The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will begin the payment of the first tranche of liquidation dividends to depositors of the now-defunct Heritage Bank. The move …
Tag:
CENTRAL BANK OF NIGERIA
-
-
Business and EconomyFinance & ServicesINVESTMENTNigeriaWestern Africa
FCMB Records N73bn Profit After Tax, Raises N144.6bn in Public Offer
First City Monument Bank (FCMB) Group Plc has announced a profit after tax of N73.34 billion for the financial year ended December 31, 2024. This marks a drop from the …
-
BusinessEconomyFinance & ServicesINVESTMENTPolicies
OPS urges reduced interest rates to boost growth
The Organised Private Sector (OPS) has urged the Central Bank of Nigeria (CBN) to reduce the Monetary Policy Rate (MPR) from its current 27.50 per cent to encourage economic growth. …
-
Banking, Finance & InvestmentDevelopmentEconomyEducationFinance & Services
FG seeks fresh $10.50m W’Bank loan
Nigeria has approached the World Bank for a fresh $10.50 million loan to strengthen the Central Bank of Nigeria’s technical capacity and modernise the country’s domestic payment system. The move …
-
EconomyFinance & ServicesGOVERNMENTNigeriaPoliciesWestern Africa
Naira Strengthens as Nigeria’s Foreign Reserves Hit Three-Year High
Nigeria’s naira recorded its biggest gain in two weeks, appreciating by 0.6% to 1,530 per dollar as of 11:15 a.m. in Lagos on Wednesday, according to Bloomberg-tracked BMAT spot trading. …
-
Banking, Finance & InvestmentEconomyGOVERNMENTNigeriaWestern Africa
CBN Denies Introduction of N5,000, N10,000 Banknotes
The Central Bank of Nigeria (CBN) has debunked a viral report claiming it has introduced N5,000 and N10,000 banknotes to facilitate cash transactions. The apex bank, in a statement released …
-
Business PoliciesEconomyFinance & Services
CBN Intensifies Measures Against Forex Speculators Amid Naira Depreciation
The Central Bank of Nigeria (CBN) is preparing to implement additional strategies to combat foreign exchange (forex) speculators, aiming to stabilize the naira, which has been experiencing a decline in …
-
Banking, Finance & InvestmentEconomyFinance & ServicesNigeriaWestern Africa
Nigerian Banks Borrow N9.2 Trillion from CBN to Sustain Operations
Nigerian Deposit Money Banks (DMBs) have borrowed over N9 trillion from the Central Bank of Nigeria (CBN) to maintain their operations amid a significant liquidity crunch in the financial system. …
-
Banking, Finance & InvestmentFinance & ServicesGOVERNMENTNigeriaPoliticsWestern Africa
CBN Declines Approval of Ex-Commissioner Wale Bolorunduro as Director of Living Trust Mortgage Bank
The Central Bank of Nigeria (CBN) has declined the nomination of Dr. Adewale Bolorunduro, a former Commissioner for Finance in Osun State, as a Director of the state-owned Living Trust …
-
AFRICA NEWSBanking, Finance & InvestmentNigeria
Foreign investment may decline over FTSE downgrade
by Editorby EditorSome capital market stakeholders have stated that Foreign Portfolio Investments in Nigeria’s equity market will further reduce following the downgrade of the country by rating agency, FTSE. FTSE in its …