cbn

More money for Nigerians as CBN asks banks to pay higher interest on savings The rate has been revised from 10 per cent to 30 per cent of the Monetary Policy Rate (MPR). The Central Bank of Nigeria has raised the minimum interest rate on Naira savings deposits from 0.15 percent to 4.2 per cent...

What is eNaira? eNaira is a central bank digital currency (CBDC) issued by the Central Bank of Nigeria as a legal tender. It is the digital form of the Naira and will be used just like cash. What is an eNaira wallet? The eNaira wallet is a digital storage that holds the eNaira. It is held and...

AbokiFX has reacted to Central Bank of Nigeria Governor, Godwin Emefiele declaring its owner, Oniwinde Adedotun wanted on grounds of allegedly manipulating the Nigerian forex market with the platform and allegedly engaging in “illegal foreign exchange transactions”. In a notice shared on its...

The Central Bank of Nigeria (CBN) has agreed in principle to mint The Gambian Dalasi. The CBN Governor, Mr. Godwin Emefiele, agreed to the currency minting proposal from the Governor of the Central Bank of the Gambia, Mr. Buah Saidy, who led a delegation to visit him on Tuesday, June 15...

The Central Bank of Nigeria has condemned the rate at which Nigerians mutilate, deface, squeeze and even spray and sell the naira notes. The apex bank threatened that “abuse of the currency attracts a penalty of not less than six months or a fine of not less than N50,000 or both.” An...

Nigeria will soon create its digital currency, the Central Bank of Nigeria said Tuesday as the bank continues to face questions over its ban on cryptocurrency transactions in the country. The governor of the CBN, Godwin Emefiele, said this while addressing journalists after a two-day meeting...