The Nigerian Naira weakened to a new low on the American Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, December 8, amid speculations that the Central Bank of Nigeria (CBN) has again devalued the local currency. In…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has responded to complaints from Nigerians about a scarcity of Naira notes, stating that there is an adequate supply of the currency. This assurance comes in the face of complaints from…
The Nigeria Deposit Insurance Corporation (NDIC) says it is prepared to conduct 100 per cent liquidation dividend payments worth N16.18 billion for depositors of 20 failed banks. Already the corporation has asked depositors to come forward for verification and payment…
By Matthew Denis The Chief Executive Officer and Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Hassan Bello has disclosed that Effective management of assets and liabilities is critical in promoting stability of the banking operation. The MD of…
The Debt Management Office (DMO) has urged the people of Niger State to consider investing in Federal Government of Nigeria (FGN) securities. This call to action was made during a public awareness event held in Minna, which was a collaborative…
By Sodiq Adelakun In a significant move to bolster the ease of doing business in Nigeria, the Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, has officially approved a revised “Service Charter” for the nation’s apex bank. This strategic…
FBN Holdings, one of Nigeria’s oldest banks on Wednesday has achieved a market capitalisation of N1.06 trillion ($2.6 billion) after a week of growth, with the share price rising by around 10 per cent. The surge began in 2022 after billionaire…
The World Bank has announced plans to allocate $5 billion towards bringing electricity to 100 million people in Africa by 2030. The announcement was made by the President of the World Bank, Ajay Banga, during his speech at the mid-term…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has announced the approval of its reviewed Service Charter by Governor Olayemi Cardoso. The Service Charter is a requirement of the Business Facilitation Act (BFA) 2022 and aims to improve the…
Nigeria’s foreign exchange reserves have fallen by $1.6 billion to $32.97 billion since the Central Bank of Nigeria tried to unify the country’s foreign exchange rates. On June 14, the apex bank asked Deposit Money Banks to remove the rate…
