The Nigerian naira on Wednesday reached its strongest level in over two months, closing at ₦1,565.46 to the dollar at the official foreign exchange (FX) market. This marked a ₦13.82 …
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CrimeFinance & ServicesNigeriaSecurityTechnology
POS Machines Now Tools for Kidnappers and Fraudsters, Warns SAN Monday Ubani
A Senior Advocate of Nigeria (SAN), Dr. Monday Ubani, has raised alarm over the growing abuse of Point of Sale (POS) machines by criminal elements in Nigeria. According to him, …
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Banking, Finance & InvestmentEconomyNigeriaStanbic IBTCTelecommunications
Telcos Disagree with Banks Over USSD Airtime Billing Claims
Confusion has trailed the planned migration to end-user billing for Unstructured Supplementary Service Data (USSD) as telecommunications operators in Nigeria have faulted the claims by some Deposit Money Banks (DMBs) …
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Banking, Finance & InvestmentBusinessEconomyFinance & ServicesNigeriaPolicies
Nigerian Banks’ Restricted Deposits with CBN Hit ₦18.82tn as Tight Monetary Policies Persist
Seven big Nigerian banks have reported a combined ₦18.82 trillion in restricted deposits with the Central Bank of Nigeria (CBN) as at March 31, 2025. This is a 7.3 percent …
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Banking, Finance & InvestmentEconomyNigeriaOil & GasPolicies
Moody’s Upgrades Nigeria’s Credit Rating But Warns Falling Oil Prices, Inflation Could Threaten Naira Stability
Global credit rating agency, Moody’s Ratings, has upgraded Nigeria’s long-term foreign and local currency issuer ratings from Caa1 to B3, citing improved transparency in the country’s foreign exchange system and …
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Banking, Finance & InvestmentBusinessEconomyFinance & ServicesMarketsNigeria
ABCON Warns Over Three Million Nigerians May Lose Livelihood as BDCs Struggle to Meet New Capital Requirement
The Association of Bureau De Change Operators of Nigeria (ABCON) has raised serious concerns about the impact of the Central Bank of Nigeria’s (CBN) new capital requirements for Bureau De …
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EconomyFinance & ServicesMarketsNigeriaPolicies
CBN Launches Three New Tools to Support Islamic Finance in Nigeria
The Central Bank of Nigeria (CBN) has introduced three new financial instruments aimed at deepening the country’s non-interest financial market and helping Islamic finance institutions manage liquidity better. This move …
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Banking, Finance & InvestmentBusinessBusiness InsightsEconomyMarketsNigeriaPolicies
CBN Reforms Push Diaspora Remittances to $4.76bn in 2024, Up by 44.49%
Foreign exchange inflows into Nigeria through International Money Transfer Operators (IMTOs) rose sharply to $4.76 billion in 2024, representing a 44.49 per cent increase from $3.30 billion recorded in 2023. …
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Banking, Finance & InvestmentBusinessBusiness InsightsBusiness PoliciesEconomyFinance & ServicesGOVERNMENTMarketsOil & GasPolicies
CBN Holds Interest Rate Steady Amid Stronger FX Stability and Rising Reserves
The Central Bank of Nigeria (CBN) has decided to keep its interest rate steady at 27.5 per cent. This decision was announced after the bank’s 300th Monetary Policy Committee (MPC) …
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Banking, Finance & InvestmentBusinessEconomyFinance & ServicesGOVERNMENTNewsNigeria
CIBN Says Nigerian Banks Are Safe and Stable, Urges Public to Ignore Rumours
The Chartered Institute of Bankers of Nigeria (CIBN) has assured Nigerians that the country’s banking sector is strong, stable, and not in danger. This reassurance came after some media reports …
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