CBN/Commercial Banking

Feb
17
2026
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By Abia ThinkTank
”I Withdrew Everything’- Man Closes UBA Accounts After Tony Elumelu Supports Tinubu

”I Withdrew Everything’- Man Closes UBA Accounts After Tony Elumelu Supports Tinubu

CBN/Commercial Banking, News Flash, Politics
‘I Withdrew Everything’- Man Closes UBA Accounts After Tony Elumelu Supports Tinubu Nigerian-born health communication specialist, Ugochukwu Madu, has reportedly closed all his accounts with United Bank for Africa (UBA) following recent comments by the bank’s chairman, Tony Elumelu, in support of President Bola Ahmed Tinubu’s economic reforms. Madu announced his decision shortly after Elumelu publicly endorsed the President’s ongoing policy measures, sparking mixed reactions online. Elumelu made his remarks after a private session with the President at the Presidential Villa in Abuja. Addressing journalists, he described the government’s ongoing reforms as necessary steps to stabilise the economy and promote…
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Feb
13
2026
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By Abia ThinkTank
Valentine’s Day: CBN Lists Money Bouquets As Offence

Valentine’s Day: CBN Lists Money Bouquets As Offence

CBN/Commercial Banking, Economy, News Flash
Valentine’s Day: CBN Lists Money Bouquets As Offence As Valentine’s Day draws near, the Central Bank of Nigeria’s (CBN) 2023 warning against money bouquets is making the rounds again. The apex bank had classified money bouquets, a popular gift among lovers, as a form of naira abuse. In a flier shared on its official Twitter handle in 2023, the CBN listed money bouquets alongside other prohibited practices, including spraying, selling, squeezing, and defacing naira notes. Citizens were urged to report incidents of naira abuse, with the CBN emphasising: “It is your civic duty to protect the naira. Report naira abuse…
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Feb
12
2026
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By Abia ThinkTank
CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly

CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly

CBN/Commercial Banking, Economy, FGN
CBN Approves BDCs’ Return To Forex Market, Allows Purchase Of Up To $150,000 Weekly The Central Bank of Nigeria (CBN) has authorised licensed Bureau De Change (BDC) operators to resume participation in the Nigerian Foreign Exchange Market (NFEM), in a move aimed at improving liquidity and enhancing access to foreign exchange in the retail segment. The approval was contained in a circular signed by the Director of the Trade and Exchange Department, Dr Musa Nakorji. The circular stated that each licensed BDC is permitted to purchase up to $150,000 weekly, subject to compliance with existing operational guidelines. Under the new…
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Jan
28
2026
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By Abia ThinkTank
Man Chooses 1-Year Imprisonment Instead Of Refunding N1.5 Billion Mistakenly Paid Into His Account

Man Chooses 1-Year Imprisonment Instead Of Refunding N1.5 Billion Mistakenly Paid Into His Account

CBN/Commercial Banking, Crime, Judiciary, News Flash
Man Chooses 1-Year Imprisonment Instead Of Refunding ₦1.5 Billion Mistakenly Paid Into His Account A Nigerian man has sparked widespread reactions online after reportedly choosing to serve a one-year jail term rather than refund ₦1.5 billion mistakenly credited to his First Bank account. The incident was shared on X (formerly Twitter) by user @arhermadd, who identified the man as Ogo Ehosa Kingsley. According to the post, Kingsley allegedly diverted the funds for personal use after the erroneous credit hit his account between June and November 2025. The matter was taken up by the Economic and Financial Crimes Commission (EFCC), which…
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Oct
29
2025
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By Abia ThinkTank
CBN Finally Speaks On Alleged Allocations Of $1.3 Billion For Fuel Import

CBN Finally Speaks On Alleged Allocations Of $1.3 Billion For Fuel Import

CBN/Commercial Banking, Economy, FGN
CBN Finally Speaks On Alleged Allocations Of $1.3 Billion For Fuel Import The Central Bank of Nigeria (CBN) has refuted the report that it allocated $1.269 billion foreign exchange for the importation of petroleum products in the first quarter of the year. It said in a statement on Tuesday that the report was misleading and inaccurate. “The Central Bank of Nigeria (CBN) has noted some misreporting that falsely implies the Bank disbursed US$1.259 billion to major oil sector operators for the importation of refined petroleum products and related items. Such reporting is entirely inaccurate and misleading,” the statement said. The…
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Oct
09
2025
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By Abia ThinkTank
Nigeria Has Pulled Back From Economic Collapse – Emir Sanusi Hails CBN Reforms

Nigeria Has Pulled Back From Economic Collapse – Emir Sanusi Hails CBN Reforms

CBN/Commercial Banking, Columns/Opinions/Letters, Economy
Nigeria Has Pulled Back From Economic Collapse – Emir Sanusi Hails CBN Reforms Former Central Bank of Nigeria (CBN) Governor, Sanusi Muhammadu Sanusi, has praised the current leadership of the apex bank for what he described as a “remarkable turnaround” in Nigeria’s monetary and economic stability. Speaking on recent economic developments, Sanusi said he had “nothing but positive words” for the CBN’s policies, noting that the institution had successfully stabilized the exchange rate and curbed the reckless monetary expansion that once threatened the economy. “We came from a period of very high instability due to loose monetary policy and uncontrolled…
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Sep
17
2025
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By Abia ThinkTank
N22.7trn Printed Under Buhari’s Govt ‘Collapsed’ Nigeria’s Economy – Ex-Speaker Dogara

N22.7trn Printed Under Buhari’s Govt ‘Collapsed’ Nigeria’s Economy – Ex-Speaker Dogara

Economy, CBN/Commercial Banking, FGN, Interviews
N22.7trn Printed Under Buhari’s Govt ‘Collapsed’ Nigeria’s Economy – Ex-Speaker Dogara Former Speaker of the House of Representatives, Yakubu Dogara, has attributed the decline in the value of the naira to the economic policies of the previous administration, which printed and injected N22.7 trillion into the economy. Dogara also described the foreign loan and crude oil-tied measures that sustained it as nothing short of voodoo economics. Noting that the policy under late President Muhammadu Buhari undermined the currency’s value, Dogara argued that the massive liquidity injection, coupled with dual exchange rates and unproductive forex allocations, left the nation’s economy teetering…
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Aug
30
2025
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By Abia ThinkTank
Access Holdings Appoints New Managing Director/CEO

Access Holdings Appoints New Managing Director/CEO

CBN/Commercial Banking, News Flash
Access Holdings Appoints New CEO Access Holdings Plc has confirmed the appointment of Innocent Ike as its new Group Managing Director and Chief Executive Officer, effective August 29, 2025, following the approval of financial regulators. The decision brings an end to the 18-month acting tenure of Bolaji Agbede, who assumed leadership of the financial services giant after the sudden death of former CEO Herbert Wigwe in February 2024. Agbede led the group through the transition marked by regulatory pressures and investor concerns. However, the Central Bank of Nigeria’s stipulation on minimum experience for financial holding company CEOs prevented her confirmation.…
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Aug
15
2025
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By Abia ThinkTank
How USD 263.80 Million Will Boost Governor Otti’s Road Revolution Agenda And Create More Jobs For Abians – By Ebere Uzoukwa, Ph.D(SSA To Governor Otti On Public Affairs)

How USD 263.80 Million Will Boost Governor Otti’s Road Revolution Agenda And Create More Jobs For Abians – By Ebere Uzoukwa, Ph.D(SSA To Governor Otti On Public Affairs)

Columns/Opinions/Letters, CBN/Commercial Banking, Economy, Good Governance
How USD 263.80 Million Will Boost Governor Otti’s Road Revolution Agenda and Create More Jobs for Abians By Ebere Uzoukwa, PhD The recent approval by the Federal Executive Council of the USD 125 million Islamic Development Bank financing facility for the Abia State Integrated Infrastructure Development Project marks another decisive step in Governor Alex Chioma Otti’s bold and methodical drive to rebuild Abia’s infrastructure. This financing forms part of a larger USD 263.80 million co-financing package, which also includes USD 100 million from the African Development Bank, USD 15 million from the Canada–Africa Development Bank, and USD 23.80 million counterpart…
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Aug
14
2025
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By Abia ThinkTank
President Tinubu Approves $125 Million Islamic Development Bank Facility For ABIA State Integrated Infrastructure Development Project (ABSIID)

President Tinubu Approves $125 Million Islamic Development Bank Facility For ABIA State Integrated Infrastructure Development Project (ABSIID)

Abia State, CBN/Commercial Banking, Economy, FGN, News Flash
Press Release: PRESIDENT TINUBU APPROVES $125 MILLION ISLAMIC DEVELOPMENT BANK FACILITY FOR ABIA STATE INTEGRATED INFRASTRUCTURE DEVELOPMENT PROJECT (ABSIID) The Abia State Government is pleased to announce that the long-awaited USD 125 Million Islamic Development Bank (IsDB) financing facility for the Abia State Integrated Infrastructure Development Project has been approved by the Federal Executive Council (FEC) at its meeting of Wednesday, August 13, 2025. This approval marks a major milestone in a project that has undergone extensive consultations and procedural steps, and is a critical component of the overall co-financing arrangement for the State’s ambitious infrastructure development drive. The project’s…
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