The Central Bank of Nigeria (CBN) has dismissed reports suggesting that it is currently conducting a general recruitment exercise. This clarification follows the posting of a job vacancy on the Bank’s website on Tuesday, August 13, 2024, which led to widespread speculation. Read Also:Â CBN Withdraws Directive on Cybersecurity Levy for […]
Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN) has rescinded its directive to banks and other financial institutions to impose a cybersecurity levy on electronic transfers. Initially issued on May 6, the directive required commercial, merchant, non-interest, and payment service banks, as well as mobile money operators and payment service providers, […]
The Central Bank of Nigeria (CBN) has instructed banks to cease charging customers for cash deposits until September 30, 2024. Concerns were raised by customers of some Deposit Money Banks regarding the imposition of processing fees for cash deposits starting May 1. These banks had planned to levy two percent […]
The Nigeria Labour Congress (NLC) strongly denounces the recent directive issued by the Central Bank of Nigeria (CBN) to impose a 0.005 percent Cybersecurity Levy on electronic transfers. This levy, set to be deducted at transaction origination, adds yet another burden to the already strained finances of hardworking Nigerians. The […]
The Central Bank of Nigeria (CBN) has instructed banks operating in the country to commence charging a cybersecurity levy on transactions, according to a circular issued on Monday. The implementation of this levy is set to begin two weeks from the date of the circular. The directive, applicable to all […]
The Federal government’s recent announcement of plans to introduce three new national identity cards in May has received a chilly reception from the public. The initiative, aimed at targeting 104 million citizens, is part of a larger effort to establish a unified and secure digital identity framework across the nation. […]
The Securities and Exchange Commission (SEC) has revealed plans to implement new guidelines aimed at licensing, registering, and screening digital and virtual assets service providers (VASPs). VASPs, as defined by the Central Bank of Nigeria (CBN), are entities facilitating exchanges between virtual assets (cryptocurrencies) and fiat currencies, as well as […]
CBN Undergoes Major Restructuring: Plans to Relocate Key Departments to Lagos Amidst Staff Discontent The Central Bank of Nigeria (CBN) is undergoing significant changes under the leadership of Governor Yemi Cardoso, with plans to relocate major departments from the Abuja headquarters to the former headquarters in Lagos, Southwest Nigeria. This […]
The Central Bank of Nigeria (CBN) is set to investigate and impose sanctions on Deposit Money Banks (DMBs) suspected of undermining efforts to stabilize the Naira and bolster the national currency. Recent reports have revealed that some banks are engaging in speculative activities, purchasing foreign currency from the Investors […]
Dr. Olayemi Michael Cardoso, who was recently nominated by President Bola Ahmed Tinubu, officially commenced his duties on Friday, September 22, 2023, in an acting capacity as the Governor of the Central Bank of Nigeria (CBN). His formal appointment is pending confirmation by the Senate. This transition follows the […]
