The Central Bank of Nigeria (CBN) has reassured foreign investors of a stable, reform-driven economy, supported by growing external reserves, improved foreign exchange inflows, and […]
Category: Banking and Insurance
World Bank Warns Nigeria’s Single-Digit Inflation Target Unrealistic Amid Structural Challenges
The World Bank has cautioned that Nigeria’s target of achieving single-digit inflation in the short term is unrealistic, citing persistent structural weaknesses in the economy. […]
CBN Assures Nigerians of Adequate Cash Supply During Festive Season, Vows to Curb Currency Scarcity
The central bank of nigeria (cbn) has assured nigerians of sufficient cash circulation during the festive season, pledging to tackle the recurring challenge of currency […]
CBN Tightens Regulations on Export Proceeds Above $2,000
The Central Bank of Nigeria (CBN) has issued a new directive mandating stricter documentation for export transactions involving proceeds above $2,000 under the Pan-African Payment […]
Nigerians to Lose Access to USSD
Millions of Nigerians will lose access to the Unstructured Supplementary Service Data, USSD, of nine banks, following the planned stoppage of the service by telecommunication […]
CBN to Sanction Banks for ATM Cash Shortages
The Central Bank of Nigeria (CBN) has announced that it will impose sanctions on banks failing to dispense cash through their automated teller machines (ATMs) […]
Opay, Moniepoint Introduce a ₦50 Fee, on Transfers Over ₦10,000
In compliance with Federal Inland Revenue Service (FIRS) regulations, Nigerian fintech giants Opay and Moniepoint have introduced an ₦50 fee on electronic money transfers exceeding […]
Citi Invests In Infrastructure Modernization Despite ‘Living Will’ Rejection
Citigroup (Citi), one of the world’s largest banks, has faced a setback as the Federal Deposit Insurance Corporation (FDIC) rejected its “living will” plan, citing […]