Ten Banks Spent N542.8bn On Customers’ Deposits In Q1, 2023   With the Monetary Policy Rate (MPR) currently at 18 per cent, a total of 10 banks spent N542.8billion on customers’ deposits in first quarter (Q1) ended March 31, 2023, an increase of 71.83 per cent...

DMO Says Repayment Of N22.7trn Loan To Begin 2026   The repayments of principal to service the loans from the Central Bank of Nigeria (CBN) through the Ways and Means Advances will begin in four years. This was according to a disclosure by the Debt Management Office...

CBN To Issue Guidelines On Contactless Payment System   The Central Bank of Nigeria (CBN) has revealed that it is set to issue guidelines to promote safe and efficient use of contactless payments across the country. This, according to the apex bank is part of its...

Forex: Turnover In I&E Declines By 46% To $1.4bn   The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market fell by 46 per cent, month-on-month (MoM) to $1.4 billion in April 2023 from $2.6 billion in March. This...

Senate Approves Restructuring Of FG’s N22.7trn Unbudgeted Loans From CBN   The Senate yesterday approved the request of President Muhammadu Buhari to restructure the N22.7 trillion Ways and Means loan advanced to the Federal Government by the Central Bank of Nigeria (CBN). The approval followed the consideration...

CBN To Audit e-Payment System, Watchlists 572 Bank Customers   The Central Bank of Nigeria (CBN) yesterday, said it will soon audit the nation’s payment system in order to cope with future growth in electronic banking transactions. The audit follows the challenges and widespread transaction failure experienced...