Banking
NIBSS Downtime Causes Delays in Electronic Transactions, Fintechs Alert Customers
The Nigeria Inter-Bank Settlement System (NIBSS) is currently experiencing a significant downtime, causing widespread delays in completing electronic transactions. This...
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FirstBank Maintains Impressive Performance, Posts N238.53bn Pbt In Q1 2024
FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024...
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CBN Attributes Forex Market Instability to Seasonal Demands, Raises Interest Rates
The Central Bank of Nigeria (CBN) has linked the recent instability in the foreign exchange market to seasonal demands, according...
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Fintech Firms to Resume Onboarding New Customers Under Stronger Regulatory Framework -CBN
The Central Bank of Nigeria (CBN) has announced that mobile money operators, including prominent fintech firms like OPay, Palmpay, Kuda...
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Four Nigerian Banks Upgrade Licences Amid Recapitalisation Rush
As Nigeria's banking sector experiences a surge in recapitalisation efforts, four deposit money banks in the country have recently upgraded...
Read moreNigerian Banks’ Lending to Private and Public Sectors Drops by Trillions in March
Data from the Central Bank of Nigeria (CBN) has revealed a significant drop in Nigerian banks' lending to both the...
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CBN Initiates Sale of Fresh Dollars To Bureau De Change Operators At N1,021/$
The Central Bank of Nigeria (CBN) has commenced a new phase of direct sales of US dollars to Bureau De...
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Central Bank of Nigeria Reduces Loan-to-Deposit Ratio to 50% in Tightening Policy
In a move aimed at deepening its monetary tightening policy, the Central Bank of Nigeria (CBN) has slashed the Loan-to-Deposit...
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Nigerian Tier-1 Banks Plan to Raise $3.03bn in Fresh Capital Amid CBN Recapitalization Directive
Four of Nigeria's tier-1 banks, namely FBN Holdings, Access Holdings, Guaranty Trust Holding Company Plc, and United Bank for Africa...
Read moreRevaluation of Dollar-Denominated Loans Triggers Drop in Nigerian Banking Sector’s Solvency
The Central Bank of Nigeria (CBN) Financial Stability Report (FSR) for the first half of 2023 reveals that the solvency...
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