Nigeria Invites Shareholders, Depositors Of Failed Banks To Come And Receive Their Claims.
The Nigeria Deposit Insurance Corporation (NDIC) has urged shareholders, creditors and depositors of the 20 failed banks to come for verifications and…
Central Bank of Nigeria Grants Pan African Fintech: Flutterwave Nigeria’s Highest Payment Processing License.
Flutterwave, Pan African fintech company has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN)— widely regarded…
More Money For Nigerian Bank Customers ? CBN Increases Interest Rate On Savings Account Deposits.
The Central Bank of Nigeria (CBN), earlier in the week has directed banks to increase the minimum interest rate payable on savings deposits from…
eNaira Hackathon: Central Bank of Nigeria, Fintech Support Org To Support Ten Start Ups.
The Central Bank of Nigeria (CBN) in collaboration with the Africa Fintech Foundry (AFF) ; an Access Bank initiative that aims to…
Nigerians Has Traded Near N500 Billion In Bitcoin Despite CBN Ban
Nigerians traded N497.35bn ($1.16bn) worth of Bitcoin from the beginning of 2021 to June 2022, indicating an increasing prominence of the digital…
“Set Naira Free” Expert Tells CBN, Says Naira Is Overvalued By 200%.
The Managing Director of Financial Derivatives Company Limited (FDC), Bismarck Rewane in an interview earlier in the week said that the Naira…
Posted inNEWS
Have You Used The eNaira? How Far Has The Nigeria’s Digital Currency Fared ?
The first year anniversary of the live launch of the eNaira is coming up on October 25, 2022. It will be exactly…
Posted inEconomy NEWS Regulations
Nigerian Banks Allegedly Engage In Fraudulent Transactions And Unauthorized Personal Data Usage.
A new investigative report has alleged that financial institutions are unabashedly engaging in fraudulent financial activities without sanctions from the regulatory bodies.…
Posted inNEWS
Nigeria Central Bank To Focus On Crypto, Fintech… In New Monetary Policy.
The Governor, Central Bank of Nigeria, CBN, Godwin Emefiele, has said that the Monetary Policy Committee will chart a new course for…
Posted inNEWS
Nigeria Central Bank “Naira For Dollar” Scheme Fail To Stop Naira Depreciation.
The Central Bank of Nigeria (CBN)’s attempt to boost the nation's forex market through the “Naira for Dollar” scheme has failed as…
Posted inNEWS
Customers To Provide Indemnity For Online Transfers Above One Million Naira: CBN.
In recent circular sent to commercial banks, the Central Bank of Nigeria has ordered banks and Payment Service Providers to accept indemnity…
Posted inNEWS
CBN Open Banking Guidelines To Allow Banks Share Customers Data With Retailers.
Recently, the Central Bank of Nigeria (CBN) published proposed guidelines that would introduce an ‘open banking' era in Nigeria, a map that…
Posted inNEWS
CBN Gives Airtel License To Operate Digital Mobile Money Banking.
The Central Bank of Nigeria has awarded Airtel Africa subsidiary, Airtel Mobile Commerce Nigeria Ltd, with a full super-agent licence. According to…
Posted inNEWS
Nigeria’s Central Bank Places $2 Million Fines On 3 Nigerian Banks Over Crypto Trading.
The Central Bank of Nigeria has fined three Nigerian commercial banks a total of N800 million for failing to comply with regulations…
Posted inNEWS
45 Million Nigerian Bank Accounts Not Linked To BVN: CBN Explains.
Dachung Bagos, a member of the House of Representative from Plateau State has alleged that about 45.85 million bank accounts were yet…
Posted inNEWS
CBN To Stop Sale of Forex To Banks.
The Central Bank of Nigeria has announced plans to end the sale of Forex to commercial banks by the end of the…
Posted inNEWS
CBN Devalues Naira, Modifies Forex Rate.
The Central Bank of Nigeria (CBN) adjusted the country’s exchange rate on its website to N413.49/$1 — in what seems to be another devaluation…
Posted inNEWS
Kuda Bank Targets Crypto Traders, Embarks on Account Closing Spree.
Kuda Bank has has reitrated its firms resolve to close accounts of any of it's customers who enages in crypto transactions of…
Posted inNEWS
Fintechs in Nigeria Receive $500 Million in 5 Years.
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele stated that Nigeria financial technology (fintech) firms attracted an investment of $500million…
Posted inNEWS
Pan African Payment and Settlement System (PAPSS) Kicks Off.
African Export-Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat announced the take off of the Pan-African Payment and…