The licensing of non-interest banks (NIBs) and non-interest banking windows (NIBWs) of deposit money banks (DMBs) by the Central Bank of Nigeria (CBN) necessitated the formulation...
Foreign Direct Investment (FDI) into Nigeria has crashed by 78% in three months amid a worsening foreign exchange crisis in the country that continues to send...
The National Bureau of Statistics (NBS) has disclosed that Nigeria spent N1.51 trillion on the imports of premium motor spirit, also known as petrol, in the...
Nigeria’s foreign exchange (FX) reserve sustained its descent for the fifth consecutive week, decreasing to its lowest level since 8th October 2021, hitting eight-month bottom. Precisely,...
The Central Bank of Nigeria has reviewed operations of the NIBSS Instant Payments System (NIP) and other electronic payment options with similar features. In a circular...
The country’s external or foreign reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of...
Nigerians spent at least $220.86 million on foreign education between December 2021 and February 2022 a study by the Central Bank of Nigeria (CBN) has shown....
AppZone, Sub-Saharan Africa’s payment infrastructure company, announced that the Central Bank of Nigeria (CBN) has issued the organization an approval in principle to operate under the...
Reserves May crash below $38 Billion mark – Analyst As pressure continued to mount on the Nigeria’s external reserves, the country’s hard currency vault depleted by...
In line with rife expectations by investors in the Nigeria’s Fixed Income (FI) Market, the overnight (OVN) rate expanded by 424 basis points last week to...
By Marcel Okeke A seemingly innocuous ‘war’ has been raging in the Nigerian financial services space for quite some time now: the ‘war’ to checkmate the...
Nigerians have remained unflinching to explore blockchain technology and cryptocurrency that rides on it in search of financial succor despite the ban imposed on the digital...
The Central Bank of Nigeria (CBN) has granted MTN the final approval to operate as Momo Payment Service Bank Limited (Momo PSB). This was disclosed in...
There was respite for naira, the country’s local currency after the Nigeria’s foreign reserves added $84.25 million to hit $39.635 billion last week. Business Metrics found...
The Central Bank of Nigeria (CBN) has imposed an N800 million fine on three Deposit Money Banks (DMBs) in the country for violating regulations barring customers...
The Centre for Promotion of Private Enterprises (CPPE) has again urged the Central Bank of Nigeria (CBN) to adopt a flexible exchange rate regime to end...
Despite oil rally, Nigeria’s foreign reserves dipped by $145.51 million week-on-week to close at $39.52 billion as at March 24, latest data obtained from the Central...
The Monetary Policy Committee (MPC) met on 21st March 2022, in an environment of heightened geopolitical tensions and persisting macroeconomic uncertainties, associated with the recent Russia-Ukraine...
The first female Senior Advocate of Nigeria, Chief Folake Solanke, has urged the Central Bank of Nigeria (CBN) to stabilise value of the naira to prevent...
The House of Representatives’ Ad Hoc Committee on Recovery of Outstanding Debts Owed By Oil and Gas Companies has advanced drastic steps to recover a total...