According to the Central Bank of Nigeria (CBN), the total exposure of Deposit Money Banks to the Nigerian economy climbed up to N22.61 trillion in October....
The Central Bank of Nigeria on Tuesday warned that it would suspend accounts of anyone hiding under the ECOWAS Trade Liberalisation Scheme to sabotage the federal...
Nigeria’s foreign reserves has continued its free fall, declining from $39.8 billion to $39.24 billion between 11 November and 13 December this year, the latest data...
Three months old digital-only Kuda Bank seems doing the unthinkable as it pioneers zero charges banking in Nigeria. Unlike other commercial banks, licensed by the CBN,...
The Senate on Tuesday authorised its Committee on Finance to investigate the circumstances around the non-remittance of over N20tn into the Federation Account by the Central...
Nigerian banks remain stable despite the country’s negative rating by the global credit rating agency, Moody’s, the Nigeria Deposit Insurance Corporation (NDIC) said on Tuesday. The...
The Central Bank of Nigeria (CBN) expects to achieve 2.38 percent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year, the bank...
The Director of Banking Supervision, Central Bank of Nigeria (CBN), Hassan Bello, said on Tuesday, that the apex bank would increase banks’ Loan to Deposit Ratio...
Nigeria is now among the top new countries using bitcoins, the latest edition of “The Nigerian Banker,” a journal of The Chartered Institute of Bankers of...
Global credit rating service, Moody’s Investor Service, gave a gloomy outlook of Nigerian government’s ratings on Wednesday, changing the prospects from stable to negative, in a report...
According to the Central Bank of Nigeria (CBN), the nation’s spending on commodities: rice, wheat, fish and sugar reached N1.3 trillion in the last one year....
There may be major distruptions in banking activities in the country as telecommunication companies have vowed not to offer free USSD service for banking activities. This...
In a timely recognition of how the current lull in the global oil market might stand in the way of a meaningful implementation of the 2020...
The Federal High Court, Lagos, on Monday remanded in prison the suspected internet fraudster, Ismaila Mustapha, aka Mompha, who is standing trial for alleged N33 Justice...
Nigeria imports cassava derivatives valued at about $600 million annually, the head of the country’s central bank has said. Godwin Emefiele, the governor of the Nigerian...
Happy Sunday esteem readers, welcome to this week’s Business Roundup. Here are the top highlights of events that happened during the week that you probably missed....
The Asset Management Corporation of Nigeria, (AMCON), an agency acting as a stabilizing tool for the nation’s financial system may soon go into extinction if the...
Desperate attempts by armed robbers to break into Benin, Edo State, branch of the Central Bank of Nigeria (CBN) was foiled by policemen attached to the...
A new report by the Central Bank of Nigeria (CBN) has revealed that the Federal Government recorded a fiscal deficit of N3.05trillion in its operations between...
A report by the Central Bank of Nigeria (CBN) on Thursday revealed that Nigeria’s foreign reserves fell by $1.26 billion from $41.76 billion in October 2...
The end to the closure of Nigeria’s land borders may take longer than expected as the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele,...
President Muhammadu Buhari’s ‘’rice revolution’’ is laudable. Before the ‘’crop rebellion’’, Nigeria spent about $1.65 billion annually importing rice from Thailand and India. But the country...
Chairman of Independent Corrupt Practices and other related offence Commission (ICPC), Prof. Bolaji Owasanoye, has indicted some Ministries, Departments and Agencies (MDAs) of government, in the...
Lately, there has been an increasing push by commercial banks, struggling towards the claimed achievement of financial inclusion across 36 states of the country. This has resulted to...
Former Kaduna lawmaker, Shehu Sani has blamed the Central Bank of Nigeria (CBN) for the new charges imposed by MTN for Unstructured Supplementary Service Data (USSD)...
The Central Bank of Nigeria (CBN) has asked banks to move their business from telecommunications companies that are working on increasing the charges on unstructured supplementary...
The Central Bank of Nigeria (CBN) on Thursday ordered the cancellation of requests for purchase of Treasury Bills at the Primary or Open Market Operation (OMO)...
A Central Bank of Nigeria’s (CBN) Financial Stability Report for 2018 has shown that seven banks are not adequately funded if there was a bank run...
The Central Bank of Nigeria (CBN) has refunded part of N500 billion penalty deducted from banks as additional cash reserves after they failed to meet the...
The Central Bank of Nigeria will, on Thursday, auction Treasury bills worth N121.9 billion in the second Primary Market Auction (PMA) of the month of October...
The Central Bank of Nigeria (CBN) in its 2018 annual report for currency operation, released on Tuesday, said it detected a total of 119,663 counterfeit notes...
According to a report released by the Central Bank of Nigeria (CBN), on Friday, financial inclusion rate has increased to 63.2% as at the end of...
The Nigerian Government has made the payment of £250,000, which a commercial Court in London ordered it to pay to Process and Industrial Developments Limited (P&ID)...
Workers in the financial sector on Monday vowed to shut down banks and other financial institutions across the country over the increasing casualisation of workers in...
The Economic and Financial Crimes Commission (EFCC) has dispelled rumours claiming that about N900million in its custody turned into paper. In a series of tweets on...
A group in South-Eastern part of the country, Zikist-Buharist Movement (ZBM) has accused the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, of marginalising...
Hello there, it’s Sunday. And, here is the Business Wrap, a featured post highlighting some of the major events that unfolded during the week ended 5th of...
The Economic and Financial Crimes Commission (EFCC) has been ordered to produce in court the 106 boxes containing the N900 million allegedly stolen by two staff...
Former Governor of Central Bank of Nigeria (CBN) Prof. Charles Soludo, on Tuesday said Nigeria’s economy was still dwindling as the government had failed to consider...
The Manufacturers Association of Nigeria (MAN) has alerted that the implementation of the cashless policy may have negative effects on the Micro, Small and Medium Enterprises...
Hello, it’s Sunday again. And, here is another serving of Business Wrap, a featured post highlighting some of the major events that unfolded during the week...
Funds linked to the suspended Head of Service of the Federation, Mrs Winifred Oyo-Ita have been suspended by the Abuja Federal High Court. The court presided...
In 2008, the American economy was collapsing. Like Nigeria, just after the emergence of Muhammadu Buhari as president in 2015, they (the U.S.) struggled with an economic contraction...
The Central Bank of Nigeria (CBN), on Tuesday, urged the judiciary to lend a helping hand towards ensuring that bank debtors pay back what they owe....
Four major banks in the country have incurred the wrath of the Central Bank of Nigeria (CBN) and the Financial Reporting Council of Nigeria, as they...
The Central Bank of Nigeria (CBN) on Friday decided to retain the Monetary Policy at 13.5 per cent. The MPR is the rate at which the...
Vice-President Yemi Osinbajo on Tuesday took the bull by the horn to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON). This...
The quarterly meeting of the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has been rescheduled to Thursday and Friday this week. The meeting was...
The House of Representatives on Tuesday summoned the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele over some abandoned projects in the country. This...
Due to the Central Bank of Nigeria (CBN) policy that mandated banks to give out at least 60 per cent of their deposits as loans or...