MONEY MARKET

Nigeria sold a total of N229.63 billion worth of the short-dated Treasury bills at higher returns to try to lure foreign investors to participate at the debt auction after the regulatory bank hike the Cash Reserves Requirements (CRR) for banks to 27.5 percent from 22.5 percent. The one-year treasury bills,...

The Central Bank of Nigeria (CBN) says it has retained the minimum 65 per cent of Loan Deposit Ratio in the interim. The CBN made this known in a circular signed by its Director of Banking Supervision, Mr Ahmad Abdullahi in Abuja on Wednesday. The bank explained that it had...

Some bank customers have frowned at their banks’ for not complying with the new guidelines for charges on Automated Teller Machine (ATM), released by the Central Bank of Nigeria (CBN). Some of the customers who spoke to the News Agency of Nigeria (NAN), in Abuja, regretted that banks had now...

      The latest report from the Nigerian Inter-Bank Settlement Scheme (NIBSS) has shown that banks’ customers carried out financial transactions on the instant payment and Point of Sale (PoS) platforms worth N97.32 trillion between January and November this year. A breakdown of the data indicated that the customers...

To crease the list of items notvalid-for foreign exchange funding above 43 items to ease pressure on the country’s current account, CBN Deputy Governor, Economic Policy, Edward Lametek  Adamu has said. The advice was contained in his personal statement in Monetary Policy Committee (MPC) report released on Wednesday by the...

  Banks customers on Monday commended the Central Bank of Nigeria (CBN) for its move in slashing various banks charges. According to The News Agency of Nigeria (NAN) reports customers in Abuja on Monday described the development as the right step in the right direction. On Sunday, the apex bank...

The Central Bank of Nigeria (CBN) says the worth of money refund to bank customers as at Nov. 30 stood at N76.75 billion and 20.90 million dollars. Mr Kofo-Abdulsalam Alada, the Director, Consumer Protection Department (CPD) of CBN, said this at a workshop for business editors and members of the...

The Nigeria Deposit Insurance Corporation (NDIC) says full disclosure of information about any financial technology (fintech) operator is required before licensing it. It said concealment of information about their operations had slowed down the pace of their licensing in the country. Dr Kabir Katata, the Deputy Director, Research Department of...

The Nigeria Deposit Insurance Corporation (NDIC) has warned financial technology (Fintech) operators against disclosing their customers’ financial details without appropriate permission. Dr Kabir Katata, Deputy Director, Research Department of NDIC, gave the advice in Yola on Wednesday at the 2019 NDIC Workshop for Business Editors and Finance Correspondents Association of...

  as NDIC restates commitment to zero-tolerance to infractions The Central Bank of Nigeria (CBN) has said that banks’ Loan to Deposit Ratio (LDR) will be increased from its current position of 65 per cent to 70 per cent by 2020. The CBN Director, Banking Supervision Department, Mr. Hassan Bello...