14 h. ago Stabilising the naira: 10 things the Central Bank of Nigeria is doing right

“Monetary policy is like juggling six balls. It is not an interest rate up, there is an interest rate down. There is the exchange rate, there are long-term yields, there are short-term yields, and there is credit growth” –  Raghuram Rajan When Olayemi Cardoso was first appointed the Central Bank Governor, many greeted his appointment […] The post Stabilising the naira: 10 things the Central Bank of Nigeria is doing right appeared first on The Sun Nigeria.

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36 h. ago CBN Denies Purported Introduction Of N5,000, N10,000 Banknotes

The Central Bank of Nigeria has denied a viral claim circulating on social media, saying that it has introduced two new denomination, N5,000 and N10,000 notes. In a statement on Thursday, CBN described the report as fake. The purported Whatsapp message quoted one Deputy CBN Governor, Ibrahim Tahir Jr., saying that the move is aimed […] The post CBN Denies Purported Introduction Of N5,000, N10,000 Banknotes appeared first on Information Nigeria.

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51 h. ago First Bank Reaffirms Commitment To Youth And Sports Development

Following the impressive outcome of the inaugural South West Games, First Bank of Nigeria Limited has pledged its continued support for any initiative aimed at developing youth and promoting sports across the country. At the closing ceremony of the Games, Seyi Oyefeso, the Executive Director of Retail Banking at First Bank, emphasized the bank’s dedication […]

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55 h. ago Africa Energy Bank: Nigeria, Angola, Ghana’s Capital Guarantees Take Off

Nigeria has demonstrated exceptional commitment towards supporting the operational takeoff of the Africa Energy Bank (AEB) by providing and fulfilling her capital commitment. Similarly, Angola and Ghana have also fulfilled their capital commitments toward establishing the Bank, a milestone that represents 44 per cent of the minimum required funding from African Petroleum Producers Organization (APPO) […]

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60 h. ago W’Bank lends Nigeria $1.08bn for education, nutrition, economic boost

The World Bank has approved three financing operations totalling $1.08bn to support education, nutrition, and economic resilience in Nigeria. According to a statement on the bank’s website on Wednesday, the concessional loans are aimed at improving the quality of education, building household and community resilience, and enhancing nutrition for underserved groups. The statement read, “The Read More

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61 h. ago World Bank approves $1.08bn loan for Nigeria’s education, nutrition, economic resilience

By Uche Usim The World Bank has granted approval for three financing operations totaling $1.08 billion to bolster education, nutrition and economic resilience in Nigeria. According to a statement released on the bank’s website on Wednesday, these concessional loans are aimed at improving the quality of education, enhancing household and community resilience, and addressing nutrition […] The post World Bank approves $1.08bn loan for Nigeria’s education, nutrition, economic resilience appeared first on The Sun Nigeria.

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68 h. ago Sterling Bank champions removal of transfer fees in banking sector

In a landmark move that sets a new benchmark for customer-focused banking in Nigeria, Sterling Bank has championed the cancellation read more Sterling Bank champions removal of transfer fees in banking sector

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3 d. ago Foreign Reserve Hits $23bn, Highest In Over Three Years — CBN

Central Bank of Nigeria has announced the highest Net Foreign Exchange Reserve (NFER) position as of the end of 2024. In a statement by CBN on Tuesday, the report marked an increase from $3.99 billion at year-end 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The growth in reserves reflects a combination of […] The post Foreign Reserve Hits $23bn, Highest In Over Three Years — CBN appeared first on Information Nigeria.

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3 d. ago CBN posts $23.11bn net FX reserve, strongest position in 3 years

From Adanna Nnamani, Abuja The Central Bank of Nigeria (CBN) has achieved its strongest foreign exchange reserve position in over three years, posting an impressive $23.11 billion in net reserves at the end of 2024. The development signals a robust recovery and enhanced financial stability for the country’s economy. It also reflects a substantial improvement […] The post CBN posts $23.11bn net FX reserve, strongest position in 3 years appeared first on The Sun Nigeria.

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4 d. ago CBN shakes up oil and gas industry with new terminal assignments, boosts transparency

The Central Bank of Nigeria (CBN) has announced a comprehensive review of the allocation of terminals to Pre-Shipment Inspection Agents read more CBN shakes up oil and gas industry with new terminal assignments, boosts transparency

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4 d. ago Electricity consumption up, production growth down in Q4 – CBN report

The Nigerian electricity sector slowed in the fourth quarter of 2024, with the electricity production index declining by 1.64% year-on-year. Data from the Central Bank of Nigeria says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024). Average estimated electricity generation, according to a Channels TV report Read More

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5 d. ago Nigeria Gets World Bank’s $500m Loan Approval To Boost Economic Resilience

Nigeria has secured approval for a $500 million loan from the World Bank, in a significant move to enhance economic resilience. The World Bank has approved the $500 million loan to Nigeria to support the country’s Community Action for Resilience and Economic Stimulus Program. According to information obtained from the bank’s website, the approval, which […]

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5 d. ago Heritage Bank: NDIC promises timely payment of uninsured sums to depositors

Tribune Online Heritage Bank: NDIC promises timely payment of uninsured sums to depositors In response to concerns raised by depositors of the defunct Heritage Bank, whose balances exceed the maximum deposit insurance limit of N5 million, the Nigeria Deposit Insurance Corporation (NDIC) says it has intensified efforts to ensure timely payments. Following the revocation of Heritage Bank’s banking license by the Central Bank of Nigeria (CBN) on June […] Heritage Bank: NDIC promises timely payment of uninsured sums to depositors Tribune Online

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5 d. ago Banks turn to commercial papers amidst increasing deposit costs, high CR policies

Tribune Online Banks turn to commercial papers amidst increasing deposit costs, high CR policies NIGERIAN banks are increasingly relying on costly short-term commercial papers (CPs) to address liquidity challenges as the Central Bank of Nigeria (CBN) enforces stringent cash reserve policies, driving up deposit costs, Bloomberg reports. Access Holdings Plc, Nigeria’s largest bank by assets, the Providus Bank Limited N100.00 billion Commercial Paper Programme registration of the NOVA Merchant […] Banks turn to commercial papers amidst increasing deposit costs, high CR policies Tribune Online

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5 d. ago Sound regulatory oversight keeps banking sector strong —Cardoso

Tribune Online Sound regulatory oversight keeps banking sector strong —Cardoso THE Nigerian banking sector has demonstrated remarkable resilience and stability, thanks to the effective regulatory oversight provided by the Central Bank of Nigeria (CBN) and other relevant authorities, according to a recent assertion by the CBN governor, Olayemi Cardoso. By maintaining a robust regulatory framework, the authorities have been able to mitigate potential risks, ensure […] Sound regulatory oversight keeps banking sector strong —Cardoso Tribune Online

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5 d. ago World Bank approves $500m loan to boost Nigeria’s economic resilience

The World Bank has approved a $500 million loan to Nigeria to support the country’s Community Action for Resilience and Economic Stimulus Program. read more World Bank approves $500m loan to boost Nigeria’s economic resilience

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6 d. ago Dangote, Otedola, others make Forbes’ 2025 billionaires list

Tribune Online Dangote, Otedola, others make Forbes’ 2025 billionaires list Femi Otedola, the chairman of First Bank of Nigeria (FBN) Holdings Plc, secured the joint 16th position with a net worth of $1.5 billion. Dangote, Otedola, others make Forbes’ 2025 billionaires list Tribune Online

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6 d. ago Accountability, Affordability, Key Drivers Of Successful PPPs – FMBN

Managing director/chief executive of the Federal Mortgage Bank of Nigeria (FMBN), Shehu Usman Osidi, has highlighted key successes recorded by the bank in the execution of the Public-Private Partnership (PPP) housing model, leading to its sustainable growth and the housing sector. Osidi disclosed this during a panel session at the maiden edition of the Renewed […]

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7 d. ago Naira gains against dollar in official market, trades at N1,536.82

The Naira appreciated on Friday in the official market, trading at N1,536.82 to a dollar. Data from the Central Bank of Nigeria website showed that the Naira gained N1.84. This represents a 0.11 per cent increase compared to the N1,538.66 per dollar recorded on Thursday. The gain followed four days of slight depreciation between Monday Read More

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7 d. ago YEIDEP: Keystone Bank Lauds Federal Gov’t, Minister For Empowering Nigerian Youths

Keystone Bank Limited has lauded the President Bola Tinubu-led administration for its undying support towards youth development in Nigeria. The bank expressed its appreciation at a solidarity dinner held in honour of Comrade Ayodele Olawande, the Minister for Youth Development, and Comrade Kennedy Iyere, the Coordinator-General of the Youth Economic Intervention and De-Radicalization Program (YEIDEP) […]

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