Finance
CBN Directs Banks to Implement Foreign Exchange Policy Reforms to Ensure Financial Stability
In a bid to enforce strict compliance with recent foreign exchange policy reforms, the Central Bank of Nigeria (CBN) issued...
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Nigeria’s External Debt Servicing Hits 70% of Dollar Payments in Q1 2024
Recent data from the Central Bank of Nigeria (CBN) has revealed that Nigeria allocated a staggering 70% of its dollar...
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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...
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Nigerian Fintech Giants Moniepoint and OPay Comply with Central Bank Regulations, Shut Down Crypto Trading Accounts
In a move aimed at regulatory compliance, Moniepoint and OPay, two prominent digital banking providers in Nigeria, have announced the...
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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Nigeria’s FX Reserves Rise, Naira Volatility Continues Amid Weak Capital Inflows and CBN Interventions
Nigeria's foreign exchange (FX) reserves witnessed a modest increase last week, with the gross reserves level rising by USD132.68 million...
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NDIC Raises Deposit Insurance Coverage Across Financial Institutions
The Nigeria Deposit Insurance Corporation (NDIC) has implemented a significant increase in deposit insurance coverage for all licensed deposit-taking financial...
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FG Directs Banks to Deduct Stamp Duty on Mortgage-backed Loans and Bonds
In a recent move aimed at bolstering fiscal performance, the Federal Government has instructed Deposit Money Banks to commence the...
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Opay, Kuda, and Others Banned from Accepting New Customers over Cryptocurrency Concerns
The Federal Government has issued a ban on digital payment platforms such as Opay, Kuda, and other fintech companies from...
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Financial Inclusion: Fintech Will Drive Economic Growth, Lift Millions Out of Poverty-Experts
The question of Financial Technology and financial inclusion as imperatives for sustainable economic growth in Nigeria formed the core of...
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