CBN Interest Rate on AMCON too High, Needs Review - Senate The Senate has expressed concerns over the excessive interest rate imposed on the Asset Management Corporation of Nigeria, which are deterring its operations. The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator...

Naira in Circulations Rises to N3.4trn as CBN Assures of Adequate Cash Supply   The Central Bank of Nigeria (CBN) has again assured members of the public that it is addressing the reported cases of cash scarcity in some major cities across the country. It attributed the...

Naira: Customers Opt For epayments As Shortage Lingers   More customers are opting for electronic means of payment as naira scarcity worsens. Some bank customers and PoS operators who spoke to our correspondent said there was an increase in the epayment transactions. A resident in Olowoira, Lagos, Chike...

CBN Suspends New Applications For Intervention Loans   The Central Bank of Nigeria (CBN) has stopped accepting new loan applications for processing under any of its existing intervention programmes and schemes. The central bank disclosed this in a circular dated December 8, 2023, and signed by its...

Inflation: CBN to Maintain Tight Monetary Policy in 2024   The Central Bank of Nigeria (CBN) is likely to maintain a tight monetary policy stance to rein in inflation in 2024 according to analysts. Tight monetary policy is a set of measures taken by a country’s Central...

CBN Suspends New loans Application, Charges Banks for Recovery  The Central Bank of Nigeria, CBN, has suspended application for new loans under it’s development finance intervention funds. The apex bank announced this decision in a circular to the Chief Executives of banks, signed by Ag. Director,...