The Central Bank of Nigeria (CBN) plans to reissue Nigerian Treasury Bills (NTBs) worth N2.2 trillion in the fourth quarter of 2024, according to the newly released 2024 Issue Calendar obtained by Nigerian NewsDirect. This re-issuance is part of the…
By Esther Agbo In response to rising fraud cases in Nigeria, OPay has introduced ‘Nightguard,’ a new security feature aimed at bolstering customer fund protection, especially during vulnerable hours. The initiative underscores the fintech giant’s commitment to tackling financial crimes…
By Esther Agbo Interswitch Group, a leading player in Africa’s digital payments landscape, has secured a prominent position as the Gold Sponsor for the Africa Fintech Summit (AFTS) 2024, set to take place in Nairobi, Kenya, from September 4-6, 2024.…
By Esther Agbo Taking a step toward diversifying Nigeria’s economy, the Federal Government has appointed 23 fund managers to steer the $10 billion Nigeria Global Investment Fund (NGIF), a cornerstone initiative aimed at transforming critical sectors across the nation. This…
The Central Bank of Nigeria (CBN) has increased the rates for the Standing Deposit Facility (SDF) as part of its ongoing efforts to manage liquidity in the financial system. This decision was detailed in a circular issued on August 26,…
By Esther Agbo In expanding its financial services, Ecobank Nigeria Limited has received the green light from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to launch its custody business operations in Nigeria. This development…
The Federal Mortgage Bank of Nigeria (FMBN), says it is planning to finance the construction of student hostels and staff quarters for university workers to enable them to benefit from its loan scheme. Its Managing Director, Mr Shehu Osidi, said…
By Esther Agbo The Director General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has highlighted the urgent need for Nigeria to adopt and maintain consistent economic policies to reverse the ongoing decline in the country’s Gross Domestic Product (GDP)…
Nigeria has witnessed a significant increase in capital outflows, totalling $1 billion in April 2024, an increase of 35.14 percent from $740 million recorded in the previous month. This increase was largely driven by capital reversals, which accounted for 78%…
The Naira strengthened against the US dollar during Friday’s trading session. The haven currency experienced significant declines against the British pound sterling, which reached its highest level in over two years following Federal Reserve Chair Jerome Powell’s indication that the…
