic edifice, refurbished by the Bankers Committee, is expected to serve as a major catalyst for economic growth through the creative […]
The Central Bank of Nigeria (CBN) has officially appointed 16 new directors to oversee critical departments, effective March 3. This strategic move aims to enhance the bank’s regulatory, supervisory, and policy-driven functions, ensuring improved efficiency in the nation’s financial system. CBN’s Newly Appointed Directors and Their Departments The newly appointed directors and their respective departments […]
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SERAP Files Lawsuit Against CBN Over Controversial ATM Fee Increase The Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Central Bank of Nigeria (CBN), seeking to halt the implementation of what it describes as an unlawful and unreasonable increase in ATM transaction fees. CBN’s New ATM Fee Policy Sparks Outrage The […]
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Central banks play a pivotal role in stabilizing a nation’s currency and economy through the implementation of monetary policies. However, their actions are often misunderstood, especially during times of economic challenges. According to PwC, it is crucial for central banks to communicate their objectives clearly and effectively to foster a proper understanding and positive public […]
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Discover how the Trade Ministry and CBN are collaborating to create a favorable export environment for manufacturers in Nigeria, fostering economic growth through strategic policies. Boosting Exports: Trade Ministry and CBN Collaborate to Empower Local Manufacturers The Ministry of Industry, Trade, and Investment has unveiled efforts to strengthen collaboration with the Central Bank of Nigeria […]
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The Central Bank of Nigeria (CBN) has introduced a controversial policy, imposing a daily withdrawal limit of ₦100,000 for individuals using Point-of-Sale (PoS) services. This restriction extends to a weekly cash-out cap of ₦500,000 per customer and a cumulative daily maximum of ₦1.2 million for agent transactions. This directive, issued in a circular titled “Cash-out […]
