P&ID Case Lawyers Urge Procurement Reform, Applauds CBN Legal Counsel

P&ID Case Lawyers Urge Procurement Reform, Applauds CBN Legal Counsel

By Oluwakemi Kindness The Federal Government has received critical recommendations from foreign legal counsel who successfully represented Nigeria in the high-profile legal battle against Process & Industrial Developments Ltd. (P&ID), aimed at preventing future contractual disputes. The legal experts emphasized the importance of implementing robust safeguards when entering into high-value contracts. Central to their recommendations is the need to strengthen the nation's procurement processes and ensure comprehensive due diligence on […]

May 23, 2025 9 2 2

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Economy

CBN Reassures Public on Banking Sector Stability

By Oluwakemi Kindness The Central Bank of Nigeria, CBN, has reassured the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. The reassurance by the CBN follows certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution. The CBN in a statement says like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, […]

May 20, 2025 6 5

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Economy

CBN Simplifies BVN Registration for Nigerians in Diaspora

By Oluwakemi Kindness The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has officially launched the Non-Resident Bank Verification Number (NRBVN) platform—a secure digital gateway enabling Nigerians living abroad to obtain their Bank Verification Number (BVN) without having to be physically present in the country. The platform is designed to enhance financial inclusion, streamline identity verification, and facilitate easier access to banking services for […]

May 14, 2025 16 2

Economy

CBN Alerts Public Against Scam Contracts and Fraudulent Claims

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has reiterate warnings that it has not authorised, licensed, or appointed any individual, group, or organisation to act as an agent or intermediary in offering contracts, financial grants, or intervention funds to the public. The CBN in a statement on Monday also notes that it did not endorse or support such claims in any form. "The attention of the Central Bank […]

May 12, 2025 7

3

Economy

CBN Revises Documentation Requirements For PAPSS Transactions

By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment & Settlement System (PAPSS) in Nigeria. According to a statement by the Bank on Monday, this initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa Launched by Afreximbank in […]

April 29, 2025 10 3

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Media

CBN’s Sidi-Ali Wins Banking Sector Outstanding Spokesperson Award

By Oluwakemi Kindness The Central Bank of Nigeria's (CBN), Hakama Sidi-Ali has won the Outstanding Spokesperson, (Banking Sector) at the 2025 National Spokespersons Awards, the second in a row. She was named at a ceremony held in Abuja as part of the 2025 National Spokespersons’ Summit grand finale. According to the Nigeria Institute of Public Relations (NIPR) the awards celebrate innovation and professionalism in public communication across public and private […]

April 19, 2025 20 4 3

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Economy

We Can Withstand Shocks From Trade War – CBN

By Oluwakemi Kindness The Central Bank of Nigeria, CBN, says it is well prepared to handle the pressure and shocks from the ongoing trade wars between the U.S and China. The Apex bank explained that it is reviewing emerging scenarios to enable it take diligent actions to weather any form of storm that may arise for the country. The Director, Banking Supervision of the CBN, Dr. Olubukola Akinwumi, stated this […]

April 14, 2025 20 21

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Economy

CBN Reports Net Reserve Of $23.11bn For 2024

Oluwakemi Kindness The Central Bank of Nigeria (CBN) on Tuesday reports a substantial improvement in its Net Foreign Exchange Reserve (NFER) position as of the end of 2024. The NFER stands at $23.11 billion, the highest level in over three years, marking ab increase from $3.99 billion at year-end 2023, $8.19 billion in 2022, and $14.59 billion in 2021. This reflects a substantial improvement in the country’s external liquidity, […]

April 1, 2025 14 4

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News

IWD; CBN Governor Champions Gender Equity, Records Senior Female Appointments

Oluwakemi Kindness The Central Bank of Nigeria (CBN) says women now constitute 35% of its directors and half of its Non-Executive Board, underscoring the institution’s deepened commitment to inclusive and representative leadership. This is according to the Governor of the CBN, Olayemi Cardoso, who reaffirmed the Bank’s mission to achieve gender-balanced leadership while speaking at the grand finale of the International Women’s Day (IWD) celebrations at the CBN Head Office […]

March 28, 2025 12 6

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