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Tag Archives: CBN

Banks in Nigeria to Identify Customers by Fingerprints in 2014

Posted ago by Elsie

  The Central Bank of Nigeria and the Bankers Committee yesterday sealed a biometric solution pact with a German Firm, Dermalog, for the development of a payment system that would be driven by fingerprints. The move, according to the CBN …

Banks Disbursed N109Billion to 20 Power Firms.

Posted ago by Kowope

Eleven Deposit Money Banks had so far disbursed the sum of N109.3bn to 20 companies from the N300bn Power and Airlines Intervention Fund provided by the Central Bank of Nigeria in 2010, the Governor, CBN, Mr. Lamido Sanusi, said on …

Banks on the Edge of Sever Liquidity Crisis Due to CBN Policies

Posted ago by Elsie

Following the Central Bank of Nigeria’s decision to impose 50 per cent cash reserve requirement (CRR) on public sector deposits, banks in the country seem to be facing a severe liquidity crisis.  Recent data show that banks, discount houses and …

Govt Realised N1tn Revenue In July – CBN

Posted ago by admin

The country realised a total of N1.05tn in federally collected revenue in July, according to the monthly report posted on the Central Bank of Nigeria’s website on Thursday. The amount represents an increase of 33.7 per cent over what was …

59% Of Nigerians Are Unaware Of Mobile Money – Report

Posted ago by admin

Almost two years after the Central Bank of Nigeria introduced mobile money services to drive financial inclusion in the country, a new survey by NOI Polls has revealed that about 59 per cent of the populace are unaware that such …

Naira Depreciates As Foreign Investors Exit Nation’s Bond Market

Posted ago by admin

The Naira depreciated by 98 kobo at the interbank foreign exchange market and by one kobo at the official market in spite of $500 million sale by Central Bank of Nigeria. From N160.8125 per dollar, the exchange rate of the …

CBN Directs Banks To Accept Voters’ Card For Identification.

Posted ago by admin

Central Bank of Nigeria, CBN, Thursday directed banks to accept the voters’ card issued by Independent National Electoral Commission, INEC, as means of identification. The directive was given via a circular titled “Inclusion of Independent National Electoral Commission, INEC, voter’s …

Nigerian Senate Halts CBN’s Proposed N5, 000 New Bill.

Posted ago by admin

The Senate  Monday August 27th directed the Central Bank of Nigeria to stop plans to introduce a single N5000 note with immediate effect. The Senate, in a press conference in Abuja yesterday, said that CBN had no right to embark …

CBN To Spend 40bn To Print N5, 000 Notes And Others.

Posted ago by admin

The Central Bank of Nigeria will spend N40.3bn to produce its new coins and naira notes. Out of the amount, N11.8bn will be spent on the new N20, N10 and N5 coins. “The bank is spending over N40bn on the …

CBN Should Answer Questions On Controversial Secret Account – NNPC

Posted ago by admin

The Nigerian National Petroleum Corporation (NNPC), on Tuesday, said only the Central Bank of Nigeria (CBN) could answer questions on the controversial secret foreign account for crude sales. The NNPC, speaking through its Executive Director, Finance, Bernard Okechukwu Oti, when …