News
Nigeria: CBN’s Interest Rate Hikes: A Cumulative 850 Basis Points in Seven Months
Under the leadership of Olayemi Cardoso, the Central Bank of Nigeria (CBN) has enacted a series of interest rate increases, known as Monetary ...
News
Nigeria: Blockchain Firm Backs Plateau State’s Digital Transformation Efforts
The Algorand Foundation, a leading blockchain firm, has pledged its support to Plateau State’s digitalization agenda under Governor Caleb Mutfwang. The partnership is ...
Nigeria
Nigeria: Banks Blame CBN for Cash Shortages, Risking Sanctions as Cash Scarcity Worsens
Nigerian commercial banks are currently in a standoff with the Central Bank of Nigeria (CBN) over the ongoing cash scarcity, as each party ...
Nigeria
Nigeria: SEC Pledges Action Against Illegal Fund Managers
The Securities and Exchange Commission (SEC) has issued a stern warning to entities involved in illegal fund management, urging them to cease such ...
Nigeria
Nigeria: Bank-Fintech Collaboration Crucial for Nigeria’s $1 Trillion GDP Goal by 2026, Say NDIC and Stakeholders
Collaboration between banks and fintech companies is essential for Nigeria to achieve its ambitious goal of a $1 trillion Gross Domestic Product (GDP) ...
News
Nigeria: Interbank Rates Show Mixed Trends Amid Liquidity Strain in Financial Market
Interbank rates in Nigeria displayed mixed movements as the financial system faced significant liquidity pressure, following monetary policy actions by the Central Bank ...
News
Nigeria: CBN Partners with Microfinance Banks to Boost Financial Inclusion and MSME Growth
The Central Bank of Nigeria (CBN) has announced a strategic partnership with Microfinance Banks (MFBs) to enhance financial inclusion and support the growth ...
Nigeria
Nigeria: CBN Extends Suspension of Cash Deposit Processing Fees to March 2025
The Central Bank of Nigeria (CBN) has extended its suspension of cash deposit processing fees until March 31, 2025. This extension moves the ...
News
Nigeria: Manufacturers Warn CBN: Interest Rate Hike Will Aggravate Nigeria’s Economic Challenges
The Manufacturers Association of Nigeria (MAN) has raised serious concerns about the Central Bank of Nigeria’s (CBN) decision to increase the Monetary Policy ...
Nigeria
Nigeria’s Central Bank Introduces 0.005% Cybercrime Levy on Electronic Transactions, Reinforces Cybersecurity Standards
The Central Bank of Nigeria (CBN) has confirmed the implementation of a 0.005% cybercrime levy on all electronic transactions for the 2024-2025 fiscal ...
