Banking & Finance
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189Currency in circulation rises to ₦3.87tr –CBN
The value of Nigeria’s currency in circulation has risen to N3.87tn at the end of March. According to the latest money and...
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133FG Directs Banks to Deduct Stamp Duty Charges on Mortgages
The Federal Government has directed Deposit Money Banks to immediately begin the deduction of 0.375 per cent stamp duty charge on all...
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234NDIC Raises Insurance Coverage for Banks to ₦5m
The Nigeria Deposit Insurance Corporation (NDIC) has raised deposit insurance coverage for all licensed deposit-taking financial institutions in the country with immediate...
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81Banks Close 2 million Accounts Over BVN, NIN, Others
Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, in effort to clean their books of questionable accounts...
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213Central Bank Halts Four MFBs from Onboarding New Customers
In a move highlighting ongoing scrutiny of foreign exchange transactions, the Central Bank of Nigeria (CBN) has directed four major Microfinance Banks...
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212Lagos, Rivers lead States in ₦18b Bank Fraud Loss
The Nigeria Inter-Bank Settlement System has revealed that Lagos, Rivers States and the Federal Capital Territory led the financial fraud count in...
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192
Central Bank sells $10,000 to Bureau De Change at ₦1,021/$
The Central Bank of Nigeria (CBN) has announced the sale of $10,000 to each licensed Bureau De Change (BDC) operator nationwide. This...
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203e-Payment Transactions Surge by 89.3% to ₦234tr in Q1 2024
Electronic payment (e-Payment) transactions in Nigeria witnessed a remarkable surge in the first quarter (Q1) of 2024, hitting a total of N234...
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131Nigeria Secures $2.25b World Bank Credit
Minister of Finance and Coordinating Minister for the Economy, Wale Edun, said the federal government had secured a $2.25 billion single-interest loan...
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332Exchange Commission moves to curb illicit funds in banking recapitalisation
The Securities and Exchange Commission has revealed its stance against the admittance of illicit funds into the capital market through the fresh...
