THE Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorization at N500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that […]
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The special investigator appointed by President Bola Tinubu to investigate the Central Bank of Nigeria (CBN), related entities and other key government business entities has placed a senior official of the apex bank, Odoh Eric Ocheme, on the watch list of International Police Organisation (INTERPOL). In a letter to the Nigeria Police, dated February 12 […]
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The Central Bank of Nigeria (CBN) has debunked any plan to convert the $30billion deposits in domiciliary bank accounts to the local currency in order to save Naira from free fall against the United States Dollar. A newspaper (not Diplomat Nigeria) had reported that there were strong signs that the Federal Government was planning a […]
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Nigeria’s apex bank, the Central Bank of Nigeria (CBN), mitigating its pledge to clear the backlog of foreign exchange owed foreign airlines in the country, has concluded the payment of all verified claims by airlines with an additional $64.44 million to the concerned airlines. Acting Director of Corporate Communications at the CBN, Mrs Hakama Ali […]
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