Nigeria’s Central Bank has instructed banks to submit comprehensive Capital Restoration Plans by 14 July 2025, formally ending financial relief measures that were introduced to cushion the sector during the COVID-19 pandemic. In an official circular dated 20 June 2025, signed by Director of Banking Supervision Dr Olubukola Akinwunmi, the CBN set out a clear…
The International Monetary Fund (IMF) has commended the Central Bank of Nigeria (CBN) over its monetary policy reforms, which are significantly contributing to the nation’s economic recovery. IMF gave the commendation was its 2025 Article IV Consultation report on Nigeria. The fund commended the Federal Government for bold and politically difficult policies that had improved…
Hearing in the contempt proceeding against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged disobedience to a Supreme Court judgment was, on Monday, stalled at the Federal High Court in Abuja. The development occured following an oral application by C.E. Odum, who appeared for the applicant, Melrose General Services Limited, seeking an…
Zenith Bank Plc has announced it has met and exceeded the ₦500 billion capital requirement set by Nigeria’s apex bank, signalling a strong financial position and the imminent end of its regulatory forbearance status. In a statement submitted to the Nigerian Exchange Limited (NGX), the leading commercial bank responded to a recent directive from the…
The Association of Securities Dealing Houses of Nigeria (ASHON) has expressed concern over the Central Bank of Nigeria’s (CBN’s) recent circular temporarily suspending dividend payments by banks. Mr Sam Onukwue, Chairman of ASHON in a statement on Tuesday, said that the directive, issued June 13, was said to ensure compliance with regulatory forbearance and Single…
The Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible. Justice James Omotosho, in a judgment, also held that the suit filed by Omosebi to seek redress over alleged breach of his fundamental rights,…
The seventh prosecution witness, Mr John Adetola, told an Ikeja High Court that he did not document the alleged $400,000 he handed to the former Central Bank Governor (CBN), Godwin Emefiele. Adetola, an executive assistant to the former CBN governor, said this on Monday while being cross-examined by Emefiele’s lead counsel, Mr Olalekan Ojo (SAN),…
The Central Bank of Nigeria (CBN), has donated a motorised fire fighting vehicle to the Bauchi Commmand of the Federal Fire Service (FFS). Mr James Laburta, the CBN Bauchi Branch Controller, said this while presenting the equipment to the command on Tuesday in Bauchi. He said the gesture was part of its corporate social responsibility,…
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) on Tuesday officially inaugurated the Non-Resident Bank Verification Number (NRBVN) platform in Abuja. According to the apex bank, this innovative digital gateway allows Nigerians in the diaspora to obtain a BVN remotely without the need for a physical presence in…
A Federal Capital Territory (FCT) High Court on Tuesday granted the Economic and Financial Crimes Commission (EFCC) leave to play compact disc as evidence in the trial of a former governor of Central Bank of Nigeria (CBN) Godwin Emefiele. Emefiele is being prosecuted before Justice Maryanne Anenih by the EFCC on a six-count charge in…
