Deposit money banks (DMBs) are increasingly avoiding the Central Bank of Nigeria’s (CBN’s) Standing Lending Facility window, even...
The Central Bank of Nigeria (CBN) has issued a stern warning to Deposit Money Banks (DMBs) and authorized forex dealers, emphasizing the mandatory acceptance of old and lower denominations of United States Dollar (USD) bills from customers.
The Nigeria Deposit Insurance Corporation (NDIC) has announced a substantial increase in the maximum deposit insurance coverage levels across various banking sectors. Effective immediately, the new coverage adjustments were revealed during a press conference held by the NDIC's MD/CEO, Mr. Bello Hassan, on May 2, 2024.
The Central Bank of Nigeria (CBN) has issued a new directive to all Deposit Money Banks (DMBs) introducing a reduction in the loan-to-deposit ratio (LDR) to 50%.
The top 10 beneficiaries of the Healthcare Sector Intervention Facility (HSIF) according to the CBN report.
NDIC is preparing to increase the maximum deposit insurance coverage to account for the effects of recent economic changes.
CBN has announced its intention to carry out a fresh round of banking recapitalization for the DMBs.
The number of bank account owners in Nigeria with Bank Verification Number (BVN) increased to 58.7 million as of September 12, 2023.
CBN on Thursday issued a letter to all Deposit Money Banks (DMBs), International Money Transfer Operators (IMTOs), and the general public, announcing the inclusion of the Naira as a payout option for diaspora remittances.
The operators under the aegis of the Association of Licensed Telecommunications Operators of Nigeria (ALTON) in a statement issued on Friday said with the regulator's approval, they will disconnect the banks any moment from now if they fail to pay.
The reaction from NDIC follows recent media reports that Polaris Bank has been secretly sold to a new investor.
The Central Bank of Nigeria (CBN) stated that it recorded a significant reduction in foreign exchange deposits by...
