CBN

The Central Bank of Nigeria has announced a comprehensive revision of cash-related policies, introducing new nationwide withdrawal limits and scrapping the cumulative deposit cap for bank customers. In the circular signed by the…
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The Central Bank of Nigeria has disowned Zuldal Microfinance Bank Limited, describing it as an unlicensed entity operating illegally in the country. In a statement shared on X on Thursday, the Acting Director of Corporate Communications,…
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The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s interest rate to 27.00 per cent for the first time in 2025. The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing on Tuesday…
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The Central Bank of Nigeria (CBN) has disowned a circular claiming it has introduced two new denominations—N5,000 and N10,000 notes. The apex bank described the circular as “fake” in a statement via its official handle on X (formerly…
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The Central Bank of Nigeria has threatened to penalise banks that compel customers to withdraw amounts lower than N20,000 per transaction from Automated Teller Machines. The apex bank disclosed this in a ‘Question and Answer’ explainer…
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The Central Bank of Nigeria (CBN) says charges will now apply anytime customers use the Automated Teller Machines (ATMs) of banks other than theirs. This was contained in a circular dated February 10, 2025, and addressed to all banks and…
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In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria (CBN) has sanctioned Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the…
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The Central Bank of Nigeria has announced a fine of ₦150 million on Deposit Money Banks found guilty of giving out illegal flow of mint naira notes to currency hawkers across the country. The move was after the apex bank addressed recent…
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In its bid to ensure that Nigerians have easy access to cash via Over-The-Counter withdrawals or Automated Teller Machines of Deposit Money Banks, the Central Bank of Nigeria has released a directory containing the contact details and email…
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Reports that the former series of N200, N500, and N1,000 banknotes will no longer be accepted as legal money by December 31, 2024, have been refuted by the Central Bank of Nigeria. The CBN stated in a statement issued Thursday by Sidi…
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