In the recently released ‘Central Bank of Nigeria (Customer Due Diligence) Regulations, 2023’ document, the apex bank asked financial institutions to use the social media handle, amongst other things, of their customers to verify their identity. There are only 31.6…
By Sodiq Adelakun Currency in circulation in the country rose by 157.27 per cent at the end of March to N2.53 trillion as of the end of May, latest figures from the Central Bank of Nigeria (CBN) have revealed. According…
The Debt Management Office has indicated plans to issue Federal Government of Nigeria (FGN) bonds valued at N1.2 trillion in its third quarter “Bond Issuance Calendar” for 2023. According to the calendar, on July 17, the DMO will re-open a…
By Sodiq Adelakun The World Bank Group has approved a loan of $500million to help improve the livelihood of women in Nigeria. Recall it would be the second loan approved by the World Bank under President Bola Tinubu. The World…
By Sodiq Adelakun The Vice President, Kashim Shettima, has announced the Federal Government’s commitment to facilitating swift access to single-digit loans for Nigerian small businesses. The Vice President disclosed this in a statement issued by the Director of Information, Office…
The Nigeria Deposit Insurance Corporation has said the deposits of directors and staff of defunct banks are excluded from its Deposit Insurance Scheme. This was disclosed during the Financial Literacy Day Programme organized by the NDIC on Monday in Abuja.…
Access Bank Plc has announced the opening of applications for the fifth edition of its Womenpreneur Pitch-a-ton. The application process began on Monday, June 26, 2023, and will run until Friday, August 11, 2023. The Womenpreneur Pitch-a-ton program spans three…
The Central Bank of Nigeria (CBN) and the Nigeria Customs Service have taken the ongoing foreign exchange reforms to the maritime sector with a 40 per cent increase in the exchange rate used for calculating import duty. The NCS on…
Nigeria’s debt servicing cost has increased by 55.71 per cent to N1.24 trillion in three months. In a report obtained by the Debt Management Office (DMO), between October and December 2022, Nigeria spent N406.77 billion on domestic debt servicing, while it…
By Seun Ibiyemi The Central Bank of Nigeria (CBN), and the Bill and Melinda Gates Foundation (BMGF) have finalised arrangements for collaboration on financial inclusion. According to a statement from the apex bank, the two groups recently held strategic discussions…
