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,...

Naira Trades 864/$ at FX Window The naira appreciated by 27.16 per cent to close at N864.29/$ on the official Investors and Exporter window on Monday. This is as the daily turnover of the dollar surged by 86.83 per cent to $132.46m at the closing of...

CBN Suspends Changes on Large Deposit The Central Bank of Nigeria has suspended the processing fees of two per cent and three per cent previously charged on all cash deposits above N500,000 for individuals, and N3m for corporates with immediate effect. This development followed the lingering...