CBN Fines Nine Nigerian Banks ₦150 Million Each for Failing to Provide Naira Notes via ATMs
The Central Bank of Nigeria (CBN) has sanctioned nine Deposit Money Banks (DMBs) for failing to ensure the availability of ...
Tag: CBN
Nigerians Telecom Operators Set to Suspend USSD Services Over N250 Billion Debt
Telecom operators in Nigeria are preparing to suspend Unstructured Supplementary Service Data (USSD) services in two weeks following the failure ...
CBN Launches New Accounts to Boost Diaspora Access to Nigerian Economy
The Central Bank of Nigeria (CBN) has introduced two new account types—the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident ...
Naira Gains Momentum with N125 Surge After EFEMS Launch
Nigeria's currency, the naira, has appreciated significantly, gaining N125 against the dollar within a month of the Electronic Foreign Exchange ...
CBN Disburses $1.25 Billion for Petrol Import as Dangote Teams Up with Oil Firms to Lower Costs
The Central Bank of Nigeria (CBN) announced it disbursed $1.25 billion between January and September 2024 for petroleum product imports ...
BOI Secures N 3.5 Billion to Boost Nigerian MSMEs
The Bank of Industry (BOI), Nigeria’s foremost development finance institution, has secured €1.879 billion (N3.05 trillion) from international markets in ...
Nigeria to Launch National Credit Guarantee Company to Boost Financial Inclusion
The Nigerian government has announced plans to establish the National Credit Guarantee Company (NCGC) to enhance financial inclusion and expand ...
Forex Stability, Dangote Refinery Drive Optimism in Nigerian Telecom and Oil Sectors in 2025
Ardova Plc and Dangote Refinery have formalized a stronger partnership under a new framework aimed at enhancing Nigeria's downstream oil ...
Naira Falls 40.9% in 2024, Closing at N1,535/$1
The naira ended 2024 at an exchange rate of N1,535/$1, reflecting a 40.9% depreciation compared to its closing value of ...
Cash Scarcity: Lagosians Forced to Pay High Fees as ATMs Run Dry
In recent times, Lagos residents have faced severe cash shortages, with Automated Teller Machines (ATMs) across the city running out ...
