Transitioning Digital Economy Through e-banking, Naira Redesign   With digitisation deepening across the globe, many countries, especially developing economies, are gradually moving towards a cashless society, in which all financial transactions are electronic. In addition to simply eliminating the costs and hassles of managing currency, going cashless...

The Central Bank Governor And His Declaration Of Allegiance, By Eric Teniola I attended an event recently in Lagos and Chief Joseph Oladele Sanusi(84) from Ogbagi in Akoko North West Local Government of Ondo state, entered quietly, unannounced. The Master of Ceremony (MC) at the...

Cash Crunch: Customers Lament As Banks Resume Operations After Election   Residents of Osogbo, the Osun State capital, have continued to experience scarcity of Naira notes even as the February 25 presidential and National Assembly elections have been concluded. Majority of the banks operating in Osogbo only...

Only 24% Of CBN Anchor Borrowers’ Loans Repaid, Says IMF   The International Monetary Fund (IMF) has disclosed that only 24 per cent of loans dirbursed under the Anchor Borrowers’ Programme of the Central Bank of Nigeria have been repaid. This disclosure was contained in the IMF’s...

Forex Inflows Into Nigeria’s Economy Drop By 40% To $26bn   Foreign exchange in flows into Nigeria’s economy fell year-on-year (YoY) by 40 percent to $26.32 billion in the first 11 months of 2022 (11m’22), from $44.01 billion in the corresponding period of 2021. Data from the...

'Private Sector Gets N42trn Bank Loans'   Banks credit to the private sector rose from N35.18tn recorded at the end of January 2022 to N42.25tn in the corresponding period of 2023, figures obtained from the Central Bank of Nigeria have shown. The CBN’s money and credit statistics...