CBN Increases Customs Duty Rate To N1,605.82 Per Dollar Once More
Less than five days after it marginally reduced the Customs Exchange rate from N1515.48 to N1472.756 last week, the Central Bank of Nigeria (CBN)...
OPay Wins Fintech/Digital Bank Of The Year 2025 Award
Digital pay platform, OPay, has been named Fintech/Digital Bank of the Year 2025. The company won the award at The Sun Awards, organised by The...
CBN Withdraws 46 Microfinance Banks Licenses Over Breaches In Regulatory Requirements
The Central Bank of Nigeria has withdrawn the operating licenses of 46 microfinance banks across the country, citing their failure to meet key regulatory...
CBN Removes Bank Cash Deposit Limit For Customers
The Central Bank of Nigeria has removed all cash-deposit limits for bank customers while maintaining strict weekly withdrawal ceilings under a revised set of...
New Tax Law: DisCos Request Corporate Customers For Identification Details
Electricity Distribution Companies, DisCos, have requested their corporate customers to provide identification details as part of conditions for electricity supply to them, citing the...
Minister Denies Planning N1bn Overseas Trip In 2024 Budget
The Minister of Industry, Trade, and Investment, Doris Anite, has denied the allegation that the ministry budgeted over N1 billion for a foreign trip...
Tinubu Hails Cardoso’s Reforms, Banking Recapitalisation
•Union Bank, Polaris, Keystone Banks on course President Bola Ahmed Tinubu has praised Olayemi Cardoso for leading reforms at the Central Bank of Nigeria (CBN),...
CBN Elevates Opay, Moniepoint, Kuda, Others To National Status, Boosting Financial Inclusion Nationwide
The Central Bank of Nigeria (CBN) has upgraded the licenses of leading FinTech firms and Microfinance Banks (MFBs), including Opay and Moniepoint, granting them...
Banks Struggle As Bad Loans Hit ₦21.2 Trillion: FX Shocks, Soaring Interest Rates, And End Of COVID Forbearance Fuel Defaults
Nigeria’s banking sector is grappling with a surge in bad loans as rising interest rates, foreign exchange volatility, and the withdrawal of COVID-era loan...
DSS Intercepts Syndicates Selling New Naira Notes, Bank Officials Implicated
The Department of State Services has detained some members of an organized syndicate selling the new Naira notes in various parts of the country. Although...
