CBN Archives - The Culture Custodian (Est. 2014.)

News & Politics

Explainer: How the New Naira Note Scarcity is Affecting Nigerians

February 3, 2023 by Michael Aromolaran

On 26 October 2022, Godwin Emefiele, the Central Bank of Nigeria (CBN) governor, announced that new naira notes—200, 500 and 1,000 naira bills—will replace the current ones, starting from 15

News & Politics

The Central Bank is citing “suspected terror financing” as its reason for Blocking Accounts of #ENDSARS protesters

February 10, 2021 by Damilola Akintola

Last year, the government, in all their wisdom responded through the use of brute force in unleashing the military on peaceful protesters at Lekki Tollgate. In effect, this sense of

News & Politics

CBN Introduces Stringent Rule to Curb Money Laundering

February 13, 2019 by Tochi Praise

The Central Bank of Nigeria (CBN) has implemented a new set of rules to tackle the age-long economic menace which is Money Laundering. The principal bank of Nigeria announced its

News & Politics

Senate asks Central Bank to suspend ATM card maintenance charges

October 18, 2018 by Tobi Idowu

The Senate has asked the Central Bank of Nigeria (CBN) to look into the suspension of the Automated Teller Machine (ATM) maintenance and withdrawal charges by banks. This followed a

News & Politics

Nigerians fond of spraying money at parties risk arrest – CBN

October 5, 2018 by Tobi Idowu

The Central Bank of Nigeria (CBN) has said those those fond of “spraying” money during parties’ risk being arrested. Spokesman of the CBN, Isaac Okorafor, stated this after a meeting

News & Politics

Mishandle the naira, get five year jail term, CBN warns

July 17, 2018 by Tobi Idowu

The Central Bank of Nigeria has warned against spraying, selling and mutilation of Naira notes. CBN said such mishandling of the currency is a criminal offence, which attracts five years

News & Politics

CBN pours another $380m into forex economy

April 20, 2017 by Culture Custodian

Over the past 48 hours, The Central Bank of Nigeria, CBN has pumped a total $380million into the Foreign Exchange Market in the continuing bid to sustain the Naira. The

News & Politics

CBN to inject $350million into Forex market

March 4, 2017 by Culture Custodian

Reports from Vanguard and PUNCH suggest that The Central Bank of Nigeria is set to inject $350 million into the forex market to aid the bid to strengthen the value

News & Politics

CBN reinstates charges on bank deposits

February 24, 2017 by Culture Custodian

Yesterday, The Central Bank of Nigeria, reintroduced charges on cash deposits in banks, which would take effect at different dates in different parts of the country. In a circular sent

News & Politics

Senate panel urges EFCC to go after corrupt CBN, NNPC officials

February 21, 2017 by Culture Custodian

On Monday, a Senate panel requested that the Economic and Financial Crimes Commission investigate officials of the Central Bank of Nigeria (CBN) and the Nigerian National Petroleum Corporation (NNPC) over

News & Politics

CBN set to introduce new PTA policies

February 20, 2017 by Culture Custodian

Following the continued depreciation of the Naira, the CBN and local banks shall now require tax clearance certificates from citizens who require Personal Travel Allowance (PTA). In a meeting with

News & Politics

FRCN blames CBN for MTN’s illegal transfer of $13.9bn

October 21, 2016 by Culture Custodian

The Senate on Thursday began its investigative hearing on the alleged transfer of $13.9bn by MTN Nigeria out of the country illegally. The Financial Reporting Council of Nigeria, FRCN, in its

News & Politics

CBN gives 310 youths N930m to start business

October 21, 2016 by Culture Custodian

cbn implement new policy for airlines to access forex

A total of 310 youths, including members of the National Youth Service Corps, on Thursday received N930m from the CBN to establish profitable ventures in different sectors of the economy.

News & Politics

CBN intiate Forex intervention for airlines.

October 15, 2016 by Tomi

In the past year some airlines have refused to fly through Nigeria as a result of recent foreign exchange laws, the most notable of these have been United Airlines and

News & Politics

Protesters storm CBN, demand Emefiele’s resignation.

October 12, 2016 by Tomi

Some protesters under the tag “Concerned Women and Youths” on Tuesday stormed the Central Bank of Nigeria (CBN) Headquarters in Abuja demanding the resignation of standing governor, Godwin Emefiele. Some of their