central bank of Nigeria

Naira crashes to ₦1,740/$1 as experts warn of currency crisis

Naira crashes to ₦1,740/$1 as experts warn of currency crisis

Experts are raising alarms as Nigeria's currency, the Naira, continues to decline, with the exchange rate soaring to ₦1,740/$1 in…

2 months ago

Nigerian banks report 23.3 million account closures in july

In July 2024, commercial and merchant banks closed 23.3 million customer accounts. This marks a 0.56% month-on-month increase from the…

3 months ago

Naira crashes after CBN’s fifth interest rate hike to 27.25%

The naira experienced a significant decline against the dollar in the foreign exchange market following the Central Bank of Nigeria's…

3 months ago

Court hears EFCC’s case for permanent forfeiture of Emefiele’s alleged $2.045m assets

The Economic and Financial Crimes Commission (EFCC) informed a federal high court in Lagos that no individual has come forward…

3 months ago

CBN approves $20,000 allocation to eligible BDC operators at N1,580 rate

The Central Bank of Nigeria (CBN) has authorized the sale of $20,000 to each Bureau De Change (BDC) operator at…

4 months ago

BREAKING: Naira crashes massively against dollar at official, black market

The naira fell against the dollar in both official and parallel foreign exchange markets, ending the week on a low…

4 months ago

Emefiele printed N684.5m using N18.9bn – EFCC alleges

The Economic and Financial Crimes Commission (EFCC) has lodged a fresh charge at the High Court of the Federal Capital…

8 months ago

BREAKING: CBN increases weekly cash withdrawal limits to N500,000

The Central Bank of Nigeria has increased the maximum weekly limit for cash withdrawals across all channels by individuals and…

2 years ago

Five things you should know about naira redesign

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has announced that the N200, N500 and N1000 notes would…

2 years ago