The Central Bank of Nigeria (CBN) has announced plans to freeze all accounts of Nigerians without a Bank Verification Number (BVN) or National Identification Number (NIN) starting from April 2024. According to the bank, a BVN or NIN verification will be “conducted shortly”. Recall that the apex bank at the Prembly Compliance Breakfast Dialogue in…
The Central Bank of Nigeria (CBN) says it will freeze bank accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024. This is according to a circular released on Friday by the apex bank which said a BVN or NIN verification will be “conducted shortly”. Meanwhile the Central Bank of…
Nigeria’s Apex bank, the Central Bank of Nigeria (CBN) has again assured Nigerians that there is enough currency is circulation and warned against panic withdrawals. The Bank in a statement on Wednesday, reiterated that old and new naira notes remained legal tender. “For the avoidance of doubt, while reiterating that there are sufficient banknotes across…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said that under his leadership, the Bank will focus mainly on the core mandate of price stability. He disclosed this while playing host to the Impact Investing Community, led by the 14th Emir of Kano and Khalifa of the Tijaniyyah Sufi order…
The Central Bank of Nigeria, CBN, has condemned reports of insufficient stock of currency notes in the country. CBN through its Director Corporate Communications, Isa AbdulMumin, noted that there is sufficient stock to facilitate economic activities in the country. He made this known on the CBN Twitter handle X platform. In his words: “The attention…
The Central Bank of Nigeria (CBN) has clarified that the old 200, 500, and 1000 naira notes would continue to be legal tender even after December 31, 2023. Recall that in October 2022, former CBN governor Godwin Emefiele had unveiled plans to redesign the N200, N500, and N1,000 notes, urging citizens to deposit their old…
The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, on Sunday advised the Governor of Central Bank Of Nigeria (CBN), Yemi Cardoso, to withdraw the new naira notes designed by the former administration. In a statement signed by his media aide, Osho Oluwatosin, Ayodele described the new notes as satanic, demonic and a bad…
In a recent shift of focus, the Central Bank of Nigeria (CBN) has opted to step away from direct involvement in development finance programs. The decision, spearheaded by the new governor, Dr. Olayemi Cardoso, signals a strategic move towards prioritizing advisory roles in driving economic growth, according to sources within the institution. The CBN’s sizeable…
