Supreme Court on Friday, July 17, 2026 affirmed the final forfeiture of seven landed properties, the sum of $2,045,000 (Two Million, Forty-Five Thousand United States Dollars) and share certificates linked to a former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government of Nigeria. In...
Central Bank of Nigeria (CBN)
The absence of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his counsel, Olalekan Ojo, SAN, on Thursday, July 16, 2026, stalled the continuation of his trial before Justice Maryanne Anenih of the Federal Capital Territory (FCT), High Court, Maitama, Abuja, over the alleged unlawful...
House of Representatives Public Accounts Committee has intensified its investigation into the alleged failure of the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and other government-owned enterprises to remit operating surplus due to the Federal Government. During a hearing on Tuesday, the committee directed the Office...
The Tinubu presidency is caught in a web from its own DNA. A grand Ponzi scheme born and bred in the bowels of the presidency has burst into the open. A famous con man ostensibly hired by highly placed officials has been exposed. His elaborate scheme of floating a...
Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of depositors of the 46 microfinance banks whose operating licences were recently revoked by the Central Bank of Nigeria (CBN). The exercise is aimed at facilitating the refund of deposits trapped in the failed financial institutions. In a statement issued...
Central Bank of Nigeria (CBN) has assured Nigerians that both the standard ₦100 banknote and the commemorative ₦100 note remain valid for use across the country, warning that refusing to accept either of them is against the law. The clarification followed reports that some individuals, businesses and even financial...
Providus Bank and Unity Bank have officially completed their merger and are now operating under a new name, ProvidusUnity Bank. The development marks the formal integration of the two financial institutions as part of efforts to create a stronger banking entity with a wider reach and enhanced service delivery....
A member of the Central Bank of Nigeria’s Monetary Policy Committee, Professor Murtala Sabo Sagagi, has urged the apex bank to take additional measures to reduce lending rates for households and businesses, saying the successful completion of the banking sector recapitalisation exercise should translate into more affordable credit. In...
The 15th Prosecution Witness, PW15, Jim Osayande Obazee, in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Friday, July 3, 2026 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja that the $6.2 million allegedly earmarked for...
The trial of the former governor the Central Bank of Nigeria, CBN, Godwin Emefiele, before Justice H.Muazu of the Federal Capital Territory High Court, Abuja, continued on Thursday, July 2, 2026, with the 14th Prosecution Witness, PW14, Okpoziakpo Eloho, informing the court that the $6,230,000 (Six Million, Two Hundred and...
Nigeria Deposit Insurance Corporation (NDIC) has paid N51.04 billion in insured deposits to customers of Heritage Bank following the revocation of the bank’s operating licence. The Executive Director, Operations, NDIC, Mr. Mustapha Sunday, disclosed this at a stakeholder engagement session organised by the Federal Ministry of Finance in Abuja....
Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Friday, June 26, 2026, adjourned proceedings in the alleged $4.5 billion fraud trial involving a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his co-defendant, Henry Omoile, till July 9, 2026, for...
Central Bank of Nigeria (CBN) has directed banks and other financial institutions across the country to immediately freeze the accounts, assets and financial transactions of 6 individuals and four Bureau De Change (BDC) operators over alleged links to terrorism financing. The directive was contained in a circular dated June...
Central Bank of Nigeria (CBN)has launched the CBN Naira Ambassadors Club to promote respect for and proper handling of the Naira among young Nigerians. CBN Governor Olayemi Cardoso inaugurated the club in the Federal Capital Territory with secondary school students as pioneer members. He said the Naira is legal...
Nigerian banks and their customers lost a combined N134.48bn to fraud between 2020 and 2025, according to data contained in the CBN’s ‘Nigeria Payments System Vision 2028 document.’ The document, obtained from the apex bank’s website, showed that attempted fraud across the banking and payments ecosystem amounted to N187.79bn...
Central Bank of Nigeria (CBN) has directed all financial institutions with digital payment operations to disclose the Ultimate Beneficial Ownership of significant shareholders, citing concerns over transparency, market concentration and data localisation. In a circular issued Monday June 15 to Deposit Money Banks, Payment Service Providers, fintechs and other...
Central Bank of Nigeria (CBN), through the Debt Management Office (DMO), is set to offer N1 trillion worth of Nigerian Treasury bills for subscription at Wednesday’s primary market auction as authorities step up efforts to control liquidity in the financial system. According to a revised second-quarter Treasury bills issuance...
Central Bank of Nigeria (CBN) has increased its yields on Treasury Bills at its latest primary market auction as investor demand surged to more than three times the amount offered. The auction, conducted through the Debt Management Office, offered ₦700 billion across three maturities. The CBN allotted ₦1.243 trillion...
Central Bank of Nigeria (CBN) has approved Abbey Mortgage Bank Plc’s conversion to a regional commercial bank, clearing the lender to offer full banking services beyond mortgages. The approval was announced in a regulatory filing to the Nigerian Exchange. The bank has also changed its name to Abbey Bank...
Central Bank of Nigeria (CBN) overhauled its top leadership on June 1, 2026, redeploying all four Deputy Governors to new directorates in a bid to sharpen monetary policy and boost operational efficiency. The changes, now updated on the CBN website, rotated the DGs across Economic Policy, Corporate Services, Operations,...