Some sectors of the Nigerian economy, like the marine and blue economy, entertainment and arts, and hospitality, are expected to benefit from the ongoing recapitalisation of banks. This was made …
The prolonged leadership and ownership tussle at First Holdco Plc, the parent company of Nigeria’s oldest financial institution, First Bank of Nigeria, is drawing to a historic close. Multiple sources …
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 …
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, …
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. …