Economy
CBN Mandates Banks to Impose 0.5% Cybersecurity Levy on Transactions
In a bid to bolster cybersecurity measures across the financial sector, the Central Bank of Nigeria (CBN) has instructed all...
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FG Plans $750m World Bank Loan, Considers Telecom Tax Revival
In a bid to secure a new $750 million loan from the World Bank, the Federal Government of Nigeria is...
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Money Outside Banks Surges to N3.63 Trillion as Cash Processing Fees Resume
Despite a decline in overall money supply (M2), currency outside banks (COBs) in Nigeria witnessed a notable increase of 10.67...
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Pension Fund Assets Dip to N19.69 Trillion in March – PenCom Report
Data released by the National Pension Commission (PenCom) has revealed a slight decline in Nigeria's pension fund assets, totaling N19.669...
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Banks Set Aside N383bn for Legal Claims Amid Growing Litigation
In a move aimed at pre-empting potential legal disputes, nine major Deposit Money Banks (DMBs) in Nigeria have collectively set...
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FBNH, UBA, GTCO, Access Bank Drop Out of Trillion Naira Market Cap Club
Nigerian banks faced a challenging April, marked by losses across major banking stocks, coinciding with the first month-to-date decline in...
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Naira Hits Lowest Level at N1400/$ Despite Falling U.S. Dollar Index
In a turn of events, the Nigerian naira faced a significant decline in the official market, reaching its lowest level,...
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NGX Records Bullish Start in May, Investors Gain N300 Billion
The Nigerian Exchange Limited (NGX) began the month of May on a bullish note, marking a significant uptick in market...
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FG Raises N11 Trillion Through Treasury Bills and Bonds in Four Months
The Federal Government of Nigeria has reportedly raised a total sum of N11 trillion through auctions and sales of Treasury...
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NDIC Increases Deposit Insurance Coverage Across Banking Sectors
The Nigeria Deposit Insurance Corporation (NDIC) has introduced significant adjustments to the maximum deposit insurance coverage levels across various sectors...
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