Tag
CBN
Nigerian bank customers are set to witness more service disruptions in the coming weeks and months as the financial institutions embark on system upgrades to improve their operational efficiency and enhance customer experience.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has acknowledged that the rise in the interest rate to 27.25% is “painful” for borrowers but stressed that the decision is necessary to reduce excess money in circulation and control inflation effectively.
Activities in Nigeria’s industrial sector contracted again in September- marking the ninth consecutive decline in 2024 with PMI...
The Central Bank of Nigeria (CBN) announced it sold $543.5 million to authorized dealer banks between September 6 and September 30.
The Central Bank of Nigeria (CBN) has announced the introduction of an electronic matching system for foreign exchange transactions in the Nigeria FX market scheduled to begin from December 1, 2024.
BDCs accuse IMTOs of ambushing external remittances, creating dollar scarcity in the parallel market
Bureau De Change (BDC) operators in Nigeria have attributed the recent depreciation of the Naira in the parallel market to scarcity of forex in the sector as major sources become drastically reduced.
The Naira closed September 2024 at N1,541 on the official NAFEM window, reflecting a slight improvement compared to its performance in July and August 2024.
The 70% windfall tax on Nigerian banks has stirred debate in the financial sector, raising concerns about its impact on profitability and growth.
President Bola Tinubu has stated that the federal government has cleared Ways and Means debt of over N30 trillion.
The exchange rate for customs duties collection currently stands at N1,637 to the USD – a decline from...
Credit to the government surged by over N11 trillion in the month of August 2024, as high interest rates make government securities more attractive to investors.
Once again, beyond expectations, on September 24, 2024, the CBN’s Monetary Policy Committee (MPC) raised the MPR by 50 basis points, pushing it to 27.25%.