Customers Rush to Reactivate Dormant Accounts Amid New CBN Guidelines
In response to recent directives from the Central Bank of Nigeria (CBN) concerning dormant accounts, numerous bank customers flooded their ...
Tag: CBN
Naira Plummets to N1,611 per Dollar, Lowest Since March
The exchange rate between the Nigerian naira and the US dollar fell to a four-month low of N1,611 on the ...
CBN to Classify Inactive Accounts Over 10 Years as Dormant for Investment Purposes
The Central Bank of Nigeria (CBN) has announced a new policy clarifying that only accounts inactive for over ten years ...
Naira Hits Four-Month Low, Closes at N1,603.80/$1 Amid Demand Pressure
The Nigerian naira has experienced further depreciation, closing at N1,603.80/$1 on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on ...
CBN Issues New Guidelines for Recovery of Funds from Dormant Accounts
The Central Bank of Nigeria (CBN) has introduced new regulations to facilitate the recovery of funds from dormant accounts. These ...
Nigeria’s External Reserve Hits $37 Billion – Cardoso
Nigeria's external reserves have reached $37.05 billion as of July 18, 2024, according to the Governor of the Central Bank ...
CBN Increases Interest Rate to 26.75%
The Central Bank of Nigeria (CBN) has raised the interest rate by 50 basis points, bringing it to 26.75%. This ...
Forex Inflows via IMTOs Reach $1.07 Billion in Q1 2024: CBN
The Central Bank of Nigeria (CBN) has reported a significant increase in foreign exchange inflows through International Money Transfer Operators ...
eNaira Accounts for Less Than 1% of Circulating Currency
As of March 2024, nearly three years post-launch, Nigeria’s Central Bank Digital Currency (CBDC), the eNaira, constitutes less than 1% ...
Naira Falls to N1,577/USD: Lowest Since March
The Nigerian naira has dropped to its lowest level since March, trading at N1,577 per U.S. dollar on Monday, despite ...
