Nigeria’s consumer credit outstanding rose significantly by 26.29 per cent to N4.42tn in November 2024, up from the preceding month’s figure of N3.5tn.

Personal Loans Rose by 37.76% in November – CBN According to latest monthly report by the Central Bank of Nigeria (CBN), Nigeria’s personal loan portfolio rose by 37.76 per cent to N3.32tn in November 2024. The sharp increase in consumer borrowing reflects the impact of rising...

After Court Order, CBN Assures Keystone Bank’s Customers of Stability   The Central Bank of Nigeria (CBN) has reassure customers of Keystone Bank Limited that the bank remains safe and fully operational, despite a recent court order forfeiting the bank's shares to the Federal Government.The Central...

CBN Urges Telcos to Manufacture SIM Cards Locally to Conserve Forex   The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged telecommunications companies to manufacture essential components locally, in a bid to reduce the industry's reliance on foreign exchange and promote economic growth. This...

N100 ATM Withdrawal Fee Stays for Transactions Below N20,000 - CBN   The Central Bank of Nigeria (CBN) has confirmed that the N100 fee for ATM withdrawals from other banks will remain in place for transactions below N20,000. This is according to a FAQ document published by the apex...

Safeguarding the Future of FBN By Salisu Na'inna Dambatta A group of shareholders of the First Bank of Nigeria (FBN) have cried out over issues that need the attention of the regulators of the country's financial sector in order to safeguard the future of the Bank. The...