Nigerians to Receive Naira for Diaspora Remittances - CBN The CBN has given directive in a circular no TED/FEM/PUB/FPC/001/004 to all Deposit Money Banks, International Money Transfer Operators, and the general public titled ‘Payout option in naira for receipt of proceeds of diaspora remittances’ signed...

Accounts Closure: 57.96 million BVN Issued in H2, 2023 - NIBSS The total number of issued Bank Verification Numbers rose to 57.96 million as of July 3, 2023, according to data obtained from the Nigeria Inter-Bank Settlement System Plc. This was as the Central Bank of...

Nigeria Spent Over N7.8trn On Food Importation In Six Years   Despite being touted as the food basket of Africa, Nigeria has spent over N7.8 trillion in the past six years on food import. The staggering sum, experts say, is a clear demonstration that the Nigerian government...

Failed Bank Transactions: CBN Refunds N115 billion to Nigerians Central Bank of Nigeria (CBN) has confirmed receiving 35,453 failed bank transactions and resolving 33,437 issues, even as N115.45 billion had been refunded. Mr Elachi Samuel of the Consumer Protection Department made the disclosure yesterday during the...

CBN Frowns as Borrowing Cost Rises, Banks Growth Decline The cost of borrowing has continued to rise, while growth in the banking industry is declining, according to the Central Bank of Nigeria. In the personal statement made by the Deputy Governor, Financial System Stability Directorate, CBN,...

Nigeria Rakes in $11b from Oil Exports in Five Months The Organisation of Petroleum Exporting Countries (OPEC), latest revenues fact sheet indicates that Nigeria earned about $11 billion from crude oil exports in the first half of the year. which revealed the figure, also projected that...