CBN Raises Benchmark Interest Rate To 26.75% Amid Inflation Crisis
The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50…
Six Banks In Nigeria Increase IT Expenses By 44.66%
Six commercial banks in Nigeria increased their spending on information and technology (IT) by 44.66 percent to N205.34 billion as…
CBN Explains Exclusion Of Retained Earnings From Bank Recapitalization Process
The Director of the Financial Policy & Regulatory Department of the Central Bank of Nigeria (CBN), Haruna B. Mustafa, has…
Nigerian Banks Are On Track To Beat Their Profit Margin Outlooks For 2023
As per the financial reports spanning January to September 2023, Nigerian banks are poised to surpass their anticipated profit margins…
External Reserves Drop By $950m In 17 Days — CBN Report
Nigeria’s foreign exchange reserves have taken a significant hit, dropping by approximately $1.02bn within 18 days as the Central Bank…
Banks To Issue New GMPC National Identity Card To Applicants – NIMC
The National Identity Management Commission (NIMC) has announced that the new single and General Multipurpose Cards (GMPC) will be distributed…
CBN Sacks 117 Staff In The Last 20 Days As 50 More Staff Sack On Moday
So far, 117 casualties have been recorded in the last 20 days. Fifty more staff of the Central Bank of…
Why Banks Can’t Pay Dividends from FX Revaluation Gains – CBN
The Central Bank of Nigeria (CBN) has warned that banks operating in the country cannot use their foreign exchange revaluation…
CBN To Sanction MfBs For Failure To File Monthly Returns
The Central Bank of Nigeria (CBN), has urged all Microfinance Banks (MfBs) to ensure prompt rendition of statutory monthly returns…