The Nigeria deposit insurance corporation (NDIC) will begin making payments to customers of the defunct Heritage bank on Monday.
The NDIC say depositors with less than ₦5 million will begin receiving payments next week while those above the said sum will...
The central bank of Nigeria (CBN) announced it has revoked the operating license of Heritage bank with immediate effect following what it described as the bank’s poor financial performance.
In a statement signed and released by the apex bank’s acting...
Following a two-day meeting of the bank’s monetary policy committee (MPC), the central bank of Nigeria (CBN) has raised the interest rate by 150 basis points, to 26.25% from 24.75%. The apex bank’s policy making body agreed to raise...
The central bank of Nigeria has finally retracted its directive asking banks and payment service providers to collect and remit the cybersecurity levy as outlined in the cybercrime prevention and prohibition amendment act of 2024, days after the federal...
The governor of the central bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides, keeping with the policy of implementing orthodox policies.
Cardoso who was speaking in a recent...
The Nigerian house of representatives, on Thursday, passed a motion directing the central bank of Nigeria (CBN) to stop and alter the planned execution of the cybersecurity levy.
The motion was raised by the minority leader in the house, Honourable...
The trade union congress (TUC) has threatened a massive protest that will shut down the Nigerian economy should the federal government fail to cancel the controversial cybersecurity levy recently introduced by the central bank of Nigeria.
The TUC in a...
The economic and financial crimes commission (EFCC) has filed a fresh charge at the high court of the federal capital territory (FCT) against the embattled former governor of the central bank of Nigeria (CBN), Godwin Emefiele.
EFCC in the charge...
The central bank of Nigeria (CBN) has communicated in another circular to bureau de change (BDC) operators in the country, notifying them of direct sales of US dollars at a discounted rate of ₦1,021 per dollar.
The decision by the...
Justice Rahman Oshodi of an Ikeja special offences court has granted the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail.
Emefiele had been dragged before the court on a 26-count charge bordering on alleged abuse...
