CBN Archives - Afinju FM https://afinjufm.com/tag/cbn/ Fri, 12 Dec 2025 10:04:42 +0000 en-US hourly 1 https://wordpress.org/?v=7.1.2 https://afinjufm.com/wp-content/uploads/2025/11/cropped-Afinju_Logo-removebg-preview-32x32.png CBN Archives - Afinju FM https://afinjufm.com/tag/cbn/ 32 32 233669348 CBN Issues One-Month Deadline For Dual PoS Connectivity https://afinjufm.com/cbn-issues-one-month-deadline-for-dual-pos-connectivity/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-issues-one-month-deadline-for-dual-pos-connectivity https://afinjufm.com/cbn-issues-one-month-deadline-for-dual-pos-connectivity/#respond Fri, 12 Dec 2025 10:04:42 +0000 https://afinjufm.com/?p=17484 The Central Bank of Nigeria (CBN) has instructed all financial institutions, acquirers, and payment service providers to implement mandatory dual connectivity for Point of Sale (PoS) transactions within one month. This was disclosed in a statement signed by the Director of the Payments System Supervision Department, Rakiya Yusuf, updating a September 2024 policy. “Under the […]

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]]> https://afinjufm.com/cbn-issues-one-month-deadline-for-dual-pos-connectivity/feed/ 0 17484 Reps Move to Amend CBN Act, Push for Stronger Oversight and Transparenc https://afinjufm.com/reps-move-to-amend-cbn-act-push-for-stronger-oversight-and-transparenc/?utm_source=rss&utm_medium=rss&utm_campaign=reps-move-to-amend-cbn-act-push-for-stronger-oversight-and-transparenc https://afinjufm.com/reps-move-to-amend-cbn-act-push-for-stronger-oversight-and-transparenc/#respond Thu, 11 Dec 2025 13:57:57 +0000 https://afinjufm.com/?p=17468 The House of Representatives on Thursday opened debates on a landmark bill seeking sweeping amendments to the Central Bank of Nigeria, CBN Act, in a move aimed at tightening governance, enhancing transparency, and improving oversight of the apex bank.   The bill  co-sponsored by House Leader Julius Ihonvbere and Jesse Onakalausi sailed through second reading […]

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]]> https://afinjufm.com/reps-move-to-amend-cbn-act-push-for-stronger-oversight-and-transparenc/feed/ 0 17468 House Orders CBN Governor to Explain ₦16 trillion Missing Government Funds https://afinjufm.com/house-orders-cbn-governor-to-explain-%e2%82%a616-trillion-missing-government-funds/?utm_source=rss&utm_medium=rss&utm_campaign=house-orders-cbn-governor-to-explain-%25e2%2582%25a616-trillion-missing-government-funds https://afinjufm.com/house-orders-cbn-governor-to-explain-%e2%82%a616-trillion-missing-government-funds/#respond Wed, 10 Dec 2025 16:42:00 +0000 https://afinjufm.com/?p=17428 The House of Representatives has directed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso to appear before its Public Accounts Committee and explain why more than ₦16 trillion in government revenue was not remitted into federal accounts. The order followed revelations from an ongoing investigation into the CBN’s handling of revenue collected […]

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]]> https://afinjufm.com/house-orders-cbn-governor-to-explain-%e2%82%a616-trillion-missing-government-funds/feed/ 0 17428 CBN Lifts Cash Deposit Limit, Raises Weekly Withdrawal Threshold To N500,000 https://afinjufm.com/cbn-lifts-cash-deposit-limit-raises-weekly-withdrawal-threshold-to-n500000/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-lifts-cash-deposit-limit-raises-weekly-withdrawal-threshold-to-n500000 https://afinjufm.com/cbn-lifts-cash-deposit-limit-raises-weekly-withdrawal-threshold-to-n500000/#respond Wed, 03 Dec 2025 12:54:10 +0000 https://afinjufm.com/?p=17238 The Central Bank of Nigeria, CBN, has unveiled significant changes to its cash management policies, including new nationwide withdrawal limits and the removal of the deposit cap for bank customers.   In a circular issued on December 2, 2025, and signed by Rita I. Sike, Director of the Financial Policy & Regulation Department, the CBN […]

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]]> https://afinjufm.com/cbn-lifts-cash-deposit-limit-raises-weekly-withdrawal-threshold-to-n500000/feed/ 0 17238 CBN: Naira Abuse Increases Printing Costs https://afinjufm.com/cbn-naira-abuse-increases-printing-costs/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-naira-abuse-increases-printing-costs https://afinjufm.com/cbn-naira-abuse-increases-printing-costs/#respond Wed, 24 Sep 2025 16:02:07 +0000 https://afinjufm.com/?p=14379 The warning was announced at the flag-off of a nationwide sensitisation campaign on proper naira handling, held in Abuja. The Deputy Governor, Operations Directorate, Bala Bello, was represented by Dr Adedeji Adetona, Director of Currency Operations and Branch Management Department, who delivered the speech on his behalf. “The Naira is more than a means of […]

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]]> https://afinjufm.com/cbn-naira-abuse-increases-printing-costs/feed/ 0 14379 BREAKING: CBN Cuts Interest Rate To 27% https://afinjufm.com/breaking-cbn-cuts-interest-rate-to-27/?utm_source=rss&utm_medium=rss&utm_campaign=breaking-cbn-cuts-interest-rate-to-27 https://afinjufm.com/breaking-cbn-cuts-interest-rate-to-27/#respond Tue, 23 Sep 2025 14:41:37 +0000 https://afinjufm.com/?p=14343 The Monetary Policy Committee of the Central Bank of Nigeria has reduced the country’s interest rate to 27.00 per cent for the first time in 2025. The Governor of CBN, Olayemi Cardoso, disclosed this during a press briefing after the 302nd MPC meeting in Abuja. “The Committee decided as follows: (1) reduce the monetary policy […]

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]]> https://afinjufm.com/breaking-cbn-cuts-interest-rate-to-27/feed/ 0 14343 UBA Clarifies Lagos Fire Incident, Customers Safe https://afinjufm.com/uba-clarifies-lagos-fire-incident-customers-safe/?utm_source=rss&utm_medium=rss&utm_campaign=uba-clarifies-lagos-fire-incident-customers-safe https://afinjufm.com/uba-clarifies-lagos-fire-incident-customers-safe/#respond Wed, 17 Sep 2025 09:53:24 +0000 https://afinjufm.com/?p=14089 The incident caused panic in the busy commercial area after thick smoke was seen coming from the building, prompting the urgent evacuation of occupants. Eyewitnesses described scenes of chaos, with people smashing windows for air and others jumping from upper floors to escape the smoke. According to the Lagos State Fire and Rescue Service, the […]

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]]> https://afinjufm.com/uba-clarifies-lagos-fire-incident-customers-safe/feed/ 0 14089 CBN retains interest rate at 27.5% https://afinjufm.com/cbn-retains-interest-rate-at-27-5/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-retains-interest-rate-at-27-5 https://afinjufm.com/cbn-retains-interest-rate-at-27-5/#respond Tue, 22 Jul 2025 15:12:31 +0000 https://afinjufm.com/?p=12059 It was reported that the MPR is used to benchmark interest rates in the country and the decision is the third time the regulator is retaining the MPR in 2025. The Governor of the apex bank, Olayemi Cardoso, announced this at the end of the committee’s 301st meeting in Abuja. He asserted that the CBN […]

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]]> https://afinjufm.com/cbn-retains-interest-rate-at-27-5/feed/ 0 12059 CBN insists BVN remains free locally https://afinjufm.com/cbn-insists-bvn-remains-free-locally/?utm_source=rss&utm_medium=rss&utm_campaign=cbn-insists-bvn-remains-free-locally https://afinjufm.com/cbn-insists-bvn-remains-free-locally/#respond Mon, 07 Jul 2025 12:32:54 +0000 https://afinjufm.com/?p=11681 This clarification comes in response to recent speculations and reports suggesting that new charges had been introduced following the launch of the Non-Resident Bank Verification Number, NRBVN, platform for Nigerians abroad. The Bank’s Acting Director of Corporate Communications, Hakama Sidi Ali, noted the fee mentioned in some media outlets is tied exclusively to the new […]

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]]> https://afinjufm.com/cbn-insists-bvn-remains-free-locally/feed/ 0 11681 Naira appreciates to N1,575 per dollar https://afinjufm.com/naira-appreciates-to-n1575-per-dollar/?utm_source=rss&utm_medium=rss&utm_campaign=naira-appreciates-to-n1575-per-dollar https://afinjufm.com/naira-appreciates-to-n1575-per-dollar/#respond Sat, 28 Jun 2025 12:36:15 +0000 https://afinjufm.com/?p=11438 The local currency had recorded a N25 appreciation against the dollar since the beginning of the week, when it traded at N1,600 per dollar in the parallel market. Naira appreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market, NFEM.Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for […]

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