Banking & Finance
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204CBN Caps BDC FX Purchase at $25,000 Weekly via Single Dealer Bank
The Central Bank of Nigeria (CBN) has introduced new guidelines that permit Bureau de Change (BDC) operators to purchase up to $25,000...
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193FG Seeks Fresh $580m W’Bank Loans
The Federal Government is engaging the World Bank for two fresh loans totalling $580m, which are expected to be approved in March...
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168FG Targets External Borrowing Reduction
The federal government has reaffirmed its commitment to reducing reliance on external debt financing and promoting private sector-driven economic growth as part...
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185FEC Okays ₦758b Bond to Offset Pension Backlog
The Federal Executive Council (FEC) has approved the issuance of a N758 billion bond to offset outstanding pension liabilities for all categories...
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95Active Bank Accounts Up 122.3m to 331.6m in One Year
Nigeria’s banking sector saw a remarkable expansion in 2024, with active accounts surging to 331.6 million by December, reflecting an increase of...
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125FIRS Begins Withholding Tax System
The Federal Inland Revenue Service (FIRS) has announced the commencement of the implementation of the withholding tax system. This is aimed at streamlining tax...
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119Banks Experienced Higher Defaults in Loans Given to SMEs, MSMES in Q4 2024 –CBN
The Central Bank of Nigeria (CBN) on Monday revealed that deposit money banks (DMBs) experienced a significant rise in loan defaults from Small...
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116CBN Extends $25,000 Weekly Forex Sales to BDCs
The Central Bank of Nigeria has extended the temporary access granted to Bureau de Change operators for purchasing foreign exchange from the...
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114FG to Introduce New Loan Initiative for SMEs
The federal government has unveiled plans to introduce a new initiative with the aim of making access to credit facility easier for...
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96
Nigeria Will Reduce External Borrowing, Edun Tells World Bank
The Federal Government has informed the World Bank of its desire to reduce Nigeria’s dependence on external debt financing. This is part...
