CBN: Banks Lose N12.06bn To Fraud In 6months The Central Bank of Nigeria (CBN) has revealed that commercial banks in the country lost a total of N12.06 billion to fraud and forgeries in the first six months of 2018. This is just as the banking sector regulator...

Service Banks To Pay N5bn As Capital Base - CBN   The Central Bank of Nigeria has stipulated N5bn minimum capital base requirement for the Payment Service Banks in the country. In a circular to all stakeholders on the guidelines for licensing and regulation of the PSBs,...

CBN Increases MFBs’ Capital Base To N5bn   The Central Bank of Nigeria (CBN) has raised the minimum capital base of microfinance banks (MFBs) in the country, giving them up to April 2020 to recapitalise. The CBN in a circular issued and signed by the Director, Financial...

CBN Revokes Nine Micro-finance Banks’ Licences In Niger   The National Association of Micro Finance Banks on Monday said that nine out of the 34 micro finance banks in Niger State have lost their operational banking licences. North Central Secretary of the association, Mr. Sado Daniel, made...

Farmers Receive N615bn Disbursement From CBN The Central Bank of Nigeria (CBN) has disclosed that as at August 20 2018, the total amount released under the Commercial Agriculture Credit Scheme (CACS) to participating banks for disbursement since the inception of the scheme is N615.43 billion. The...

Forex: Authorized Dealers, Others Get $210m Boost   Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million from the Central Bank of Nigeria (CBN) on Tuesday, October 9, 2018 to meet the needs of customers. The CBN also on...