Banking & Finance

Banks 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...

73

FCMB Group Records 186% Profit Growth, Proposes 50k Dividend

For the year ended December 31, 2023, FCMB Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its...

267

Central 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...

373

Lagos, 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...

351

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...

364

e-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...

191

Nigeria 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...