FG Sets Six-Month Deadline for Banks, Telcos to Settle N250bn USSD Debt   The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have issued a final directive to Deposit Money Banks and Mobile Network Operators to resolve the protracted N250bn Unstructured Supplementary Service...

CBN Sells Over $300m To Banks As Naira Gains The Central Bank of Nigeria (CBN)has over $300m to Deposit Money Banks in the last two weeks amid desperate efforts to stabilise the naira-dollar exchange rate. The Association of Corporate Treasurers of Nigeria made the disclosure in...

$10bn Debt: CBN Fails to Meet up with Payment Schedule   Over two weeks after the Central Bank of Nigeria (CBN) promised to clear over $10bn foreign exchange debts owed Deposit Money Bank, the apex bank has yet to do so according to findings. This came as...

Domiciliary Accounts: CBN Lifts Deposit Restriction, Allows $10,000 Withdrawals Daily The Central Bank of Nigeria (CBN) has provided further guidance to Deposit Money Banks (DMBs) on the operational changes to the foreign exchange market announced on June 14, 2023. Going by the latest guidance, holders of...

Banks Maintain Ratio At Above 30% Despite Liquidity Crunch ‌ Amid tighten monetary policy by the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs) operating in Nigeria reported mixed Liquidity Ratio (LR) above the regulatory requirement in the 2022 financial year. Also, Capital Adequacy Ratio (CAR)...

Currency in Circulation Increases By 71% To N1.6trn – CBN   The currency in circulation in the country jumped by N701.4tn in one month to hit N1.6tn in March, 2023 after the Central Bank of Nigeria reversed its policy on the naira redesign. According to the CBN,...