CBN Flags “Money Bouquets” as Naira Abuse
CBN lists money bouquets as naira abuse, warning offenders risk jail term or fine before Valentine’s Day.
CBN Policies
BoI Secures CBN Approval for Non-Interest Banking Window
Bank of Industry gets CBN approval to launch non-interest banking, expanding ethical financing and access for underserved businesses.
Naira Redesign Trial: Court Fixes 10 Dates to Finish
An FCT High Court has scheduled 10 hearing dates to conclude the naira redesign trial of former CBN governor Godwin Emefiele.
CBN Removes cash deposit Limits, Raises Weekly Withdrawal Amount
The CBN has scrapped cash deposit caps while setting new weekly withdrawal limits for individuals and corporates under revised cash policies.
CBN Issues New Directives to Banks on Refund Policy for Failed ATM Transactions
The CBN has issued directives mandating deadline for banks to refund customers for failed ATM transactions, introducing new rules for consumer protection.
CBN opens up on Introducing New N5000, N10000 Notes
The Central Bank of Nigeria (CBN) has denied introducing new N5,000 and N10,000 notes, describing the reports as false. There has been widespread reports that the CBN had unveiled the high-denomination bank notes to enhance cash transactions. The report said the apex bank was set to introduce the new notes to reduce cash-handling costs and … Read more
CBN ordered to suspend increase in ATM Transaction Charges
Central Bank of Nigeria, CBN has been ordered by the House of Representatives to suspend the implementation of an increase in ATM transaction charges. According to a new CBN policy, customers withdrawing from their banks’ ATMs will continue to enjoy free withdrawals. However, a fee of N100 per N20,000 withdrawal will be applied to customers … Read more
CBN dragged to Court over ATM fee hike
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over its recent decision to increase Automated Teller Machine (ATM) transaction fees. SERAP argues that the fee hike is “unlawful, unfair, unreasonable, and unjust” and seeks a court order to stop its implementation. The suit, filed at … Read more
Nigerians to Pay N500 per Withdrawal as CBN releases New ATM Transactions Charges
The Central Bank of Nigeria has announced that Nigerians using Off-site ATMs, which are positioned outside bank premises such as shopping malls, fuel stations, and other public spaces, will attract an additional surcharge of up to N500 per transaction. This was contained in an announcement that includes withdrawal of less than N20,000 from another bank’s … Read more
CBN announces Increased Rate for ATM Withdrawal Charges
The Central Bank of Nigeria (CBN) has announced plan to increase transaction fees for automated teller machines (ATMs). The increment affect transactions across the country, taking effect from March 1, 2025. This was contained in a circular signed by the Acting Director of the Financial Policy and Regulation Department, John Onojah, on Tuesday. According to … Read more