By Frank Ulom ABUJA (CONVERSEER) – The Central Bank of Nigeria, CBN, has debunked a claim that Polaris Bank is undergoing a liquidation process for not being able to comply with Nigeria’s recapitalisation deadline. In an X (Twitter) post on Thursday evening, the apex bank quickly labelled the claim as fake, reassuring everyone that the…
By Frank Ulom ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has revised its regulatory framework on dormant bank accounts, removing the requirement for affidavits in account reactivation, while introducing stricter controls across digital banking and identity verification systems. The changes were contained in a series of circulars dated March 12, 2026, and issued…
By Our Reporter ABUJA (CONVERSEER) – Nigeria’s Central Bank started 2026 with a careful step, cutting the key interest rate to 26.5 per cent while keeping other measures like the Cash Reserve Ratio and liquidity steady – a sign of cautious steering of the financial system. Governor Olayemi Cardoso pointed to falling inflation, stronger banks,…
By Joe Udo ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has projected that Premium Motor Spirit (PMS), also known as petrol, could rise to around N950 per litre in 2026. The forecast is based on an average crude oil price of $55 per barrel, domestic crude production of 1.5 million barrels per day,…
By Joe Udo ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has revoked the operational licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc. A statement by Acting Director Corporate Communications of the bank, Hakama Sidi Ali, on Tuesday, said the action, taken under BOFIA 2020 and the Revised…
By Joe Udo ABUJA (CONVERSEER) – Nigeria’s Central Bank Governor, Olayemi Cardoso, has met with his Brazilian counterpart, Gabriel Muricca Galípolo, to strengthen economic and financial cooperation between the two countries. The engagement took place during President Bola Ahmed Tinubu’s state visit to Brazil and was part of a broader working mission by the Central…
ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Interbank Settlement System (NIBSS), has unveiled a new digital platform that allows Nigerians living abroad to obtain their Bank Verification Number (BVN) remotely. The move is aimed at enhancing financial inclusion and increasing diaspora remittances to an ambitious target of $1…
Abuja, Nigeria – The Central Bank of Nigeria (CBN) has announced a review of Automated Teller Machine (ATM) transaction fees, set to take effect from 1st March 2025. The revision, aimed at improving efficiency and boosting ATM deployment, updates the charges outlined in the CBN Guide to Charges by Banks, Other Financial and Non-Bank Financial…
The Central Bank of Nigeria (CBN) said on Tuesday the forensic verification of the $7 billion FX backlogs is nearing completion. The CBN Governor, Olayemi Cardoso, disclosed this at the launch of the Nigeria Foreign Exchange (FX) Code in Abuja. Cardoso stressed the importance of this milestone in restoring transparency and trust in the market….
In response to circulating rumours suggesting the discontinuation of old naira notes, ₦200, ₦500, ₦1,000, by December 31, 2024, the Central Bank of Nigeria (CBN) has issued a strong rebuttal, labelling such claims as false and designed to create confusion within the nation’s payment system. Acting Director of Corporate Communications, Mrs Sidi Ali Hakama in…
