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Banking
Nigeria: Customers Flood Banks in Kebbi, Demanding New Naira Notes.
Customers in Birnin Kebbi flocked to banks to deposit or withdraw money, while several voiced concerns about the…
CBN Bans Abuja and Lagos PoS Operators for Cash Swap.
Mobile money/Point of Sales agents in Abuja and Lagos have been cut off from the Central Bank of Nigeria's…
CBN Initiates $15.3 billion to Help Bolster Naira.
To maintain the value of naira from January to October 2022, the Central Bank of Nigeria injected $15.3 billion…
Bank Borrowing from the CBN Increases by 260% to N21.87 trillion.
According to CBN financial data, Deposit Money Banks borrowed N21.87 trillion from the Central Bank of Nigeria in…
Nigeria: Bank Deposits Increased by 19% to N43 trillion.
Bank deposits in Nigeria increased by N6.92 trillion from N36.13 trillion at the end of October 2021 to N43.05…
CBN External Reserves Decreased by $3.43 billion in 2022.
The Central Bank of Nigeria provided data showing a $3.43 billion decline in Nigeria's foreign reserves in 2022.…
World Bank: CBN Loan Repayments will Consume 62% of Revenue.
Despite the restructuring plan, the World Bank has predicted that interest payments on the Federal Government's…
CBN: Banks’ Annual Loans To Businesses Reached N6.69 Trillion.
The Central Bank of Nigeria (CBN) recently reported that the amount of additional cash deposits that banks had…
NIBSS: Mobile Transfers in Banks Increased by N2.1 trillion in November.
According to data from the Nigeria Inter-Bank Settlement System (NIBSS), bank customers in Nigeria transferred a…
As Interest Rates Rise, Nigerians are Borrowing Less, According to the CBN.
According to Central Bank of Nigeria (CBN) records, the amount of outstanding consumer credit in Nigeria decreased…
According to Bank CEO, Digital Banking can Promote Financial Inclusion.
Ademola Adebise, Managing Director/Chief Executive Officer of Wema Bank Plc, has stated that the development of…
Banks’ Operating Expenses are Up 19.2% Due to High Inflation and Regulatory…
Following a high inflation rate and regulatory charges, 14 Nigerian banks reported N2. 03 trillion in total…
Super Central Bank Week Pressures Crypto Market.
Following its last six significant rate increases in 2022, the US Federal Open Market Committee (FOMC) declared…
Kenya Incurs Additional Foreign Debt of Sh5.4 billion.
In the fiscal year that ended in June, Kenya's external debt servicing costs increased by Sh5. 4 billion,…
Bank of England to add 50 bps to Bank Rate on Dec. 15.
Despite the economy entering a recession, the Bank of England will increase Bank Rate by another 50 basis points,…
Iranian Authorities Plan to Freeze the Bank Accounts of Women who Reject the…
According to a member of the Iranian parliament, the government intends to introduce new penalties for women who…
Despite Global Headwinds, Remittances Grew by 5% in 2022.
Remittances to low- and middle-income countries increased by an estimated 5% to $626 billion in 2022. Remittances…
Breaking: New revised Cash Withdrawal Limit By The Central Bank Of Nigeria.
According to the CBN memo released today 06 December 2022, the Central Bank Of Nigeria has revised its cash…
Zenith Receives the Award for Best Bank in Nigeria.
According to The Banker's Bank of the Year Awards 2022, Zenith Bank Plc has been named The Bank of the Year in…
The Central Bank of Nigeria Sells $9.4 billion in Forex.
In the first six months of 2022, the Central Bank of Nigeria sold $9.4 billion worth of forex in the foreign…
CBN Reimburses Non-oil Exporters with N81 billion.
According to the Central Bank of Nigeria, non-oil export proceeds returned to Nigeria increased significantly from…
The Outlook for Sterling Bank’s “BBB+” Rating is Favorable.
DataPro, the Technology-Driven Credit Rating Agency, assigned Sterling Bank Plc a long-term rating of "BBB+" with…
Banks lend N1.2tn to Construction Firms.
The loans obtained by operators in the country's construction sector from banks increased from N1. 025tn…
Nigerian Banks Increase Interest on Existing Loans to Customers By 200bps.
Commercial lenders have raised the interest rates they impose on current contracts by 200 basis points, or 2%, up…
CBK Increases Lending Fees to Control Inflation.
In an effort to control predictions of out-of-control inflation amid weakening shilling in a net import economy,…
Kenya Treasury to Issue New Bonds in Exchange for the Sh87 billion Debt.
To avert a cash shortage early in the new year, the Treasury is trying to convert Sh87. 8 billion worth of…
CBN Directs Banking Firms Nationwide to Open on Saturdays
In order to allow bank customers to exchange their old naira notes for new ones, the Central Bank of Nigeria (CBN)…
UBA Restates Commitment To SMEs Development Across Africa.
United Bank for Africa (UBA) Plc. Africa's Global Bank, has reaffirmed its commitment to the expansion of Small…
The Assets of Nigerian Banks Increased by N10 trillion to N66 trillion.
The Central Bank of Nigeria's most recent statistics show that between August 2021 and August 2022. The assets of…
To Accelerate the Growth of SMEs, Bank of Ghana Collaborates with Two Parties.
The Bank of Ghana (BoG) has teamed up with two organizations to provide the nation's micro, small, and…