The Economic and Financial Crimes Commission (EFCC) has revealed that it would soon commence prosecution of banks, and their executives complicit in aiding money laundering in...
In a bid at deepen the foreign exchange market, boost liquidity and attain convergence in the exchange rates, the Central Bank of Nigeria (CBN) has given...
A call for increased discretion has come from Mr. Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC) regarding the disclosure of...
Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 the Central Bank of Nigeria (CBN) has ordered deposit money banks in the country...
Following reports that cyber thieves stole $12bn from global financial institutions in the last 20 years, the International Monetary Fund (IMF) has called on Central Banks...
Some days after a meeting of the Monetary Policy Committee, where the interest rate was increased to 24.75 per cent, the Central Bank of Nigeria issued...
The Central Bank of Nigeria (CBN) has banned the use of foreign currencies as collaterals for naira loans. The CBN gave the directive in a circular...
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) in the country to expedite action to increase their capital base from the current...
Dare devil armed robbers, on Thursday, raided two banks at Anyigba in Dekina Local Government Area of Kogi State, reportedly killing two persons in the process....
The Chairman of the Economic and Financial Crimes Commission (EFCC) Ola Olukoyede, on Monday, indicted banks as being linked to about 70 per cent of financial...
The Ekiti State Police Command has launched a manhunt for suspects behind a deadly robbery operation at two banks in Ikere-Ekiti on Wednesday where about three...
The Central Bank of Nigeria (CBN) has announced the suspension of applications for new loans under its development finance intervention funds. This is even as the...
The Fiscal Responsibility Commission (FRC) has expressed dismay at how banks in the country lure many state governments into debt traps by offering mouthwatering loans. The...
Amid a headwind of challenges ranging from multiple taxation, forex scarcity, and low patronage of locally produced goods, the debt owed by manufacturers to banks in...
There is yet to be an end to the controversies surrounding the about N120 billion owed telecommunication companies by banks in the country for the Unstructured...
The director of the banking supervision department of the Central Bank of Nigeria (CBN), Haruna Mustafa, said deposit money banks (DMBs) have been barred from using...
Telecommunications companies and Deposit Money Banks (DMBs) have resolved their disagreement over the debt rising from the billing of the Unstructured Supplementary Service Data (USSD). The...
Nigerian banks have been blamed for the delay in the payment of the June allowance of the members of the National Youth Service Corps {NYSC}. According to...
The Nigerian government has collected a total of N155.58 billion in income tax payments from ten banks operating in the country. The tax payments were captured...
Nigerians who believed that cash crunch had ended following the directive from the Central Bank of Nigeria (CBN) remained disappointed on Tuesday and the morning of...
Nigerian banks have started paying customers with old naira notes over the counter and via Automatic Teller Machines (ATM) prompting a sense of relief among many...
Nigerian banks have adjusted the processing time for accessing foreign exchange (FX) for international school fees to 120 days from 48 hours. They have also cut...
The stocks to watch list this week includes Seplat, Dangote Cement and Bank stocks as the Nigerian stock exchange resumes for another trading week. Ripples Nigeria...
The Central Bank of Nigeria (CBN) has launched a Regulatory Framework for Open Banking in Nigeria to deepen innovation and increase the range of products available...
Some Nigerian banks have commenced paying the old 1,000 and 500 naira notes to customers following the Supreme Court judgment, which extended their validity to December...
The value of Nigeria’s currency, naira depreciated against the US dollar following the judgment of the Supreme Court extending the use of old naira notes until...
The governor of Kano State, Abdullahi Umar Ganduje, has issued a severe warning to commercial banks in the state, threatening to shut down any institution that...
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has directed the country’s commercial banks to make the old N200 notes available to Nigerians....
Nigerians have been talking on social media saying that by defying the Supreme Court’s order, the Central Bank of Nigeria (CBN) and the Federal Government FG...
The Central Bank of Nigeria (CBN) has recorded significant progress in its effort to mop up cash in the economy. In its latest data published on...
The Central Bank of Nigeria (CBN) will meet with deposit money banks (DMBs), mobile money operators, and telecommunications companies in the coming days to address the...
Commercial Banks on Friday countered claims by the Central Bank of Nigeria (CBN) on the availability of the new Naira notes. The banks defended their position...
The Central Bank of Nigeria (CBN) has advised Nigerians to start rejecting old naira notes from banks. The apex bank further reminded bank customers that the...
The Central Bank of Nigeria (CBN) has threatened to revoke banks’ foreign exchange dealership licenses if they work with International Money Transfer Operators, IMTOs, in violation...
As the new naira notes went into circulation on Thursday, Nigerian banks are struggling to provide it in abundance as demands overshoot supply in banking halls....
The Central Bank of Nigeria (CBN) and the bankers’ committee have agreed that banks would give N500 billion in loans to export-oriented enterprises that generate annual...
The Central bank of Nigeria (CBN) has released a guideline for the establishment of banks and other financial institutions in the country. In the guideline signed...
The National Bureau of Statistics (NBS) has revealed that commercial banks in Nigeria recorded salaries and employee expenses of over N602 billion in the 12 months...
The Central Bank of Nigeria (CBN) has put in place new guidelines for banks seeking loans from its discount window on auction days. The new restrictions...
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total of N595.34 billion. The figure is...
Commercial banks have taken over five distribution companies (DisCos) after they failed to repay loans obtained to acquire assets during the 2013 privatisation. Two of the...
The Kano state government has issued a two-week ultimatum to three commercial banks to pay their outstanding trade registration fees or face closure. The banks include...
The Central Bank of Nigeria (CBN) has asked Nigerian banks to collect indemnities from their customers for highly secured online funds transfers amounting to N1million for...
Amid lingering forex scarcity, Nigerian banks have instructed their customers looking to buy foreign currency to put in their application 30 days ahead. This is coming...
LinkedIn, the world’s largest professional networking platform, has revealed its list of the best places to work in Nigeria for 2022. Banks dominated the list in...
Deposit money banks (DMBs) and processing companies in the financial industry have been given the go-ahead to establish deposit and withdrawal centres outside the banking hall...
Nigeria’s low interest rate and rising inflation presented an opportunity for several top Nigerian companies to use the debt market to raise short-term loans through commercial...
The widening gap between Naira and dollar has helped Nigeria’s five big banks rake in N159 billion additional profit in nine months. This is according to...
The governor of Rivers State has threatened that the state government will shut down the premises of any bank or business organisation in the state that...
The Central Bank of Nigeria (CBN) has unveiled guidelines stipulating minimum requirements for enhancing cyber-security in the financial sector. According to the CBN the move is...
