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 »
March 03
Nigeria: Bua Cement Grows Revenue By 27.4 Percent to N460bn in 2023
BUA Cement Plc, has posted a revenue growth of 27.4 per cent to N460 billion for the year ended December 31, 2023. Read more »
February 26
Nigeria: Only 25 Percent of Vehicles in Nigeria Insured - FRSC, NIA
As most Nigerians battle economic hardship, leading to low disposable income, the number of uninsured vehicles on Nigerian roads has risen to about 9million, LEADERSHIP can now… Read more »
Nigeria: 'Peg Customs Exchange Rate At N1000/$1 to Ease Hardship'
Following the adjustment of the exchange rate for importation more than six times this year, the Central Bank of Nigeria (CBN) has directed that the rate to be used by the Nigerian… Read more »
Nigeria: CBN Pegs Purchase of Dollars in Cash At $500
The Central Bank of Nigeria (CBN) has pegged the payment of cash dollar purchase to a customer at $500 saying that the foreign currency (FX) exceeding this amount will be made… Read more »
February 21
Nigeria: CBN's Move to Restore Confidence, Boost Forex Liquidity
The Central Bank of Nigeria has in the past week issued series of circulars aimed at boosting liquidity in the foreign exchange market as well as ensuring stability of the banking… Read more »
Nigeria: Federal Govt Begins Audit of N22.7trn CBN Ways and Means Loan
The federal government has said it is conducting an audit of the N22.7 trillion Ways and Means loans of the Central Bank of Nigeria (CBN) to the federal government during the… Read more »
February 17
Nigeria: Royal Exchange Reshuffles Management Team for Efficiency
Royal Exchange General Insurance Company(REGIC) has reshuffled its management team for efficiency with the addition of four professionals on its team, reinforcing its commitment to… Read more »
Nigeria: Access Bank Boosts Financial Well-Being of Customers
Access Bank announced a range of special valentine offers to spread love and financial well-being for its customers all through the month of February. Read more »
Nigeria: Valentine - Sovereign Trust Insurance Distribute Items to Lawma Officials
Sovereign Trust Insurance(STI) Plc added a novel twist to the celebration of love(Valentine) as staff members of the organisation took to the streets to spread love to workers of… Read more »
February 14
Nigeria: Banking Credit to Economy Rises By 44 Percent to N96.2trn
Total credit to the Nigerian economy at the end of last year by the banking industry rose by 44.8 per cent year on year to N96.2 trillion according to latest credit data made… Read more »
Nigeria: Improving Forex Liquidity to Boost Reserves
When the Governor of the Central Bank of Nigeria Mr Olayemi Cardoso mounted the microphone on the floor of the House of Representatives to reveal the frightening figure of the… Read more »
Nigeria: CBN Makes 1st Forex Market Intervention in 5 Months, Sells $86m
The Central Bank of Nigeria (CBN) intervened in the foreign exchange market for the first time in five months, to provide some liquidity and reduce pressure on the local currency. Read more »
February 10
Nigeria: Law Bars Central Bank From Advancing More Loans to Govt - Cardoso
The Central Bank of Nigeria has said it can no longer advance loans to the federal government through the Ways and Means as Section 38 of the CBN Act (2007) bars it from doing so… Read more »
February 02
Nigeria: CBN's Takeover of Sales Proceeds From NNPCL Illegal - Atiku
Former vice president Atiku Abubakar has said the directive by the federal government for the Central Bank of Nigeria (CBN) to take over the responsibility for crude oil sales… Read more »
December 26, 2023
Nigeria: Emefiele and the Alleged Rot At Central Bank of Nigeria
Corruption has long been a scourge on Nigeria's economic landscape, a scourge which has hindered development and perpetuated mass poverty. Indeed, Nigerians are unfortunately used… Read more »
Nigeria: Union Bank - Again, CBN Investigator Invites Titan Trust Bank Officials
The special investigator appointed by President Bola Tinubu to probe the activities of the Central Bank of Nigeria (CBN), Jim Obazee, has once again invited three top officials of… Read more »
December 20, 2023
Nigeria: CBN Insists Building $1trn Economy Requires Strengthening of Nigerian Banks
The Central Bank of Nigeria (CBN) has disclosed that the proposed bank recapitalisation is needed as a fuel for the government's $1 trillion economy ambition and a sustainable… Read more »
December 19, 2023
Nigeria: UBA Secures $175m AfDB Loan to Support Private Sector, Infrastructure Development
Towards enhancing its support to the private sector and financing of infrastructure development in Africa's largest economy, Nigeria, the United Bank for Africa (UBA) has received… Read more »
November 15, 2023
Nigeria: CBN Ways and Means Fuelled Inflation, Weakened Naira - Sanusi
Former governor of the Central Bank of Nigeria, Muhammad Sanusi II, has said the apex bank's lending to the federal government under the administration of former President… Read more »
November 12, 2023
Nigeria: Declare Close Relatives, Connections With Politically Exposed Persons, Central Bank Tells Staff
The Central Bank of Nigeria (CBN) has issued a directive requiring its staff to declare 'close relatives' employed by the bank and disclose any connections to Politically Exposed… Read more »