FX Reserves Fall by $1.8bn in 10 Weeks – CBN
Nigeria’s foreign exchange reserves have fallen by $1.8bn in 10 weeks, according to data from the Central Bank of Nigeria (CBN).
As of May 29, 2024, the country’s FX reserves stood at $32.69bn, down from $34.44bn...
Debt Management: CBN Calls for Transparency, Training for Professionals
The Central Bank of Nigeria (CBN) has emphasised the importance of transparency in debt management and borrowing activities to build trust with investors, creditors, and the public.
The CBN Governor, Olayemi Cardoso, made the call in Abuja,...
After License Revocation NDIC Commences Liquidation of Heritage Bank
The Nigeria Deposit Insurance Corporation (NDIC) on Monday said it commenced the liquidation of Heritage Bank Plc, following the revocation of the banking license of the Bank by the Central Bank of Nigeria (CBN) on Monday,...
CBN Lifts Restriction on Opay, Monieponit, Others
The Central Bank of Nigeria (CBN) has lifted its ban on OPay, Moniepoint, Kuda, Palmpay, and Paga, clearing the way for the fintechs to resume onboarding new customers.
Recall that CBN directed fintech companies to pause enrollment of new...
Rice, Garri, Tomatoes Prices Rise 141% in a Year – NBS
The average price of rice, garri and tomatoes rose 141 percent in one year, the highest yearly increase for the period, according to data from the selected food price report.
The data shows that the...
CBN Revokes Heritage Bank License
The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect.
This decision, it said, was to maintain a stable and healthy financial system as authorised under Section 12 of the Banks and Other Financial...
