Banking & Finance
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1.5K₦923b Withdrawn from Banks in One Year –CBN
The Central Bank of Nigeria has disclosed that bank customers withdrew a total of N923.16bn from bank vaults between May 2024 and...
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1.5KForbearance Exposure: CBN Directs Banks to Submit Capital Restoration Plans
The Central Bank of Nigeria has directed banks to submit a capital restoration plan as part of regulatory efforts to support the...
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1.5KCurrency in Circulation Rises to ₦5.01tr, Cash Outside Banks Now ₦4.63tr
Currency in circulation (CIC) in Nigeria climbed to N5.015 trillion in May 2025, marking a modest increase from N5.003 trillion in April,...
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1.8KBanks’ Deposits with CBN Soar 907% to ₦68.9tr
Banks have increased their deposit with the Central Bank of Nigeria, CBN, by 907.3 percent Year-on-Year, YoY, to N68.9 trillion in the...
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686CBN Posts $3.73b Current Account Surplus in Q1
Nigeria recorded a current account surplus of $3.73 billion in the first quarter of 2025, buoyed by a strong rebound in the...
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1.6KBanks Strategise to Exit CBN’s Forbearance Framework
Amid the Central Bank of Nigeria’s (CBN) directive halting dividend payments, bonuses and new foreign investments for banks under regulatory forbearance, the...
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CBN Affirms Strength of Nigerian Banking Sector
In a move aimed at calming market jitters and ensure smooth transition from regulatory forbearance, the Central Bank of Nigeria (CBN) yesterday...
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CBN Halts Profit Sharing, Overseas Investments for Banks Under Special Support
The Central Bank of Nigeria (CBN) has temporarily suspended the payment of dividends, executive bonuses and foreign investments by banks currently under...
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1.6KCBN Extends BDC Recapitalisation Deadline to December
The Central Bank of Nigeria (CBN) has extended the deadline for Bureau De Change (BDC) operators to meet new recapitalisation requirements to...
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211FIRS Launches Revised SOP to Streamline Tax Payment
The Federal Inland Revenue Service (FIRS) has revised its Standard Operating Procedure (SOP) as part of efforts to improve consistency, transparency, and...
