PM News Nigeria


Traders want CBN to increase circulation of lower denomination Naira notes

Sarah Alade Acting Central Bank of Nigeria Governor

Some traders in Lagos have appealed to the Central Bank of Nigeria (CBN) to ease their transactions with customers by injecting adequate lower denomination Naira Notes into the system. The traders said dearth the of lower Naira notes was hampering free flow of business activities. Ayisat Bello, a stall owner at Ayobo market, said the […]

CBN charges for currency sorting when banks fail to do so

Naira bundles

The Central Bank of Nigeria (CBN) says it does not charge Deposit Money Banks (DMBs) for Currency Sorting Services for pecuniary benefits. The Acting Director of CBN Corporate Communications, Mr Isaac Okoroafor, said this when he briefed newsmen at the Spring Meeting of the World Bank and International Monetary Fund in Washington DC. “The CBN […]

About 67.5 per cent of Nigerians don’t have bank accounts

Henry Semenitari: only 32.5 per cent of Nigerians have bank accounts

The Managing Director of Unity Bank Plc, Henry Semenitari, said in Abuja that only about 32.5 per cent of people living in the country had bank accounts. Semenitari made the disclosure while making a presentation on “Financial Inclusion through Agency Banking” at a three-day Co-operatives Summit and Leadership Forum. “Many Nigerians are unbanked and financially […]

New CBN governor-designate vows economic stability

Godwin Emefiele: promises reforms

Nigeria’s new central bank governor-designate on Wednesday vowed to ensure economic stability to create jobs and boost growth, as lawmakers approved his appointment after the controversial suspension of his predecessor. Zenith Bank boss Godwin Emefiele will replace Lamido Sanusi, who was removed last month on government charges of “financial recklessness and misconduct”. Lawmakers in Nigeria’s […]

Fire fighters save Central Bank building

The timely intervention of the Federal, State and private fire services on Tuesday evening saved the old headquarters of the Central Bank of Nigeria at Tinubu Square in central Lagos from being razed down. Mr Njoku Chika, Head of Fire Prevention, Federal Fire Service in Lagos, told the News Agency of Nigeria (NAN) that the […]

CBN submits 2014 budget to National Assembly

Headquartrs, Central Bank of Nigeria.

The Central Bank of Nigeria (CBN) on Wednesday submitted and defended its 2014 budget proposal before the House of Representatives Committee on Banking and Finance. It was the first time that the CBN would do so. The budget was presented to the house by Mr Suleiman Barau, Deputy Governor in charge of Corporate Services, who […]

Deputy CBN gov Moghalu says Sanusi crossed the line

Sanusi Lamido Sanusi: knows fate on May 20

One of the deputy governors of the Central Bank of Nigeria, Kingsley Moghalu has spoken for the first time on the suspension of Malam Sanusi Lamido Sanusi by President Goodluck Jonathan, blaming Sanusi for overstepping his bounds. Moghalu spoke with London’s Independent Newspaper on the sidelines of the Africa CEO Forum in Geneva. The Independent […]

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