CBN orders payment service providers to implement PoS transaction tracking
The Central Bank of Nigeria has mandated that all Point of Sale transactions from merchant and agent locations be routed through an…
CBN
Economic expansion recorded first time in 13 months – CBN PMI
The Central Bank of Nigeria’s latest Purchasing Manager’s Index report reveals that economic activities expanded in August for the first time in…
CBN, SEC, NDIC team up to streamline bank recapitalization
The Central Bank of Nigeria, the Securities and Exchange Commission, and the Nigeria Deposit Insurance Corporation have united to streamline the bank…
Banks’ deposits with CBN soar to N3.42tn – Report
Deposits held by banks with the Central Bank of Nigeria surged to a weekly record of N3.42 trillion at the end of…
Debt servicing consumes 64% of Nigeria’s 2024 foreign payments – Report
Nigeria has spent $2.78 billion on foreign debt servicing in the first seven months of 2024, according to data from the Central…
Nigeria’s foreign trade payments plummet by 57%
Nigeria’s payments through Letters of Credit have significantly declined, dropping by 57.04% to $391.91 million in the first seven months of 2024,…
Inflation drove Nigerians to borrow N4.82tn in Q1 2024 – CBN
Nigerians borrowed approximately N4.82 trillion from banks between January and March 2024, driven by the rising cost of living. In the Central…
CBN survey reveals insecurity as major business constraint in July
A recent survey by the Central Bank of Nigeria has identified insecurity as the foremost challenge facing businesses in Nigeria. The findings,…
CBN foresees improved business climate in Nigeria
The Central Bank of Nigeria has said that business owners are hopeful that in August 2024 and the ensuing six months, the…
CBN remittance inflows hits $553m in July
The Central Bank of Nigeria has disclosed a 130% increase in remittance inflows, with the figure reaching $553 million in July 2024.…
Banking sector benefiting from IFRS adoption – Cardoso
The Governor of the Central Bank of Nigeria, Olayemi Cardoso announced that the Nigerian banking and financial system are currently benefiting from…
CBN resumes publications of inflation survey, others for transparency
The Central Bank of Nigeria has announced the return of periodic updates on important economic indicators as part of its attempts to…