The Nigeria Deposit Insurance Corporation (NDIC) has disclosed that it has paid ₦54.62 billion to 691,418 depositors of the now-defunct Heritage Bank. The Corporation also announced a liquidation dividend of …
Businesses across Nigeria say high interest rates have become the most severe challenge affecting their operations, surpassing long-standing problems like insecurity and poor electricity supply. This was revealed in the …
Veteran Asia-Pacific investor and founder of the Research Alpha fund, Michael McGaughy, has praised the economic reforms introduced by the Central Bank of Nigeria and President Bola Tinubu’s administration, describing …
Yields on Nigeria’s Eurobonds have fallen to their lowest point in two months, following a rise in global oil prices and renewed confidence from international investors. This development is seen …
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 …
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 …
Dr Sidi Ould Tah, a renowned economist and national of Mauritania, has been elected as the new President of the African Development Bank (AfDB). He will take over from Nigeria’s …
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 Central Bank of Nigeria (CBN) has released a draft document to modernise how banks and other financial institutions fight money laundering. In a circular dated May 20, 2025, the …
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 …