Financial Services
Banking, Insurance and general financial services news
Insecurity forces closure of five microfinance banks in the southeast in September 2023 – NDIC
At least five microfinance banks (MFBs) in Nigeria’s southeast were shut down in September 2023 due to insecurity in the...
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CBN says new IMTO licences push Nigeria’s remittance inflows to $585 million in August 2024
The Central Bank of Nigeria (CBN) has said that its recent decision to licence more International Money Transfer Operators (IMTOs)...
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NIBSS: E-payment transactions in Nigeria hit N89.5 trillion in July 2024, highest monthly record
The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that Nigerians spent a total of N89.5 trillion over electronic channels in...
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Active bank accounts in Nigeria rise to 231.1 million in July 2024—NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts in Nigeria rose to 231.1...
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CBN to sanction banks for not dispensing cash via ATMs, plans N1.4 trillion for circulation
The Central Bank of Nigeria (CBN) has announced that it will sanction banks failing to dispense cash through their automated...
Read moreCardoso: Moving the CBN in the right direction
In the peculiar context of Nigerian public space, there are three categories of critics. The first is that of people...
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Private sector accounts for 47.76% of N10.95 trillion pension contributions by Q2 2024
Nigeria’s private sector accounts for 47.76% of the country’s pension fund contributions of N10.95 trillion as of the second quarter...
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Top 10 banks with lowest lending rates for Nigerian manufacturers
The Central Bank of Nigeria (CBN), under Yemi Cardoso, has increased the monetary policy rate (MPR) four times to combat...
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US Federal Reserve slashes interest rates by 0.5% as Nigeria awaits return of foreign investors
On Wednesday, the U.S. Federal Reserve implemented a 0.5% cut to its interest rates, marking the start of what many...
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CBN says it will continue controversial cybercrime levy at 0.005% in new guidelines
The Central Bank of Nigeria (CBN) has announced that it will continue enforcing the controversial cybercrime levy at 0.005% on...
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