OPay remains committed to working closely with the Central Bank of Nigeria (CBN) and other regulatory bodies to fight money laundering, fraud, terrorism financing,...
Members of the House of Representatives have demanded that the Central Bank of Nigeria (CBN) temporarily withdraw the circular instructing banks to start implementing the 0.5%...
Nigeria has spent about $1.12 billion on foreign debt service payments in the first quarter of 2024, highlighting the growing burden of external debt on the nation’s finances....
The House of Representatives on Thursday directed the Central Bank of Nigeria (CBN) to halt the implementation of the cybersecurity levy. The House recognized the importance of...
Following several weeks of a downward trend, Nigeria’s foreign exchange reserves have witnessed a marginal resurgence of about $262 million over 19 days. The Central Bank...
Experts and stakeholders in the blockchain industry have blamed the ongoing events around crypto trading in Nigeria on the policies and actions of the Central Bank...
The Association of Capital Market Academics of Nigeria (ACMAN) has expressed its concern regarding the timing of the proposed 0.5% cybersecurity levy introduced by the Central Bank of...
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has asked the Federal Government and the Central Bank of Nigeria (CBN) to cap...
On May 6, 2024, the Central Bank of Nigeria (CBN) ordered banks to begin the process of deducting cybersecurity levy which will be administered by the...
The Central Bank of Nigeria has announced 44 lists of licensed deposit money banks in Nigeria. The apex bank disclosed this in a list released...
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...
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...
Comedian Seyi Law has called out President Tinubu over the new CBN Policy directing banks to start charging 0.5% cybersecurity levy on some transactions done by...
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...
Nigerians have taken to social media to react to the new CBN directive to banks to start charging 0.5% cybersecurity levy on transactions. The apex...
The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on some transactions done by their...
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 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...
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...
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,...
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 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...
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 second prosecution witness, a former Director of Information Technology of the Central Bank of Nigeria, John Ayoh, has told the Lagos High Court Sitting in...
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...
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 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...
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 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...
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...
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) 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...
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 Central Bank of Nigeria (CBN) has denied instructing banks to restrict cryptocurrency accounts. In a circular shared on social media, it was stated that...
The Central Bank of Nigeria (CBN) has commenced fresh and direct sales of US dollars at N1,021 per dollar to Bureau De Change operators. This...
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 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 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...
The Central Bank of Nigeria, (CBN), has banned the use of foreign denominated collaterals for naira loans except Eurobonds including Standby Letters of Credit which are...
The Nigerian currency, the naira, witnessed a significant appreciation in the parallel foreign exchange (FX) market, reaching N1,120 to the dollar on Monday. This rate reflects...
There were a series of lamentations yesterday by currency traders over the increasing losses and decreasing demand for the dollar as the naira continued to strengthen...
Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was ordered back into the custody of the Economic and Financial Crimes Commission (EFCC) by...
The Central Bank of Nigeria has decided to discontinue the practice of accepting foreign currencies as collateral for loans issued in naira. In a circular...
The Central Bank of Nigeria has again announced the sales of dollars to Bureau De Change operators. The CBN disclosed this in a circular uploaded...
The governor of Central Bank of Nigeria (CBN), Yemi Cardodo has sacked a fresh batch of 40 staff mostly from the Development Finance Department (DFD),...
The Association of Bureau De Change Operators of Nigeria (ABCON) has appealed to the Central Bank of Nigeria (CBN) to adjust and lower its applicable exchange...
President Bola Tinubu has received the final comprehensive report of the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities, Mr Jim...
Limits and restrictions on transactions on the Pan-African Payment and Settlement System (PAPSS) has been removed by the Central Bank of Nigeria. Hassan Mahmud, CBN’s...
Two days after its Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria has announced the inflow of $1.5 billion foreign exchange into the country. ...
The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate by 200 basis points to 24.75 per cent in a continued chase to tame...
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators informing them that $10,000 have been made available to each...
Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has said that those who want the Naira to be N400 to the Dollar...
There are reports that the Governor of Central Bank of Nigeria, Yemi Cardoso, is planning to retire eight directors of the apex bank who were employed...
No fewer than 17 out of the existing 24 Deposit Money Banks may be unable to meet the Central Bank of Nigeria’s capital requirement if it...
President Bola Tinubu has asked the senate to confirm the appointment of Ruby Onwudiwe as South-East representative on the board of directors of the Central Bank...
The Central Bank of Nigeria has sold a record N1.3 trillion in Treasury Bills, specifically targeting overseas investors. This is aimed at increase foreign exchange...
Minister of Finance, Olawale Edun, has said the Central Bank of Nigeria printing N22.7 trillion in the name of Ways and Means loan under the government...
The exchange rate for computing the country’s Customs duties has been slashed by 5.3 percent by the Central Bank of Nigeria following stability in the exchange...
The operating licenses of 4,173 Bureaux De Change (BDC) operators have been revoked by the Central Bank of Nigeria over alleged non-compliance with regulations. Hakama...
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that foreign exchange backlogs have been cleared in all the banks except just five....
A nominee for membership of the Central Bank of Nigeria Board of Directors, Urum Kalu Eke has declined the offer stating that he is currently engaged...
The Senate has disclosed that Urum Kalu Eke, a nominee for the appointment as a member of the Board of Directors of the Central Bank of...
Imo State’s former Commissioner for Finance, Professor Uche Uwaleke, has said that the decision of the Monetary Policy Committee (MPC) to hike the Monetary Policy Rate...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said that he’s not responsible for the economic challenges facing the country. Cardoso said...
In a proposed legislation, the National Assembly is seeking to make the tenure of Central Bank of Nigeria (CBN) Governor a six-year non-renewable term. The...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the interest rate by 400 basis point from 18.5 percent to 22.5...
The Central Bank of Nigeria (CBN) governor, Yemi Cardoso has stated that over $26 billion passed through the crypto app, Binance Nigeria in the last four...
The Central Bank of Nigeria has announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau De Change operator across the country. ...
The Governor of Central Bank of Nigeria, CBN, Dr. Olayemi Cardoso, has appealed to Nigerians to be patient as the apex bank is doing everything possible...