CBN Spends N40 Billion on Staff Loans in 2022
Despite providing N155.63 billion for staff allowances in 2022, which included categories like furniture, housing, leave, transport, productivity allowances, and ...
Tag: CBN
Naira Hits All-time-low of N950/$ at Parallel Market
Also, on Thursday, the CBN declared a consolidated Group and Bank’s profit of N103.85 billion and N65.62 billion respectively for ...
Subsidy Removal | Exchange Rate Floating as Opportunities in the Fixed Income Market
Writer: LAURA FISAYO-KOLAWOLE, Head, Equities and Alternative Asset Solutions at FBNQuest Asset Management. The financial industry in Nigeria has experienced ...
CBN Aims for 95% Financial Inclusion by 2024
The Central Bank of Nigeria (CBN) has announced that it has achieved a significant milestone of 64.1% financial inclusion. Financial ...
CBN Revolutionizes eNaira Mobile App with NFC Technology
The Central Bank of Nigeria (CBN) has reaffirmed its unwavering commitment to the central bank digital currency (CBDC) project, despite ...
Agusto & Co. Affirms Fidelity Bank Plc’s ‘A’ Credit Rating and Awards ‘2’ ESG Score
Agusto & Co., the Pan-African credit rating agency, has upheld the 'A' rating for Fidelity Bank Plc and assigned the ...
LCCI Calls for Equal Access to FX for Importers
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns over the unfair advantage enjoyed by certain importers of ...
CBN Revokes Licenses of 2,698 Bureau de Change Operators
In a significant move, the Central Bank of Nigeria (CBN) has announced the withdrawal of operating licenses from 2,698 Bureau ...
Nigeria’s Foreign Exchange Reforms Expected to Boost Capital Importation in 2023
As a result of recent foreign exchange management reforms by the Nigerian government, analysts at Afrinvest have projected a base ...
Why Nigeria’s Headline Inflation Rose to 22.79% in June 2023
Nigeria's headline inflation continued its upward trend, reaching 22.79% in June 2023, compared to 22.41% recorded in May 2023, according ...
FCMB’s Empowers 3m Nigerians with N105b in Loans
FastCash, First City Monument Bank's (FCMB) instant loan solution, has successfully distributed N105 billion in loans to three million Nigerians, ...
African Startup Funding Plunges to $4.1b, Signaling Challenging Times Ahead
Total funding for African startups experienced a significant decline, dropping by 37 percent year-on-year to $4.1 billion in June 2023, ...
CBN Lowers Cash Reserve Ratio for Merchant Banks
The Central Bank of Nigeria (CBN) announced on Friday that it has reduced the Cash Reserve Ratio (CRR) for merchant ...
Wema Bank Lifts Suspension on International Transactions for Naira Cards
Wema Bank, a prominent commercial bank in Nigeria, has announced the removal of the suspension on international transactions conducted using ...
Access Bank Expands with Acquisition of Angolan Bank
Access Bank, a subsidiary of Access Holdings, has recently made a strategic move to further dominate the African banking space ...