The amount of money borrowed by the Federal Government from the Central Bank of Nigeria through Ways and Means Advances rose from N17.46tn in December 2021 to N19.91tn in June 2022. Data from CBN shows that FG borrowed N2.45tn from the apex bank in a space of six months. The N19.91tn owed the apex bank by the Federal Government…
Tired of Stanbic IBTC Bank? Stanbic IBTC Bank to CBN can be accessed below. Truetells Nigeria has obtained how Stanbic IBTC Bank costumers who are tired of Stanbic IBTC Bank can report Citibank to CBN over excess charges, unapproved debts, account freezes, and other bank account-related issues with their banks. This online news platform understands that bank customers may become…
Fire guts Central Bank of Nigeria CBN on Thursday. The Central Bank of Nigeria (CBN) branch in Benue State, located in Makurdi, the state capital, has been gutted by fire. The fire started around 7am on Thursday while several staff members were yet to resume duties. It was gathered that no one was allowed…
CBN has fined FCMB N400 Million and Fidelity Bank N14.28 Million for Facilitating illegal crypto businesses in Nigeria. Truetells Nigeria reports that the Central Bank of Nigeria has fined First City Monument Bank (FCMB), Fidelity Bank Plc and one other commercial bank a whopping N514 million. This online news outlet understands that the fine was…
The Central Bank of Nigeria (CBN), has warned Deposit Money Banks (DMBs) to stop bringing mutilated banknotes as part of their deposits with the apex bank. In a circular issued in Abuja by Ahmed Umar, the Director, Currency Operations Department of CBN, the apex bank said the warning took effect from April 1. Composed banknotes…
The Association of Bureau De Change Operators of Nigeria, ABCON, has stated its readiness to go through the Central Bank of Nigeria, CBN, reforms in terms of reforming operations of the BDCs where necessary. Truetells Nigeria reports that the Association called for training, retraining, awareness and sensitization of Bureau De Change Operators in Nigeria…
The Central Bank of Nigeria has announced that it would stop the sale of foreign exchange to banks by the end of the year. Truetells Nigeria reports that the CBN Governor, Godwin Emefiele made the announcement at a briefing during the launch of the apex bank’s new forex repatriation scheme, RT200, held after the Banker’s…
CBN has removed ATM maintenance fee, the apex bank also reduced other bank charges. Truetells Nigeria reports that the Central Bank of Nigeria (CBN) led by Godwin Emefiele, has reviewed charges and rates for banking activities in the country. This online news platform understands that the development was disclosed in the CBN new ‘Guide to Charges by Banks Other Financial…
CBN is in battle to save naira with external reserves losing $610m. Truetells Nigeria reports that Nigeria’s external reserves fell by $610m last month, figures obtained from the Central Bank of Nigeria revealed on Thursday, November 2. This online news platform understands that Nigeria external reserves dropped to N$41.22bn as of November 29 from $41.83bn on October 29. …
The Central Bank of Nigeria (CBN) has appointed eight new departmental directors to man specific aspects of its operations. The appointments were confirmed in a statement on Wednesday, 1st September 2021 which noted that all the appointments are effective from August 25, 2021. Those appointed and their respective departments are Mr. Osita Nwanisobi who was confirmed as the…
