The Central Bank of Nigeria has published an extensive roster of authorized Deposit Money Banks functioning within the nation. The roster, disclosed on the CBN’s official...
A Senior Advocate of Nigeria (SAN), Kunle Adegoke, has expressed his dismay over the recent 0.5 per cent cybersecurity levy imposed by banks on electronic transfers....
The Centre for the Promotion of Private Enterprise, (CPPE) has stated that the newly introduced cybersecurity levy and other numerous taxes imposed by federal, state, and...
More Podcasts Nigeria Daily The Bearing Download HereIn a significant move to bolster national cybersecurity, the Central Bank of Nigeria (CBN) has issued a directive to...
The Central Bank of Nigeria has ordered banks to stop charges on cash deposits. The apex bank disclosed this in a May 6, 2024, circular signed...
The Central Bank of Nigeria (CBN) has released the full list of deposit money banks and other financial institutions in Nigeria. The list which was released...
The Nigeria Labour Congress, NLC, has rejected the recent order by the Central Bank of Nigeria, CBN, of 0.5 per cent cybersecurity levied on electronic transfers....
The Nigeria Labour Congress has rejected the recently introduced cybersecurity levy by the Central Bank of Nigeria and is demanding its immediate withdrawal. Naija News reported...
The Central Bank of Nigeria (CBN) has suspended the fees being charged on cash deposits by customers until September 30, 2024. The apex bank communicated the...
The Corporate Affairs Commission (CAC) has said that Point of Sales (PoS) agents of major fintechs in Nigeria including OPay, Palmpay, and Moniepoint, among others, must...
President of the Africa Fintech Network (AFN), Dr. Segun Aina, has attributed some of the regulatory challenges facing fintechs in Nigeria to the ever-changing nature of their...
The Central Bank Of Nigeria (CBN) has issued a two-month deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC)....
The Central Bank of Nigeria (CBN) on Monday directed banks to start the process of deducting cybersecurity levy to be administered by the office of the...
The First Lady, Oluremi Tinubu, has commended Second Lt. Oluchukwu Owowoh for emerging as the first Nigerian female cadet to graduate from the Royal Military Academy...
The Central Bank of Nigeria (CBN) on Monday, issued a new directive to all financial institutions, including commercial, merchant, non-interest banks, payment service banks, and mobile...
The Socio-Economic Rights and Accountability Project (SERAP) has given the Tinubu-led administration 48 hours to withdraw the cybersecurity levy directive issued by the Central Bank of Nigeria...
The presidential candidate of the African Action Congress (AAC) in the 2023 election, Omoyele Sowore has reacted to CBN’s new directive, which states that commercial banks...
Nigeria’s Central Bank will begin the implementation of an amended 2015 Cybersecurity Act that will levy a 0.5% fee on all electronic transactions on May 20,...
The Central Bank of Nigeria, CBN, has asked all banks in Nigeria to collect and remit a 0.5 per cent cyber security levy to the office...
The Central Bank of Nigeria has introduced a cyber security levy, which is expected to commence in the next two weeks. In a circular on Monday...
President of the Africa Fintech Network (AFN), Dr. Segun Aina, has said that some of the regulatory issues facing fintechs in Nigeria are due to the...
The Central Bank of Nigeria (CBN) has issued a new directive to all financial institutions, including commercial, merchant, non-interest banks, payment service banks, and mobile money...
The Central Bank of Nigeria (CBN) has ordered banks to enact the process of deduction of cyber security levy to be administered by the office of...
The federal government has announced its decision to remove the Naira from all peer-to-peer (P2P) exchanges. The Director General of the Securities and Exchange Commission, Emomotimi...
The monetary value of Nigeria’s circulating currency surged to ₦3.87 trillion at the end of March. Naija News reports that the recent money and credit statistics...
The value of Nigeria’s Currency in Circulation, CIC, increased to N3.87 trillion at the end of the first quarter of 2024 as money outside the banking...
Global credit ratings agency, Fitch Ratings, has projected further hike in monetary policy rates by the Central Bank of Nigeria (CBN) in the second half of...
Nigerian young resident population now feels more mistrust and bewilderment, because of the FG’s recent attack against Nigeria’s crypto industry A crackdown on peer-to-peer (P2P) cryptocurrency...
In light of a pivotal meeting scheduled for Monday between the Securities and Exchange Commission and digital asset operators, the Federal Government may consider suspending the...
Zenith Bank Plc, one of Nigeria’s leading banks, released its unaudited financial results for Q1 2024, revealing a pre-tax profit of N320.194 billion. This represents a...
Global credit ratings agency, Fitch, has revised Nigeria’s long-term credit default rating upward from stable to positive on the back of reforms in the foreign exchange market,...
Leading Nigerian fintech companies have issued stern warnings to their customers regarding the trading of cryptocurrencies and other virtual currencies on their platforms. Firms including OPay,...
Banks and other financial institutions across Nigeria have reinstated processing fees on large cash deposits following the expiration of the Central Bank of Nigeria’s (CBN) temporary...
One of Nigeria’s leading fintech companies, OPay, has warned its customers against trading in cryptocurrency or any virtual currency on its app. The company, in a...
The Nigerian Naira weakened further to N1,410/$ in the unofficial market on Friday afternoon as traders saw an aggravated demand for the dollar by parents and...
Nigerians have increased their hoarding of cash, with as much as 94% of the currency in circulation held outside banks by March 2024. An analysis of...
The exchange rate for customs duty collection has increased to N1,441.53 to the USD in the past two days from N1,373.64/$ at the beginning of the...
Wema Bank Plc, one of the nation’s oldest commercial banks, will seek shareholders’ approval to raise N200 billion in capital at the group’s annual general meeting (AGM)...
Nigerian banks have proven to be highly profitable. Last year alone, the publicly listed Nigerian banks are projected to surpass N3.5 trillion in profits for 2023,...
The National President of the Association of Bureau De Change Operators of Nigeria, ABCON, Aminu Gwadabe, discussed the recent Naira depreciation and solutions for stability. He attributed...
The International Criminal Police Organization for Africa (INTERPOL Africa) says they have completed the extradition papers for Nadeem Anjarwalla, Binance executive who fled detention in Nigeria....
The Centre for Promotion of Public Enterprise, (CPPE) has asked the Central Bank of Nigeria (CBN) to adopt a specific quarterly exchange rate for import duty...
The Centre for Promotion of Public Enterprise, (CPPE) has asked the Central Bank of Nigeria (CBN) to adopt a specific quarterly exchange rate for import duty...
Deputy governor of Financial System Stability of the Central Bank of Nigeria (CBN), Philip Ikeazor, has said that the rise in non-performing loans in the Nigerian...
The naira on Tuesday steadied at 1,350 per US dollar on the parallel market, popularly called black market.On Monday morning, the naira opened the foreign exchange...
Nigeria’s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria’s restriction. According to Nairametric, Opay disclosed this in...
A leading financial services provider, Opay has sent its customers a message concerning the safety of their funds. Recall that earlier reports had indicated that the...
The Nigerian Exchange Market Limited investors lost N3.57 trillion in market value in April as the All-Share Index experienced a significant decline amid the Central Bank...
OPay remains committed to working closely with the Central Bank of Nigeria (CBN) and other regulatory bodies to fight money laundering, fraud, terrorism financing, and other...
A Federal Capital Territory High Court, Abuja on Tuesday has adjourned the fresh arraignment of the suspended governor of the Central Bank of Nigeria (CBN), Godwin...
The Governor of Borno State, Babagana Zulum, has given his consent for the sale of two government-owned estates in Maiduguri, under the condition that the buyers...
Panic has gripped some bank customers following a recent directive from the Central Bank of Nigeria (CBN), which imposes a temporary ban on mobile money operators,...
Nigerian banks lost a total of N2.09 billion to frauds in Q4 2023 with mobile emerging as the top channel through which the largest amount was...
The Central Bank of Nigeria (CBN) has increased the exchange rate for the Nigerian Customs Service duty collection by N163. Hence, the latest exchange rate for...
The Central Bank of Nigeria (CBN) has increased the exchange rate for the Nigerian Customs Service duty collection by N163. Hence, the latest exchange rate for...
In partnership with Good morning ☀️ Before we get to today’s edition, here’s a reminder that we launched The Big Daily last week, it’s TC Daily...
The Central Bank of Nigeria (CBN) has issued a directive to four fintech companies, instructing them to temporarily stop onboarding new customers until further notice. The...
The Central Bank of Nigeria (CBN) has barred some online microfinance banks from opening new accounts and accepting new customers. Naija News reports that the microfinance...
The Nigerian Naira saw a notable increase in value against the US dollar in the parallel market, reaching N1,350. This marked a 2.20% rise from the...
The Central Bank of Nigeria (CBN), under Yemi Cardoso, has increased the monetary policy rate (MPR) by 600 basis points so far, from 18.75% to 24.75%...
The Central Bank of Nigeria (CBN) has directed four fintech companies to stop onboarding new customers until further notice. The four fintechs include OPay, Palmpay, Kuda...
Kuda Bank, Moniepoint, OPay and Palmpay have paused account opening for new customers following a directive from the Central Bank of Nigeria after the EFCC blocked...
The exchange rate for cargo clearance has dropped below official and parallel market rates to N1,164.84/$, according to the latest update on the Nigeria Customs Service’s...
For working-class Nigerians, surviving the monthly onslaught of inflation is tough. Before the International Labor Organization’s new definition of unemployment, Nigeria’s unemployed constituted nearly 40% of...
The Central Bank of Nigeria (CBN) has removed the data which provided a fresh loan of N3.8 trillion in Ways and Means to the federal government...
The Bola Tinubu-led Federal Government has gotten an additional N3.8 trillion in fresh Ways and Means borrowing from the Central Bank of Nigeria (CBN). This is...
The Nigerian Naira recorded a significant appreciation in the parallel market, strengthening to ₦1280/$ yesterday, as reported by Nairametrics from currency traders. This marked an impressive...
The Central Bank of Nigeria has said it is all out to tackle rising inflation in Nigeria. The acting director of the Banking Supervision Department of...
The naira has continued its recovery against the US dollar at the parallel market as it appreciated to N1280/$1 on Saturday, according to information obtained by...
The Acting Director, of the Banking Supervision Department of the Central Bank of Nigeria (CBN), Dr Adetona Adedeji, has affirmed the bank’s decision to prioritize combating...
Senator Ned Nwoko, representing Delta North, has cautioned the Federal Government and the Central Bank of Nigeria (CBN) against implementing any measures that could artificially boost...
In the last six months of 2023, the Federal Government of Nigeria received an additional N3.8 trillion in what appeared to be a fresh Ways and...
The Federal Government of Nigeria has incurred an additional N3.8 trillion in Ways and Means borrowing from the Central Bank of Nigeria (CBN) in the last...
The naira recorded significant depreciation against the haven currency in a matter of few weeks despite the recent decline in the US dollar index, influenced by...
The digital lending landscape in Nigeria has witnessed significant growth, with an array of licensed loan app companies offering credit facilities to both individuals and businesses....
A Federal Capital Territory High Court in Maitama has adjourned the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to June 24. The...
In 2023, Nigeria’s banking sector witnessed a substantial increase in lending activities amid interest rate hikes, reflecting both the resilience of the economy and strategic efforts to support...
The National Council on Privatisation (NCP) has revealed plans to merge NIRSAL Microfinance Ltd of the Central Bank of Nigeria with the Bank of Agriculture. The...
The National Council on Privatisation (NCP) on Wednesday, announced it is considering merging the Bank of Agriculture with the Central Bank of Nigeria’s NIRSAL Microfinance Ltd....
Digital money lenders, popularly known as loan app companies, are playing significant roles in extending credit facilities to the informal sector. While there are now hundreds...
Stanbic IBTC Holdings will seek shareholders’ approval to raise ₦550 billion on May 16. According to a regulatory filing submitted on Wednesday, the company has proposed...
The Central Bank of Nigeria (CBN) conducted a successful treasury bills (T-Bills) auction on April 24, 2024, where about N362.45 billion was raised across various maturities....
The Central Bank of Nigeria (CBN) conducted a successful treasury bills (T-Bills) auction on April 24, 2024, where about N362.45 billion was raised across various maturities....
The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Aminu Gwadabe, has identified those responsible for the recent wave of depreciation of...
The Economic and Financial Crimes Commission (EFCC) has filed a fresh charge against former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, at the High Court...
The naira has continued its depreciation against the US dollar for the fifth time despite the Central Bank of Nigeria’s sale of foreign currencies to legitimate...
Point-of-Sale (POS) transaction values witnessed a downturn in Nigeria for the first quarter of 2024, registering a N225.73 billion drop when compared to the corresponding quarter...
The Central Bank of Nigeria (CBN) has notified Bureau De Change (BDC) operators of the sale of $10,000 at the rate of ₦1,021/$1. The notification of...
The Nigerian Naira has shown some positive signs lately, with a trend of appreciation against major currencies like the US Dollar. This development has sparked debate...
The Federal High Court sitting in Abuja has been asked to stay execution on the judgement which refused to restrain the Central Bank of Nigeria (CBN)...
The Nigerian Naira experienced a significant depreciation in value against the US Dollar this Monday, as rates hit ₦1,260 per dollar in the parallel foreign exchange...
The Kogi Governorship Election Petition Tribunal sitting in Abuja, on Monday, ordered the Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, to unfailingly appear...
The exchange rate for customs duties clearance has been changed for the second time in less four days. Checks on the exchange rate window of the...
A Nigerian couple has been captured in a video customising the N200 naira notes with their photo and names. Naija News reports that the viral online...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has told Nigerians to expect the Naira to continue strengthening against the United States Dollar...
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said the Bola Tinubu-led Federal Government has not borrowed from the Central Bank...