Tag Archives: CBN

CBN Instructs Banks to Begin Payment of New Naira Notes

The Central Bank of Nigeria has directed all commercial banks to start paying the new naira notes to customers over-the-counter in the banking halls. The development was confirmed in a statement on Thursday by the bank’s Director of Corporate Communications, Osita Nwanisobi. The apex bank assured Nigerians that the queues …

Read More »

Banks Lending Rate To Customers Rises To 29.13%

Godwin Emefiele Figures obtained from the Central Bank of Nigeria on money market indicators, on Monday, have revealed that the maximum lending rate in the banking sector has hit 29.13 per cent while savings deposit rates was 4.13 per cent as of the end of December 2022. Prime lending rate …

Read More »

CBN disowns fraudulent loan, investment offers via SMS

The Central Bank of Nigeria (CBN) has dissociated itself from fraudulent messages and videos on social media requesting loan seekers and small business owners to apply for loans purportedly facilitated by the bank. In a statement of disclaimer signed by Acting Director, Corporate Communications, CBN, Osita Nwanisobi, Titled, “Beware of …

Read More »