The Central Bank of Nigeria (CBN)has directed all banks and other financial institutions to obtain the social media handles, residential addresses, and Bank Verification Numbers (BVN) of their customers. Truetells Nigeria reports that the apex bank also mandated the financial institutions to get e-mail addresses, telephone numbers, places of birth, and other vital information of…
The Central Bank of Nigeria (CBN) has given commercial banks and dealers in the forex market the green light to sell forex freely at market-determined rates, it was learnt on Wednesday. The development is coming barely five days after the suspension of Godwin Emefiele as the Central Bank Governor. It was learnt that trades are…
Folashodun Adebisi Shonubi has been named acting governor of the Central Bank of Nigeria (CBN), holding a significant position in the financial system of the nation. Shonubi, who was born on March 7, 1962, is a seasoned professional. From 1978 to 1983, he completed his undergraduate education at the University of Lagos, earning a Bachelor…
The Central Bank of Nigeria has revoked the licences of 179 microfinance banks in the country, as well as four primary mortgage banks and three finance companies. This was disclosed in the official gazette of the Federal Government, which was published on the website of the CBN on Tuesday. The gazette said that the licences…
CBN has slammed Sterling Bank N218 Million fine for unfair contract Terms, among other offenses. Truetells Nigeria reports that the Central Bank of Nigeria (CBN) fined Sterling Bank N218 million for shutting down two branches without approval, amongst other contraventions. This online newspaper learnt that Sterling Bank was sanctioned for the…
CBN is set to close millions of Bank Accounts in Nigeria over lack of BVN linkage. Truetells Nigeria reports that the Central Bank of Nigeria (CBN) has recently made an announcement to address the increasing incidents of fraud in the financial sector. As part of their efforts to combat this problem, the CBN…
CBN has cleared the air on suspending OPAY and PALMPAY Accounts. Truetells Nigeria reports that the Central Bank of Nigeria (CBN) has made a clarification on viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY. The apex bank refuted the reports, describing it as fake news. According…
Latest CBN news update on New Naira Notes today, 2 March 2023, can be accessed below. Following the Naira Scarcity in Nigeria, Truetells Nigeria has compiled the latest news on new Naira notes. This means the latest updates on the Naira crisis in Nigeria can be accessed on this page. Below are the latest CBN news update on new Naira…
The Independent National Electoral Commission (INEC) has received cash from the Central Bank of Nigeria (CBN) for election logistics. Daily Trust reported that this was confirmed by an INEC national commissioner on Tuesday night, February 21. The INEC national commissioner said branch controllers of the CBN have been instructed to disburse the funds to…
The Central Bank of Nigeria (CBN) has issued a statement threatening to arrest, investigate and prosecute people spreading fake circulars purportedly from the apex bank. The bank’s statement was coming a few hours after the wife of the Nigerian President, Aisha Buhari, shared a fake circular from the CBN in which the apex bank ordered…
