As Nigeria grapples with a staggering inflation rate of 33.2% in March, the recent directive from the Central Bank of Nigeria (CBN) regarding a cybersecurity levy...
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 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...
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...
Bank fraud continues to be a critical issue in Nigeria, impacting many through various techniques that lead to significant financial losses. The Nigeria Inter-Bank Settlement System...
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...
The Nigeria Deposit Insurance Corporation (NDIC) has announced a substantial increase in the maximum deposit insurance coverage levels across various banking sectors. Effective immediately, the new...
The Nigeria Inter-Bank Settlement System (NIBSS) 2023 Annual Fraud Landscape reveals an alarming trend in international fraud activities targeting Nigerian banks’ customers. The financial landscape in...
Only 20% of Nigerian bank employees implicated in fraudulent activities were dismissed in 2023, indicating a lenient stance towards internal malpractices. An analysis of reports on...
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), 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...
Recent dividend announcements by major Nigerian banks have highlighted a complex interplay between shareholder returns and Central Bank of Nigeria (CBN)’s recapitalization requirements. Despite the CBN’s...
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...
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...