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Tag Archives: CBN

CBN pegs cash withdrawal, imposes charges above limit

Grace Okon The Central Bank of Nigeria has stated that as from 9th of January 2023 they would be limit withdrawal of cash from the counter for both individual and organisations within N50,000 for individuals and N100,000 for organisations weekly. This was directed via a statement signed by Haruna B. …

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CBN names Remita as Payment Service Provider of the year

The Central Bank of Nigeria has adjudged Remita Payment Services Limited(RPSL)  as the winner of the “Payment Service Provider of the year”  award.  The award was presented on the 24th of October, during the celebration of one year since the launch of the e-Naira-themed “eNaira365days.” The award serves as a …

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Polaris Bank gets new owner

The Central Bank of Nigeria (CBN) and the Asset Management Company of Nigeria (AMCON) have announced the completion of a Share Purchase Agreement (SPA) for the acquisition of 100% of the equity in Polaris Bank (‘Polaris’ or ‘the Bank’) by Strategic Capital Investment Limited (‘SCIL’). Polaris has been operating as …

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MAMA Centre secures N500,000 FG- CBN Covid-19 facility for dozens rightholders

Bukola Afeni The Mothers And Marginalised Advocacy Centre (MAMA Centre) has secured N500,000 worth Federal Government(FG)/Central Bank of Nigeria (CBN) Covid-19 facility for each of her dozens rightholders across Nigeria.The FG-CBN supported facility obtained through NIRSAL Microfinance Bank, constitutes part of the commitment by MAMA Centre to mitigate socio-economic impacts …

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CBN mandates Bankers Committee to provide access to SME financing

The Bankers Committee has been mandated by the CBN to develop strategies that will increase access for SMEs to available financing. Several initiatives such as road shows and media campaigns have been organised in the past. “Previously the committee embarked on a major initiative aimed at sensitizing the business community …

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