CBN approves financial accommodation for Unity Bank, Providus Bank merger

The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank...

First Bank wins 2024 Euromoney award for Nigeria’s best bank

FirstBank, the West African premier financial institution and financial inclusion services provider has emerged the winner of the prestigious Euromoney Award for Nigeria’s Best Bank in...

Flutterwave gains ground in Ghana with enhanced payment service provider license

Flutterwave, a leading payments technology company, has recently been granted a Payment Service Provider license (Enhanced Category) by the Bank of Ghana. The milestone marks a...

FCMB Group to raise N397bn in three phases

FCMB Group Plc says it plans to raise N397 billion in three phases ahead of the Central Bank of Nigeria (CBN) recapitalisation exercise. Ladi Balogun, FCMB...

Zenith Bank to raise N290bn capital through Rights, Public offer

Zenith Bank Plc is set to raise N290 billion through a combination of a Rights Issue and a Public Offer in compliance with the revised minimum...

Fast payment of liquidated Heritage Bank’s customers traceable to advanced technology

Nigeria Deposit Insurance Corporation has attributed its swift payment of depositors of the failed Heritage Bank to advanced technology and robust cybersecurity measures. The managing director...

CBN sells $148m to 29 authorised dealers as dollar firms up in international currency market

Nigeria’s central bank has sold $148 million in foreign exchange to 29 authorised dealer banks in the spot market to ease demand pressure, it said on...

Tinubu’s govt, financial experts differ on banks windfall tax

Financial experts have raised concerns about the federal government’s proposed windfall tax on banks’ 2023 foreign exchange gains and its potential economic impact. They expressed divergent...

MPC further tightens the anchor rate by 50bps to 26.75%

Monetary Policy Committee (MPC) of the CBN at the end of its 296th bi-monthly policy meeting has raised the benchmark policy rate (MPR) by 50bps to...

Forex inflows into Nigeria through IMTOs rises by 39% in Q1 2024 

Central Bank of Nigeria (CBN) has said that there was a 39 per cent increase in foreign exchange inflows into the country through International Money Transfer...

CBN directs banks transfer funds in dormant account to it

Central Bank of Nigeria  (CBN) has directed all banks and other financial institutions to transfer funds in all dormant accounts to.the apex bank. A circular by...

CBN sells $106.6m to banks, BDC; to continue regular intervention in FX market

DMO offers N300bn FGN bonds for subscription at N1,000 per unit

The Debt Management Office (DMO) is offering three Federal Government of Nigeria (FGN) bonds valued at N300 billion for subscription at N1,000 per unit. According to...

Visa, London Stock Exchange services disrupted as markets drop on IT outage

Some London Stock Exchange services suffered disruptions on Friday amid a global IT outage that affected companies around the world. The LSE said securities trading was...

CBN sells forex to BDC to meet retail demand

Nigeria’s central bank on Thursday sold the dollar at 1,450 Naira to retail exchange bureaux to prop up the currency, saying that distortions in the retail...