MONEY MARKET

  The Central Bank of Nigeria (CBN) has lifted the suspension on banks borrowing from its Standing Lending Facility (SLF) and set the lending rate at 31.75%, following decisions made at the 296th Monetary Policy Committee (MPC) meeting. In a statement dated August 26, 2024, Omolara Duke, the Director of...

The Central Bank of Nigeria (CBN) has announced the reintroduction of several key economic reports, signaling a renewed commitment to transparency and accountability. These reports, once readily available, will empower stakeholders to make informed decisions about the Nigerian economy. The reinstated reports include the Purchasing Managers’ Index (PMI), Business Expectation...

  The Central Bank of Nigeria has approved the framework for the merger between Providus Bank Limited and Unity Bank Plc, marking a significant milestone in the evolution of our respective institutions. This proposed merger represents a strategic and complementary union that will leverage the strengths of both banks to...

For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine. This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital...

Part of its effort to combat persistent inflation growth and stabilize the Nigerian economy, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 26.25% from 24.75% This decision was announced by CBN Governor, Olayemi Cardoso, at a press briefing held in Abuja on Tuesday following...

    The Central Bank of Nigeria (CBN) has directed banks to stop charges on cash deposits until September 30, 2024. CBN disclosed this in a circular dated May 6, 2024, and signed by its Director of Banking Supervision, Adetona Adedeji. Some bank customers had raised concerns after lenders began...

  The Central Bank of Nigeria (CBN) has released a comprehensive list of licensed Deposit Money Banks (DMB) operating within the country. The list was made public on the CBN’s official website on Tuesday and it  provides insights into the banking landscape in Nigeria. Banks with international authorisation include Access...

  Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit...

 The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC). This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday. Speaking...

  1 ADDRESS OF THE MD/CE NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC) MR BELLO HASSAN AT THE PRESS CONFERENCE ON THE REVIEW OF THE MAXIMUM DEPOSIT INSURANCE COVERAGE LEVEL, THURSDAY 2ND MAY 2024 My Executive Directors and other members of staff of the NDIC, Ladies and gentlemen of the press. I...