NDIC to Refund Customers, Sell Closed Banks’ Assets The Nigeria Deposit Insurance Corporation has assured depositors of the closed banks of speedy payment of their insured sums, following the revocation of licences of 179 microfinance banks and four Primary Mortgage Banks by the Central Bank...

Again, CBN Increases Interest Rate to 18.5% The Central Bank of Nigeria(CBN) has raised its benchmark lending rate to 18.5 per cent, from 18 per cent, in a robust push to contain the nation’s inflationary trend. The CBN governor, Godwin Emefiele, announced this on Wednesday after...

Experts Says Senate’s N22.7tn Loan Approval May Raise Bond Rates The securitisation of the Central Bank of Nigeria’s N22.7tn Ways and Means advances to the Federal Government by the Senate may push the interest rates of future debt securities higher, capital market analysts have said. The...

Companies Paid N346bn in Five Years for Gas Flaring - CBN The Central Bank of Nigeria data shows that oil and gas companies paid a total of N346bn as penalty for flaring gas in five years, saying the amount was marked as part of the...

Inflation: Analysts Fear Another Rise in Interest Rate as MPC Meets Today As the Monetary Policy Committee of the Central Bank of Nigeria starts its two-day meeting on Tuesday (today), analysts have indicated that the committee may raise the Monetary Policy Rate again to tackle...

Dangote has Paid Back 70 Percent of Loans Taken to Finance Refinery Project - Emefiele The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said the Dangote Group has paid back 70 percent of the loans it took from financial institutions to...