The Nigerian Senate on Wednesday confirmed Lamido Yuguda as the Deputy Governor of the Central Bank of Nigeria (CBN). The confirmation follows his screening and clearance by the Senate Committee on Banking, Insurance and Other Financial Institutions. Recall that President Bola Tinubu had, in March, approved the appointment of Yuguda as Deputy Governor of the…
Central Bank of Nigeria The Central Bank of Nigeria (CBN) has issued a directive to commercial banks to restrict access to credit facilities for large-ticket obligors who are in default. Newsmen learnt that the CBN announced the development in a circular issued to banks. According to the circular, the restriction aims to promote a sound financial system,…
A lawsuit has been filed by the Socio Economic Rights and Accountability Project, SERAP, against the Central Bank of Nigeria, CBN, over its alleged failure to account for 3 trillion naira in public funds, including over 629 billion naira reportedly paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme. This was disclosed in a statement…
The consecutive decline in Nigeria’s headline inflation for the fifth time has intensified calls for the Central Bank of Nigeria to cut interest rates. According to reports, Nigeria’s inflation rate dropped to 21.12 per cent in August 2025. The latest drop represents a 1.79 per cent decrease compared to the N21.88 per cent recorded in…
The Central Bank of Nigeria, Bauchi Branch, has donated a motorised fire caddy to the Federal Fire Service in Bauchi State as part of its corporate social responsibility initiatives. Speaking at the handover ceremony of the mobile fire suppression system on Tuesday, the CBN Bauchi Branch Controller, James Laburta, stated that the gesture reflected the…
A Federal High Court sitting in Kano has sentenced social media personality Abdullahi Musa Huseini, widely known as Amuscap, to six months in prison for violating currency regulations by spraying and defacing the Naira at his wedding. Justice S.M. Shuaibu delivered the judgment after Huseini admitted guilt to a single charge of Naira abuse, contrary…
The Central Bank of Nigeria has approved a financial holding company structure, Greenwich Holdings Limited, for Greenwich Merchant Bank Limited. In a statement on Tuesday, the bank said that the regulatory approval marked a significant step enabling Greenwich Group to consolidate its existing financial service businesses, expand into new markets, and strengthen its position as…
By Yetunde Oke A former Staff of Union Bank of Nigeria, Comrade Augustine Onuh has called for the abolishment of contract staff system in the banking sector. Comrade Onuh made this known while featuring on Pensioners FM programme, “Grey Hair,” which profiles the past lives of the elderly. According to Comrade Onuh, the contract staff…
The House of Representatives, has directed the Central Bank of Nigeria, CBN to suspend the retirement of 1,000 staff and the associated payoff scheme until an investigation is completed. The House decided to investigate the mass retirement of over 1,000 CBN employees to evaluate the criteria, process and legality of the action. Additionally, it seeks…
The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, says the apex bank will ensure a steady supply of cash to tackle shortages across the country. Mr Cardoso gave this assurance at a press briefing after the 298th monetary policy committee, MPC, meeting in Abuja. He said that, the CBN was adopting multifaceted…