Banking & Finance
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280Naira Weakens to ₦1637/$
The Nigerian naira has lost further ground against the United States dollar, with the exchange rate hitting N1637.59 at the close of...
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238Govt Imposes Electronic Levy on Opay, Moniepoint Users, Others
Customers of financial technology (fintech) companies including Opay, Moniepoint and Kuda are grumbling over the implementation of the Electronic Money Transfer Levy...
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347
CBN Boosts Forex Liquidity, Sells Dollars to BDCs at ₦1,580
Central Bank of Nigeria (CBN) has increased liquidity in the foreign exchange market by selling US dollars to Bureau De Change (BDC)...
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251Govt to Clamp Down on Banks Breaching Lending Rules
The Federal Government has vowed to take steps to address the issue of banks lending money to state governments without adhering to...
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390Nigeria, China Revive Local Currency Swap Deal
Nigeria and China are set to revive their local currency swap agreement in a bid to bolster trade between the two nations...
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206
Banking Sector Positioned to Drive Sustainable Growth –CIBN
The Chartered Institute of Bankers of Nigeria (CIBN) has asserted that the banking sector in the country is uniquely positioned to drive sustainable...
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241CBN, SEC, NDIC Partner to Simplify Bank Recapitalisation
The Central Bank of Nigeria, the Securities and Exchange Commission and the Nigeria Deposit Insurance Corporation have joined forces to streamline the...
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132Forex Reserves Decline to $36.32b on High Dollar Demand
Nigeria’s foreign exchange reserves fell to $36.32bn as of August 29, 2024, according to data released by the Central Bank of Nigeria...
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200
Currency Outside Banks Dropped to ₦3.7tr in July –CBN
The Central Bank of Nigeria’s (CBN) has disclosed currency outside the banking system dropped to N3.66 trillion in July, inferring that its...
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295Currency in Circulation Peaked at ₦4.05tr in July –CBN
The Central Bank of Nigeria (CBN) has reported that the currency in circulation surged to an unprecedented N4.05 trillion in July 2024,...
