June 13
Nigeria: CBN Tightening of Monetary Policy Won't Ease Inflation - World Bank
Contrary to predictions by analysts, tightening of the monetary policy by the Central Bank of Nigeria (CBN) might not effectively curb inflation, the World Bank has stated. Read more »
June 10
Nigeria: CBN Reassures Public On Bank Deposit Safety, Dismisses Licence Revocation Fears
The Central Bank of Nigeria (CBN) has again reassured members of the banking public of the safety of their deposits and the banking system's resilience. Read more »
Nigeria: Cardoso Urged to Follow CBN's Manual for Staff Reduction
Conference of Autochthonous Ethnic Communities Development Association (CONECDA) has appealed to the Central Bank of Nigeria (CBN) Governor Yemi Cardoso to follow established… Read more »
June 05
Nigeria: Msmes - Dbn, Giz Launch Equipment Leasing Initiative
The Development Bank of Nigeria (DBN) in partnership with Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) has launched an innovative MSME Equipment Leasing… Read more »
June 04
Nigeria: CBN Denies Plans to Revoke Licences of Unity, Polaris, Keystone Banks
The Central Bank of Nigeria (CBN) has announced that it has no plan to revoke the licences of Unity, Polaris, and Keystone banks. Read more »
May 28
Nigeria: Again, Zenith Bank's Ebenezer Onyeagwu Bags Best CEO Award
The group managing director/chief executive officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named the 'Best Banking CEO of the Year in Africa' at the International… Read more »
May 22
Nigeria: CBN Directs All BDCS to Reapply for New Licences
The Central Bank of Nigeria (CBN) has directed all Bureau de Change operators (BDCs) in the country to reapply for new operational licences by June 3, 2024 in order to continue to… Read more »
May 21
Nigeria: Breaking - CBN Upbeat, Raises Interest Benchmark to 26.25 Percent
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised interest rate benchmark in an aggressive tightening spree for the third time since Olayemi… Read more »
Nigeria: AfDB, EU Brainstorm Over Nigeria's Dilemma to Connect 95m Rural Dwellers to Electricity
The European Union (EU) and African Development Bank (AfDB) are in the process of redefining their financing grants to catalyse Nigeria's electricity industry which is struggling… Read more »
May 17
Nigeria: CBN Can Collect Customers' Social Media Handles, Court Rules
Justice Nnamdi Dimgba of the Federal High Court in Lagos has held that the Central Bank of Nigeria (CBN) is constitutionally empowered to demand and collect the social media… Read more »
May 14
Nigeria: Recapitalisation - Investors Set for N3.894trn Stake in Banks
As the banks begin their recapitalisation exercise, analysts say the capital market investors are set for the N3.894 trillion stakes in the banks, just as the Nigerian Exchange… Read more »
May 08
Nigeria: CBN Releases List of Licensed Deposit Money Banks in Nigeria
The Central Bank of Nigeria (CBN) has published a comprehensive list of licensed Deposit Money Banks operating across the country, providing valuable insights into Nigeria's… Read more »
May 07
Nigeria: 5 Things to Know About CBN's Cybersecurity Levy to Be Paid By Nigerians
In a significant move to bolster national cybersecurity, the Central Bank of Nigeria (CBN) has issued a directive to all banks and financial institutions to implement a… Read more »
April 29
Nigeria: Recapitalisation - Banking Stocks Decline By N2.069trn in 16 Days
Nigeria's listed banking stocks' value declined by N2.069 trillion in 16 trading days following the announcement of the recapitalisation exercise by the Central Bank of Nigeria… Read more »
April 21
Nigeria: How Adeduntan Resigned As First Bank CEO On CBN's Order
There are strong indications that the sudden resignation of former Managing Director and CEO of First Bank, Dr Adesola Adeduntan was triggered by directives from the Central Bank… Read more »
April 14
Nigeria: 6 Banks Spend N205.34bn On It Amid E-Payment Boom
Six commercial banks increased their spending on information and technology (IT) by 44.66 percent to N205.34 billion as more customers carried out electronic transactions,… Read more »
April 10
Nigeria: UBA Grows Gross Earnings By 143 Percent, Profit Hits N757.7bn in 2023
United Bank for Africa (UBA) Plc has proposed a final total dividend of N78.658 billion, representing N2.30 per share even as it recorded gross earnings growth of 143 per cent and… Read more »
April 04
Nigeria: Student Loan - Everything You Need to Know
President Bola Tinubu a couple of days ago signed a pivotal piece of legislation into law aimed at transforming tertiary education financing in Nigeria. Read more »
March 28
Nigeria: CBN Pegs Minimum Capital Bases for Banks At N500bn, N200bn
Days after urging Nigerian banks to expedite action on the recapitalisation of their capital base in order to strengthen the nation's financial system, the Central Bank of Nigeria… Read more »
Nigeria: Reps Panel Accuses CBN, Banks of Sharing N15bn Remittance
The House of Representatives' Committee on Public Accounts has accused the Central Bank of Nigeria (CBN) and commercial banks of complicity in the sharing of the N15 billion… Read more »
March 27
Nigeria: Insurance Assets Rises By 27 Percent, Hits N2.67trn
Nigeria's insurance industry recorded a significant improvement in real terms as the market recorded total assets of N2.67 trillion and capitalisation of N851 billion in 2023,… Read more »
March 25
Nigeria: Just-in - CBN Begins Forex Sales to BDCS At N1,251/$1
The Central Bank of Nigeria (CBN) has issued a circular addressed to Bureau De Change operators (BDCs), revealing that each BDC has been allocated $10,000 at a rate of N1,251/$1. Read more »
March 22
Nigeria: 36 Percent of Nigerian Major Banks' CEOs Now Women
Formerly dominated by men, the Nigerian banking industry is gradually being overtaken by female banking gurus as the number of women leading the major banks in the country has… Read more »
March 20
Nigeria: CBN Clears Valid Forex Transactions, Eliminates $7bn Legacy Backlog
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs have now been settled, thereby fulfilling a key pledge of the CBN governor, Olayemi… Read more »
March 13
Nigeria: CBN Raises Customs Duty Rate to N1,624.7/$1 As Naira Weakens
The Central Bank of Nigeria (CBN) has raised the exchange rate for calculating Customs duties at the nation's seaports by 1.9 per cent following further depreciation in the value… Read more »