The Central Bank of Nigeria (CBN) has imposed a fine of ₦150 million each on nine Deposit Money Banks (DMBs) for failing to make cash available via Automated Teller Machines…
With less than 15 months to recapitalisation deadline, banks have stepped up preliminary consultations on the prospect of business combinations. The ongoing recapitalisation is heading down to more competitive capital…
The Central Bank of Nigeria, CBN, has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January…
Nigeria’s external reserves increased to $40.920 billion as of January 6, 2025, up from $40.292 billion recorded on December 2, 2024. This is according to the Central Bank of Nigeria’s…
The official exchange rate between the naira and the United States dollar ended in 2024 at N1,535/$, an analysis of data from the Central Bank of Nigeria has shown. This…
The Federal Government has accused the Central Bank of Nigeria of misappropriating N2.73tn in interest payments from Ways and Means advances, raising serious concerns over irregularities in managing government funds.…
The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings Plc’s recently concluded rights issue. In a corporate notice filed on the Nigerian Exchange Limited…
The net foreign exchange inflow to the Nigerian economy in the third quarter of the year decreased by 2.97 per cent to $14.46bn from $14.89bn in the preceding quarter. This…
The Central Bank of Nigeria, (CBN), and the Nigerian Communications Commission, (NCC), have directed Deposit Money Banks and Mobile Network Operators to settle the long-standing N250bn USSD debt dispute. The…
The Central Bank of Nigeria has said that the $42 billion external reserves of the country, can finance importation of goods and services for more than nine months. This is…