Why ban on ATM card use abroad can’t be reversed – CBN

The Central Bank of Nigeria says it has no power to reverse the restriction placed on the use of Automated Teller Machine cards abroad. The apex bank said it’s in support of the Deposit Money Banks’ decision to place a restriction on the use of ATM cards abroad. The CBN said the move which will... Read More

The News Blog

abroad, atm, ban, CBN, Nigerian students abroad

December 27, 2015

5 reasons why it’s a bad idea to ban use of ATM cards abroad – Ben Murray-Bruce

Senator Ben Murray-Bruce says the proposed ban on the use of Nigerian ATM cards abroad, will adversely affect average Nigerians, who have come to depend on it for various modes of foreign transactions. Murray-Bruce, advised the Central Bank of Nigeria and the Federal Government that ‘politically exposed people’ like himself should be stopped from using... Read More

The News Blog

abroad, atm, Ben Murray Bruce, BVN, CBN, nigeria

December 26, 2015

CBN Governor loses mother on Christmas day

The governor of the Central Bank of Nigeria, Godwin Emefiele has lost his mother. Madam Alice Emefiele, who was aged 94, died on Friday, December 25 at about 6:20 am. The governor has recieved a condolence message from President Buhari in a statement that was signed by his senior special assistant on media and publicity, Garba... Read More

The News Blog

Buhari, CBN, condolence, Emefiele

December 11, 2015

‘I once took $47m in 11 suitcases to Dasuki’s house’ – Former NSA Finance Director

A former Director of Finance in the Office of the National Security Adviser (ONSA), Shuaibu Salisu, has made fresh revelations about the withdrawals from the National treasury by the former NSA, Sambo Dasuki. The revelations were made through court documents filed by the Economic and Financial Crimes Commission in defence of the detention of Dasuki. Salisu... Read More

Featured, The News Blog

CBN, EFCC, Sambo Dasuki, Shuaibu Salisu

December 5, 2015

CBN got ‘presidential approval’ for withdrawals of diverted $2billion arms fund

The Economic and Financial Crimes Commission, has been able to make some headway in tracking how some of the $2billion arms funds were withdrawn from the Central Bank of Nigeria (CBN). According to a report by The Nation, the withdrawals were carried out based on orders from above. The report disclosed that part of the $2billion was gotten from the CBN,... Read More

Featured, The News Blog

$2billion, arms funds, CBN, presidential approval, scandal

November 29, 2015

The returned looted funds are with CBN – Presidency

Following the revelation by President Muhammadu Buhari, that some past government officials were returning their stolen loot, it’s been discovered that the location of the loot is the Central Bank of Nigeria (CBN). While speaking during an interactive session he had with members of the Nigerian community in the Islamic Republic of Iran, President Buhari disclosed that... Read More

Featured, The News Blog

CBN, kemi Adeosun, looted funds, Presidency, president buhari, returned funds

November 3, 2015

EXCLUSIVE: Why we won’t punish Stanbic IBTC – CBN schools FRCN

The Central Bank of Nigeria has defended Stanbic IBTC against the punitive measures taken against the commercial bank by the Financial Reporting Council of Nigeria (FRCN). FRCN had requested that the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) investigate Stanbic IBTC and KPMG Professional Services for financial misstatements. The... Read More

Featured, The News Blog

CBN, FRCN, KPMG, Stanbic IBTC

September 19, 2015

These are the 19 states that have received bailout funds

19 states have received their share of the bailout package from the Central Bank of Nigeria. According to the CBN, the bailout funds to pay arrears of workers’ salary, has been released to the following states. Abia (N14.152bn) Adamawa( N2.378bn) Bauchi (N8.60bn) Bayelsa (N12.85bn) Benue(N28.013bn) Borno(N7.680bn) Cross River(N7.856bn) Delta( N10.036bn) Ebonyi(N4.063bn) Edo(N3.167bn) Ekiti (N9.604bn) Enugu (N4.207bn)... Read More

The News Blog

Bailout funds, Bailout package, CBN, released, states

August 29, 2015

THE 2015 TRACKLIST: Edo APC assassinated, Nigeria Boko Haram sentenced to death, Buhari to pay ex-militants tuition, More stories

Dickson mocks APC, says he is the original agent of change. Leadership Ohanaeze youth, Abaribe criticizes Buhari over lopsided appointment. This Day Edo APC chieftain murdered by assassins. Leadership Buhari directs CBN pay tuition fees of ex-militants. This Day This is why Niger govt stopped sponsorship of pilgrimage. Leadership Nigeria Boko Haram, others sentenced to... Read More

amosun, Buhari, CBN, dickson, ex-militants, tracklist

August 27, 2015

CBN orders banks to release bailout funds to states

The Central Bank of Nigeria has instructed Banks to release funds to state governments for the payment of salary arrears of their workers. The directive was communicated through a statement signed by the Director, Corporate Communications, CBN, Mu’azu Ibrahim. According to the statement, out of the 27 states involved, funds have been disbursed to Zamfara and Kwara,... Read More

The News Blog

Bailout funds, banks, CBN, states

August 20, 2015

Hey, Nigerians in the diaspora! You can sort out your BVN finally

Nigerians in Diaspora with a Nigerian bank account that haven’t done their Bank Verification Numbers (BVN) registration, there is news for you. They can do their BVN without leaving their resident country as the Central Bank of Nigeria (CBN) has made two options available for them to conveniently do the registrations. In a memo dated... Read More

The News Blog

accounts, CBN, diaspora, nigerians

August 18, 2015

“Senators want to be born again” | 7 important things you didn’t read yesterday (but should have)

1. CBN upsets Nigerians Not everyone is happy with the new policy of the Central Bank of Nigeria The cutting down of ATM withdrawals from N100,00 to N60,000 has upset Mr. Chika and Mr. Chukwu and Mr. John. Since we can’t withdraw up to N100K, CBN should expect the return of long bank queues. ... Read More

The News Blog

7 important things you didn't read yesterday (but should have), Bayelsa, CBN, Kolapo Olapoju, Peter Bello, rituals, senators

August 11, 2015

Banks reduce withdrawal limits on ATMs

In an effort to curtail the value of naira, affecting existing withdrawal limits on Automatic Teller Machines (ATMs) and foreign transactions on all existing Naira debit cards (ATM cards), withdrawals limit on ATM has been further reduced. In the new arrangement, all ATMs that were previously enabled for domestic and foreign transactions have been restructured... Read More

The News Blog

ATMS, bank, CBN, withdrwal limits

August 11, 2015

Godwin Emefiele is the real enemy

Not $200 dates or men who refuse to understand feminism, the CBN Governor is the evil we must fight. In the new arrangement, all ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per... Read More

Featured

CBN, Godwin Emefiele, Naira withdrawal limit

August 10, 2015

‘NNPC, CBN, DPR, others will henceforth maintain a single account’

President Muhammadu Buhari has ordered all ministries, agencies and departments of government to stop operating multiple bank accounts for keeping their revenues and incomes. Henceforth, all agencies must maintain a Treasury Single Account, domiciled with the CBN for revenues and other receipts. The directive was communicated to the public on Sunday, by the Senior Special Assistant to... Read More

The News Blog

CBN, DPR, FAAN, nnpc, NPA, Treasury single account

August 7, 2015

This is Wema bank’s list of chronic debtors

Wema Bank Plc has published its list of delinquent debtors on Friday, August 7. Since the beginning of the week, 16 other banks had published their lists of loan defaulters as mandated by the Central Bank of Nigeria. Wema Bank’s list has 28 names with S.K. Ajayi Nigeria Limited, BSS Steel Rolling Mill Limited and... Read More

The News Blog

CBN, chronic debtors, delinquent debtors, Prince Arthur Eze, Wema bank

July 31, 2015

#YNaijaExplains: Why are some banks rejecting forex deposits?

One of the favourite past times of Nigerians over the last few months has been the daily check of exchange rates. Every new low of the Naira against either the Dollar or Pound has brought with it weeping and gnashing of teeth from those who have to deal regularly in foreign exchange for either personal... Read More

Featured

CBN, dollar, foreign exchange, Godwin Emefiele

July 28, 2015

Government says bailout money will be deducted from states’ allocations

The bailout is apparently not for free as earlier thought. Findings have revealed that the bailout package being prepared by the Central Bank of Nigeria (CBN) for the 36 states of the federation is to be deducted from their statutory allocations. According to investigations on Monday, it was revealed that some state governors had started... Read More

The News Blog

Bailout funds, Buhari, CBN, governors

July 12, 2015

Simon Kolawole: Cleaning up our mess is no child’s play

by Simon Kolawole After decades of paying lip service to economic diversification, we are finally paying the price. We never really believed we could get into this mess — despite several reminders of a similar meltdown in 1982-83. You begin to sense trouble when the Central Bank of Nigeria (CBN) issues a statement banning the... Read More

CBN, mess, naira, opinion, simon kolawole, ynaija

July 10, 2015

This MI fan doesn’t think Chocolate City stands a chance with the new CEO

A lot of people had their doubts when Audu Makoiri, ex-president of Chocolate City passed the baton to MI Abaga and the rest. People like this fan (@iamking_el) who wrote a note to the new president of the label citing the current poor state of Chocolate City and Choc Boys Nation. From Iamking_el: “Please before anyone... Read More

CBN, cc, chic boys, fan, loyal, M.I., Music

July 1, 2015

$2.1 billion drama: Oshiomole replies Okonjo-Iweala, says she is not transparent

Former minister of finance Ngozi Okonjo-Iweala and Edo state Governor Adams Oshiomhole have accused each other back and forth over the recent $2.1 billion controversy. Oshiomhole, a member of the newly inaugurated National Economic Council (NEC), had earlier revealed that Okonjo-Iweala, spent $2.1 billion from the Excess Crude Account (ECA) without authorization. Okonjo-Iweala denied the allegation,... Read More

The News Blog

$2.1 billion, CBN, Okonjo-Iweala, Oshiomhole

June 30, 2015

CBN extends BVN registration deadline till…

The Central Bank of Nigeria, has extended the registration for the Bank Verification Number (BVN) till October 31, 2015. The BVN enrollment was earlier billed to expire on Tuesday, 30th June, 2015, but due to the millions of Nigerians that are yet to carry out the process, the CBN has pushed forward the deadline. The BVN, a... Read More

The News Blog

BVN, CBN, deadline extension, registration

June 24, 2015

“Private jets, rice and tomatoes” – It will become hard to import these items and 37 others

The Central Bank of Nigeria has issued a directive which will effectively stop the importers of certain goods from accessing foreign exchange. According to the apex bank, this move is in a bid to help stabilise the foreign exchange market and encourage local production of these items. The implementation of the new policy is expected to... Read More

The News Blog

CBN, foreign exchange, private jets, rice

June 15, 2015

Irene Nwaukwa: No bailouts for “onigbese” Governors, please!

by Irene Nwaukwa A bailout from FG will punish the entire country for the excesses of these states. It will greatly affect our economy and is unfair to states that have performed better. It’s equivalent to taking a state problem and making it a national problem. So… let’s talk about this bailout since this subject... Read More

bailout, CBN, irene nwaukwa, MD, opinion, salaries, states governors, ynaija

June 8, 2015

THE 2015 TRACKLIST: APC tells lawmakers to accept Lawan, Gbajabiamila, PDP says APC hypocrisy exposed, APC accuses that most Ekiti lawmakers are miscreants, More stories

APC tells lawmakers to accept Lawan, Gbajabiamila. Nation PDP hails Mark, Tambuwal, Ekweremadu. Vanguard Buhari, G7 leaders to talk on economy, Boko Haram. Nation APC hypocrisy exposed, says PDP. ThisDay APC accuses that most Ekiti lawmakers are miscreants. Punch Nigerians in South Africa also have expectations from Buhari. Nation Group says Saraki will contest Senate... Read More

APC, CBN, clinton, economy, NASS, PDP, tracklist

April 9, 2015

Opinion: It’s all about the economy, stupid!

by Nasiru Suwaid …apart from the general relief in averting the doomsday scenario, when the President Goodluck Jonathan conceded defeat, what further galvanized positive hope is the promise of a much accountable government… Normally and all things being equal, it could easily be said nothing has tangible, as to warrant a change of ‘perception’,... Read More

CBN, central bank of Nigeria, General Muhammadu Buhari, Interbank Foreign Exchange Market

March 28, 2015

Femi Falana: The ‘dollarization’ of the Nigerian economy must be stopped

by Femi Falana Nigeria has become the largest importer of the United States dollars in the world neither the International Monetary Fund (IMF) nor the World Bank has ever questioned the reckless devaluation of the economy. In an address which I delivered last Saturday (March 21, 2015) at the Life Theological Seminary, Ikorodu, Lagos State I criticized... Read More

CBN, central bank of Nigeria, dollarization, femi falana, Godwin Emefiele, ngozi okonjo iweala

March 24, 2015

Atedo Peterside: Tales of the unexpected at NNPC and CBN

by Atedo Peterside Wake up on any day of your choice and accuse NNPC of failing to remit 100% of what is due to the Federation Account and you will be right – the worst that can happen is that you may be incorrect on the scale/magnitude. A foreign correspondent first called my attention to... Read More

CBN, central bank of Nigeria, missing funds, nnpc, Petroleum, President Goodluck Jonathan

March 19, 2015

Financial literacy series: Lifestyle and financial goals

by Temitope Onitiju First, let’s talk about the importance of goal setting. Goal setting involves thinking about where you want to be in future and motivating yourself to turn this vision of the future into reality. Before you can achieve any goals, you must determine what those goals are in the first place. Goals should... Read More

CBN, financial literacy series, lifestyle planning, nigeria, Standard Chartered bank

Why ban on ATM card use abroad can’t be reversed – CBN

5 reasons why it’s a bad idea to ban use of ATM cards abroad – Ben Murray-Bruce

CBN Governor loses mother on Christmas day

‘I once took $47m in 11 suitcases to Dasuki’s house’ – Former NSA Finance Director

CBN got ‘presidential approval’ for withdrawals of diverted $2billion arms fund

The returned looted funds are with CBN – Presidency

EXCLUSIVE: Why we won’t punish Stanbic IBTC – CBN schools FRCN

These are the 19 states that have received bailout funds

THE 2015 TRACKLIST: Edo APC assassinated, Nigeria Boko Haram sentenced to death, Buhari to pay ex-militants tuition, More stories

CBN orders banks to release bailout funds to states

Hey, Nigerians in the diaspora! You can sort out your BVN finally

“Senators want to be born again” | 7 important things you didn’t read yesterday (but should have)

Banks reduce withdrawal limits on ATMs

Godwin Emefiele is the real enemy

‘NNPC, CBN, DPR, others will henceforth maintain a single account’

This is Wema bank’s list of chronic debtors

#YNaijaExplains: Why are some banks rejecting forex deposits?

Government says bailout money will be deducted from states’ allocations

Simon Kolawole: Cleaning up our mess is no child’s play

This MI fan doesn’t think Chocolate City stands a chance with the new CEO

$2.1 billion drama: Oshiomole replies Okonjo-Iweala, says she is not transparent

CBN extends BVN registration deadline till…

“Private jets, rice and tomatoes” – It will become hard to import these items and 37 others

Irene Nwaukwa: No bailouts for “onigbese” Governors, please!

THE 2015 TRACKLIST: APC tells lawmakers to accept Lawan, Gbajabiamila, PDP says APC hypocrisy exposed, APC accuses that most Ekiti lawmakers are miscreants, More stories

Opinion: It’s all about the economy, stupid!

Femi Falana: The ‘dollarization’ of the Nigerian economy must be stopped

“Obasanjo begs court to let his books be sold” – 7 important things you didn’t read yesterday (but should have)

Atedo Peterside: Tales of the unexpected at NNPC and CBN

Financial literacy series: Lifestyle and financial goals

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