FG Seeks Fresh $10.50m Loan from World Bank   Nigeria has approached the World Bank for a fresh $10.50m loan to enhance the Central Bank of Nigeria’s technical capacity and modernise the country’s domestic payment infrastructure. According to information exclusively obtained from the World Bank website on...

N2.4trn Recapitalisation Fund Raised by Banks Through Capital Market - SEC DG   Nigerian banks have so far raised N2.4 trillion through the capital market in the ongoing recapitalisation of the banking sector directed by the Central Bank of Nigeria (CBN). Director-General of the Securities and...

CBN Debunks Claim of Introducing N5,000, N10,000 Banknotes The Central Bank of Nigeria (CBN) has dismissed claims that it has introduced new N5,000 and N10,000 notes, labeling the reports as false. In a statement posted on X on Wednesday, the apex bank debunked the rumors, stating:...

Net FX Reserves Hit $23.11bn in 2024, Says CBN Nigeria’s net foreign exchange reserves rose significantly to $23.11bn at the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria. In a press statement on Tuesday, the apex...

The Central Bank of Nigeria (CBN) has disclosed that Nigerians secured personal loans amounting to N470bn from banks in the last three months of 2024.

The Nigerian electricity sector slowed in the fourth quarter of 2024 (Q4 2024), with the electricity production index declining by 1.64% year-on-year (y-o-y).