Exporters Lament $10 Million Losses Over CBN New Export System
Exporters under the Association of West African Exporters and Maritime Professionals (AWAEMAP) have decried losses exceeding $10 million following the ...
Tag: CBN
Polaris and Keystone Consider Mergers as Nigeria’s Capital Regulations Push Consolidation
Nigerian banks are ramping up capital-raising efforts to comply with new Central Bank of Nigeria (CBN) regulations, with tier-1 banks ...
Naira Soars by N63 in Seven -Month High
Nigeria’s exchange rate saw a remarkable surge in January 2025, appreciating by N63.72 to close at N1,474.78 per dollar on ...
POS Operators Exploit Cash Scarcity Due to Poorly Executed Cashless Policy – Expert
Nigeria’s ongoing cash shortage is the result of a poorly executed cashless policy and ineffective management by banks, according to ...
CBN Opens Window for Beneficiaries to Claim Funds from Dormant Accounts
The Central Bank of Nigeria (CBN) has announced that next-of-kin, beneficiaries or legal agents can now claim unclaimed funds from ...
CBN Assures Naira Stability as Investor Confidence Grows
The Central Bank of Nigeria (CBN) has reiterated its confidence that the naira will stabilize as investor confidence strengthens. CBN ...
CBN Waives 2025 License Renewal Fee for Bureau De Change Operators
The Central Bank of Nigeria (CBN) has announced the waiver of the 2025 annual license renewal fee for all existing ...
Nigeria’s Electronic Payment Transactions Hit Record N1.07 Quadrillion in 2024
Electronic payment transactions in Nigeria soared to an unprecedented N1.07 quadrillion in 2024, marking the first time the country’s e-payment ...
Credit Losses to Stay High as Inflation, Interest Rates Pressure Borrowers
Nigeria’s banking sector will continue to face elevated credit losses in 2025, with losses projected at 2.5% to 3.0%, slightly ...
World Bank and IMF Call for Unified Approach to Tackle Inflation in Nigeria
The World Bank and the International Monetary Fund (IMF) have urged the Central Bank of Nigeria (CBN) to stay committed ...
