MFBs Join Reps’ Call To CBN To Halt Recapitalisation       The National Association of Microfinance Banks (NAMB) has joined the House of Representatives’ recent call on the Central Bank of Nigeria (CBN) to suspend the April 2021 deadline for the recapitalisation of microfinance banks (MFBs). It came...

External Reserves Lost $350m In Two Weeks - CBN       The country’s external reserves lost $350m in two weeks, falling to $34.9bn on April 29 from a high of $35.25bn as of April 16. Figures obtained from the Central Bank of Nigeria on Monday revealed that the...

Banks Borrowing From CBN Increase By 174% To N2.4trn     In apparent reflection of the intense scarcity of funds that prevailed in the interbank money market in April, banks’ borrowing from the Central Bank of Nigeria (CBN) rose by 174 per cent to N2.48 trillion from...

CBN, Experts Urge Microfinance Banks To Boost Financial Inclusion         The Central Bank of Nigeria and financial sector experts have called for collaborative efforts among microfinance banks to promote the expansion of micro-insurance as a tool for deepening financial inclusion. They made the call at the sixth...

Five Major Banks Post N680bn Bad Loans       Five of the major banks in the country, also known as Tier-1 banks have posted whopping N683bn non-performing loans in the 2020 financial year. According to the financial reports of the banks, released in April this year to the...

CBN’s MPC Members In Policy Dilemma Over Growth, Inflation       The members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, have indicated that the apex bank’s meeting in March was largely concerned with the twin problem of growth stimulation of economic...