JUST IN: CBN Office On Fire In Makurdi  The Central Bank of Nigeria (CBN) Makurdi cash office, covering North Central States, is on fire. The cause of the fire is not known but fire fighters were yet to arrive the building located in old GRA in...

Despite CBN’s Restrictions, Nigerians Traded N316.9bn Bitcoin In 2021   Nigerians traded at least N316.9bn in bitcoin in 2021 despite the Central Bank of Nigeria (CBN)'s restrictions on cryptocurrency transactions in the nation’s banking system. Last February, the CBN directed banks in the nation to desist from transacting...

Vandalism: Oil Firms’ Bank Borrowing Hit N5.68tn   The Central Bank of Nigeria report has revealed that total bank borrowing of oil firms in the downstream and upstream sectors of Nigeria's oil and gas industry increased by $490 billion from N5.19 trillion in January 2021 to...

BDCs Suspension Worsening Dollar Scarcity - ABCON   The Association of Bureaux De Change Operators of Nigeria (ABCON) said that the widening gap between the official and parallel market exchange rates is driven by acute dollar scarcity due to the continued suspension of foreign exchange sales...

Consumer Credit Rises By 40% To N2.1trn — CBN   The Central Bank of Nigeria (CBN) said that consumer credit rose 40 per cent, year-on-year, YoY, to N2.1 trillion in November last year from N1.5 trillion in November 2020, driven by a rise in the tempo...

10 Banks Get N7.02trn Fine Over CRR Violation   The Central Bank of Nigeria (CBN) in 2021 debited 10 banks a whooping N7.02 trillion over failure to meet the 27.5 per cent Cash Reserve Requirement (CRR) threshold. According to audited financial statements of these banks, the apex...