Naira Strengthens to N1,514/$1 in Parallel Market Amid CBN’s Forex Policy Impact
The Nigerian naira continued its upward trend in the parallel market, appreciating to N1,514 per US dollar on Wednesday, February...
CBN Directs Banks to Publish Details of Dormant Accounts and Unclaimed Balances Online
The Central Bank of Nigeria (CBN) has issued a new directive requiring banks and other financial institutions to publicly disclose...
Nigeria’s Inflation Rate Drops to 24.48% in January 2025 Following CPI Rebasing
Nigeria’s inflation rate has declined to 24.48% year-on-year in January 2025, according to the latest data released by the National...
CBN Mandates Nigerian Banks to Reduce Insider Loans Within Six Months
In a significant move to strengthen corporate governance and curb excessive risk-taking, the Central Bank of Nigeria (CBN) has issued...
Nigeria’s Consumer Credit Surges to N4.42 Trillion in November 2024 Amid Inflationary Pressures
Nigeria’s consumer credit outstanding rose sharply by 26.29% to N4.42 trillion in November 2024, up from N3.5 trillion recorded in...
Naira Appreciation: Increased Forex Inflows Boost Interbank Market, Say BDC Operators
The recent strengthening of the Nigerian naira has been attributed to a surge in foreign exchange (forex) inflows into the...
CBN’s Latest OMO Auction Attracts N1.915 Trillion in Subscriptions as Stop Rates Decline
The Central Bank of Nigeria (CBN) held its latest Open Market Operation (OMO) auction on February 13, 2025, drawing significant...
Senate Approves N54.99 Trillion 2025 Budget, Marking a Historic High
The Nigerian Senate has officially passed the 2025 Appropriation Bill, approving a record-breaking budget of N54.99 trillion on Thursday. This...
CBN Introduces New ATM Withdrawal Charges, Scraps Free Withdrawals at Other Banks
The Central Bank of Nigeria (CBN) has revised its ATM withdrawal policy, scrapping the previous provision that allowed customers to...
Banks’ Borrowing from CBN Skyrockets by 395% to N4.7 Trillion
In a significant development, Nigerian banks’ borrowing from the Central Bank of Nigeria (CBN) surged by 395.2% week-on-week (WoW) to...
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