The High Court of Justice in the Federal Capital Territory (FCT) has ordered the immediate and unconditional release of the immediate-past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. Justice O.A. Adeniyi made the order after Emefiele filed a Motion Ex-parte, seeking his release from the custody of the Economic and Financial…
The Central Bank of Nigeria (CBN) has stated that Nigerians aspiring to secure admission to foreign universities spent about $340.84 million on application fees between January and June 2023. The figure marked a notable fall of 44.28 percent when compared to the previous quarter. According to the data, which detailed records on expenditure for educational…
The Central Bank of Nigeria has been discovered to release audited financial account reports (spanning 2016 to 2022) which alleged contained inaccurate and false data. The CBN may therefore be asked to withdraw those audited annual financial reports, under former President Muhammadu Buhari, which were released only last month. This came after a team investigating…
Nigeria’s Central Bank Notifies Banks About Arrest Of Nigerian, 4 Foreigners Over $1Billion Counterfeit Money The Central Bank of Nigeria (CBN) has alerted banks and other financial institutions of the arrest of a Nigerian and four others over their alleged involvement in currency counterfeiting amounting to $1 billion. The apex bank noted that…
The Central Bank of Nigeria (CBN) has launched a go-live foreign exchange price verification system portal. The apex bank made this known in a statement titled “Go-live of the Central Bank of Nigeria Price Verification System Portal” and released by the bank’s Director of Trade and Exchange Department, Mr. O. S. Nnaji. …
President Bola Ahmed Tinubu has appointed a Special Investigator to probe the Central Bank of Nigeria (CBN) and key Government Business Entities (GBEs). This is coming as the suspended Governor of the apex bank, Godwin Emefiele is been detained at the office of the Department of State Services (DSS), Naija News reports. In a letter obtained by journalists on Sunday, President…
What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)? See the black market Dollar to Naira exchange rate for 26th July below. You can swap your dollar for Naira at these rates. ADVERTISEMENT How much is a dollar to naira today in…
Banks have been directed by the Central Bank of Nigeria to vacate a post-no-debit restriction placed on the bank accounts of 440 individuals and companies. This is coming two years after the apex bank instructed banks to freeze accounts of 18 companies, ranging from bureaux de change (BDCs), construction firms, investment companies, laundering services,…
The Central Bank of Nigeria (CBN) has directed International Money Transfer Operators (IMTOs) to commence remittances pay-out in both Naira and foreign exchange to beneficiaries. The apex bank said the Investors and Exporters’ (I&E) window foreign exchange rate should be used in determining the exchange rate for Naira pay-outs. CBN’s Director of Trade and Exchange…
The Central Bank of Nigeria (CBN) has set a N50,000 limit for contactless payments (payments made without physical contact between a payment device, such as pre-paid, debit, and credit cards, key fobs, mobile electronic devices, and wearable devices). Musa Jimoh, CBN’s Director of Payments System Management Department, said the decision was taken due to the…
