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) …
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 …
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 …
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 …
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 …
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. …
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) …
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 …
The Central Bank of Nigeria (CBN) has decided to maintain the Monetary Policy Rate (MPR), also known as the interest rate, at 27.50 per cent. This announcement was made by …
The Central Bank of Nigeria (CBN) has denied social media and online reports suggesting that one of the banks under its regulation is facing distress. In a statement released on …