CBN Launches DocFlow, MDA Naira Payment Solutions

CBN Launches DocFlow, MDA Naira Payment Solutions

….aims to improve turnaround time, reduce costs By Oluwakemi Kindness Central Bank of Nigeria (CBN), has launch two transformative initiatives, the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. The launched by the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, at the CBN Head Office Abuja, is a continuation of the Bank’s digital revolution project tagged “Digital First” which was […]

January 16, 2025 8 5 2

3 3

Economy

CBN Insists Resignation Of 1,000 Staff Was Voluntary

By Oluwakemi Kindness The Central Bank of Nigeria (CBN), has refuted reports of it Termination and Dismissal of 1,000 members of it Staff. Rather it said staff took opportunity of the Bank's Early Exit Programme with payment of full benefits. This is according to the Governor of the apex bank, Olayemi Cardoso, who noted that the 1,000 members of staff who were disengaged were not forced to quit. He stated […]

January 4, 2025 15 3 3

2

Economy

CBN Reiterates Validity of Old Series of Naira Denominations

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) on Friday refuted misinformation regarding the validity of the old ₦1000, ₦500, and ₦200 banknotes currently in circulation. The apex Bank said in line with the it’s previous clarifications, it is reiterating that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the ₦1000, ₦500, and ₦200 denominations of the Naira indefinitely. […]

December 13, 2024 8 2

8

Economy

CBN Governor Says Recapitalisation Policy Has Strengthened Banks

By Oluwakemi Kindness The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the Bank's recapitalization policy, is expected to support the realisation of 1 trillion dollars economy by 2030. This was as he said the Bank's recapitalization policy has prompted banks to strengthen their financial positions, a process expected to result in a more robust and resilient banking sector by March 2026. Cardoso who stated this during […]

October 17, 2024 18 8

1

Economy

CBN Governor Champions We-Fi Code Declaration for Women Entrepreneurs

By Oluwakemi Kindness The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged stakeholders in the financial ecosystem to adopt the Women entrepreneurs Finance (We-Fi) Code as part of a collective drive to enhance the financial inclusion of women entrepreneurs across Nigeria. Cardoso stated this at the landmark event of Nigeria’s public declaration of commitment to the We-Fi Code, held at the CBN Head Office on Wednesday. […]

October 10, 2024 14 1

2

Economy

CBN Assures Nigerians Of The Safety Of Their Bank Deposits

By Oluwakemi kindness The Central Bank of Nigeria (CBN) on Tuesday assured Nigerians not to panic as it has put in place policies to ensure that all monies deposited in financial institutions across the country are secured. A statement by the apex bank’s Acting. Director, Corporate Communications, Hakama Sidi-Ali, reassured the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system. This development follows […]

October 8, 2024 20 2

3

Economy

CBN Introduces Electronic System To Enhance Transparency In Forex Market

By Oluwakemi Kindness The Central Bank of Nigeria has announced the introduction of an Electronic Foreign Exchange Matching System aimed at transforming the country’s foreign exchange market. The new system is set to be operational in the Nigerian Foreign Exchange Market by 1 December 2024, following a two-week test run scheduled from November. The EFEMS is expected to reshape how foreign exchange transactions are conducted in the interbank market by […]

October 4, 2024 20 3

Business

CBN Approves Unity Bank Plc and Providus Bank Merger

The Central Bank of Nigeria (CBN) has announced the approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. This strategic move the bank said is designed to bolster the stability of Nigeria’s financial system and avert potential systemic risks. The apex bank, in a statement on Tuesday by its acting Director of Corporate Communications, Hakama Sidi-Ali, said the merger is […]

August 7, 2024 16

#CBN