CBN And Textile Industry Revival The Central Bank of Nigeria’s (CBN’s) recent strategic move to revive and grow Nigeria’s cotton, textile and garments economic sector and to improve domestic production of cotton from about 80,000 tonnes in 2018 to 300,000 tonnes by 2020, is one...

CBN To Launch New Framework On Mortgage Lending The Central Bank of Nigeria plans to introduce a framework to boost mortgage lending in the country. According to the apex bank, a lot of equities are currently tied down in mortgage assets, which are entirely cash backed. The...

CBN Issues N22.9bn Seed Capital For Creative Industry The Central Bank of Nigeria, in collaboration with the Bankers’ Committee, has provided N22.9 billion seed capital for the Creative Industry Financing Initiative (CIFI). In a circular released at the weekend, the apex bank said the CIFI project...

Nigeria Records $10.22bn Forex Inflow In May - CBN   The aggregate foreign exchange inflow into the Nigerian economy amounted to $10.22bn, showing an increase of 3.2 per cent above the level at the end of the preceding month, the Central Bank of Nigeria (CBN) has...

Financial Inclusion: CBN Sets Monthly Customer Target For MFBs   The Central Bank of Nigeria has set a new target of 64 new customers for micro finance banks in Nigeria, as part of its efforts to achieve its financial inclusion target. The banking regulator stated this in...

38m Nigerians Now Have BVNs - CBN Banks in the country have successfully linked 38m accounts with the Bank Verification Numbers, according to the Central Bank of Nigeria. As part of its financial inclusion drive, the CBN said it was targeting 100 million BVNs in the...