CBN Denies Heavy Intervention in FX Market, Highlights Minimal Participation
The Central Bank of Nigeria (CBN) has refuted allegations of aggressive intervention in the foreign exchange market, insisting that its ...
Tag: banks
CBN’s 50% CRR Policy Costs Nigerian Banks N2.5 Trillion in Annual Earnings – Report
Nigerian banks are losing approximately N2.5 trillion in potential earnings every year due to the Central Bank of Nigeria’s high ...
Dangote Rejects NNPC Bid to Increase Stake in Refinery, Eyes Public Listing
Aliko Dangote, President of the Dangote Group, has turned down a request by the Nigerian National Petroleum Company Limited (NNPC) ...
NDIC Moves to Wind Up 89 Failed Microfinance and Mortgage Banks After Successful Rescue
The Nigeria Deposit Insurance Corporation (NDIC) has begun the final stage of liquidating 89 defunct Microfinance Banks (MFBs) and Primary ...
CBN Controversial Law – Is This Protecting Lenders or Shielding the Powerful?
The Central Bank of Nigeria (CBN) has sparked fresh debate in the financial sector with a bold proposal that could ...
CBN Directs Banks and Fintechs to Complete Cybersecurity Self-Assessment Within 21 Days
The Central Bank of Nigeria (CBN) has given deposit money banks three weeks to complete a new Cybersecurity Self-Assessment Tool ...
NDIC Accelerates Payouts for Failed Banks: BVN Link Now Key to 72-Hour Access
The Nigeria Deposit Insurance Corporation (NDIC) has significantly sped up the process of reimbursing depositors when a bank fails, promising ...
CBN Confirms 20 Banks Meet New Recapitalisation Requirements as March Deadline Looms
The Central Bank of Nigeria (CBN) has announced that 20 deposit money banks (DMBs) have fully complied with the new ...
Nigeria’s Leading Banks Post N4.1 Trillion in Profits Over Nine Months
Nine of the country's largest banking institutions collectively earned N4.115 trillion in profit after tax during the first three quarters ...
Union Bank, FCMB Shift USSD Charges to Airtime Billing
Union Bank and First City Monument Bank (FCMB) have announced that, starting July 1 and July 2, 2025, respectively, USSD ...
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