CBN

The House of Representatives Committee on Finance has frowned at the negligence displayed by the office of the Accountant General of the Federation and the Central Bank of Nigeria, over discrepancies on 2021 remittances by government…

The Central Bank of Nigeria has cautioned Nigerians to resist the urge to succumb to speculative activities of some players in the foreign exchange market, as it puts in place measures to curb the downward slide of the Naira. The Naira…

The Nigerian House of Representatives has urged the Central Bank of Nigeria (CBN), to address delays arising from instant (Inter-Bank) Electronic Funds Transfer Services in Nigeria with a view to finding a lasting solution to the problem.…

The Central Bank of Nigeria (CBN) has guaranteed the sum of N130.90 billion loan to farmers under the Agricultural Credit Guarantee Scheme Fund (ACGSF) since inception in 1977 to May, this year. The chairman of the board of ACGSF, Mr.…

The total non-performing loans in the banking sector in Nigeria hit N1.21tn in February 2022 the Central Bank has revealed. The CBN stated in reports obtained from the Monetary Policy Committee that the total credit in the sector rose to…

The Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee, will in Thursday, June 16, 2022 hold the maiden Summit on Non-Oil Exports under the Race to US$200 Billion in Foreign Exchange (FX) Repatriation (RT200)…

Commercial Banks in Nigeria have implemented interest rate hikes for loans raising rates by as much as 200 basis points (2%). The interest rate hike is in response to the recent increase in the central bank’s monetary policy rate (MPR)…

The Central Bank of Nigeria (CBN) has set criteria to be met by Other Financial Institutions (OFIs) to qualify for enrollment onto the Credit Risk Management System (CRMS). Mr Chibuzo Efobi, Director, Financial Policy and Regulation…

The Central Bank of Nigeria (CBN) has issued a regulatory framework for Open Banking in Nigeria. This is in its efforts to enhance data sharing across the banking and payments system to promote innovations and broaden the range of…

Nigerian banks have reduced their maximum lending rate to 26.61 per cent, an over five-year low, the latest data by the Central Bank of Nigeria (CBN) on banks’ deposit and lending interest rates has revealed. The CBN data revealed that…