NDIC to pay first tranche of liquidation dividends to Heritage Bank depositors in April
The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will begin the first round of payments to customers of the closed Heritage Bank this April. This update was shared during the NDIC Special Day at the 36th Enugu International Trade Fair. The NDIC Managing Director, Bello Hassan, who was represented by Pamela Robert, the […]
Investors regaining confidence in Nigeria – Cardoso
Nigeria is gaining back the trust of investors, according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. He pointed out that recent visits from top executives of JP Morgan, Citi Bank, and the International Monetary Fund (IMF) show that confidence in the country’s economy is growing. Speaking at a meeting with […]
LG crisis: Sacked APC LG officials dare not approach CBN – Osun govt
The Osun State Government has issued a strong warning to sacked local government officials from the All Progressives Congress (APC), cautioning them against approaching the Central Bank of Nigeria (CBN) to open local government accounts. During a media briefing at the Osun State Government Secretariat, Commissioner for Information and Public Enlightenment, Kolapo Alimi, stated that […]
Rivers crisis: PANDEF wants Supreme Court ruling reversed
The Pan-Niger Delta Forum (PANDEF) has asked the Supreme Court to reconsider its ruling on Rivers State. The group believes that the judgment could negatively impact governance and the well-being of the people. The Supreme Court recently ruled that the Central Bank of Nigeria (CBN) should stop releasing monthly federal allocations to Rivers State. The […]
Rivers Assembly crisis: Supreme court stops CBN from releasing funds to Rivers govt, orders resumption of 27 defected lawmakers
The Supreme Court has ruled that the Central Bank of Nigeria (CBN) and the Accountant General of the Federation must not release funds to the Rivers State government. This decision reinstates an earlier order that was overturned by the Court of Appeal. The court also directed the faction of the Rivers State House of Assembly, […]
BREAKING: Emefiele loses bid to halt trial as judge rejects recusal request
A Lagos court has refused to stop the corruption trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The Special Offences Court, led by Justice Rahman Oshodi, dismissed Emefiele’s request for the judge to step down from the case. On Wednesday, Justice Oshodi ruled that the claims of bias made against him were […]
Senate accuses CBN of frustrating N30tn Ways and Means probe
The Nigerian Senate has accused the Central Bank of Nigeria (CBN) of not cooperating with its investigation into the N30 trillion Ways and Means loan given to the last administration from 2015 to 2023. The Senate’s ad-hoc committee, led by Senator Jibrin Isah, is examining how the funds were used, especially in covering government budget […]
Ex-CBN Gov, Emefiele distances self from ownership of purported forfeited properties
The former Governor of the Central Bank of Nigeria (CBN), Godwin Ifeanyi Emefiele, has denied any ownership of properties recently forfeited to the Nigerian government. In a statement released by his legal team, he clarified that while some of the assets belong to his relatives, neither he nor his immediate family own them. Emefiele’s statement […]
Naira Appreciates To ₦1,530/$ In Parallel Market
The Nigerian Naira showed mixed performance in the foreign exchange market today. It appreciated in the parallel market, trading at ₦1,530 per dollar, an improvement from ₦1,540 per dollar on Thursday. However, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated to ₦1,502.5 per dollar, down from ₦1,496 per dollar the previous day. This […]
CBN retains Nigeria’s interest rate at 27.50% amid inflation drops
decided to keep the country’s interest rate at 27.50% in January 2025. This is the same rate set in November 2024, even as inflation has started to decrease. CBN Governor, Olayemi Cardoso, made this announcement after the 299th Monetary Policy Committee (MPC) meeting in Abuja. He explained that the committee chose to maintain the rate […]