MONEY MARKET

Liquidation dividends: NDIC renews call to depositors of 20 closed banks, NDIC has commenced payments, NDIC wants deposit insurance, NDIC to partner BPSR, framework for empowering NDIC, Senate confirms Hassan, increase deposit insurance fund, ICAN member-auditors on accuracy, integrity, NDIC synergy with CIBN The Nigeria Deposit Insurance Corporation (NDIC) has...

In an apparent response to claims by the Minister of Finance, Budget and National Planning, Zainab Ahmad, that her ministry was not carried along by the Central Bank of Nigeria (CBN), in the ongoing process of redesigning three series of the Naira, the Bank insists it followed the law and...

In order to deepen eNaira usage in the country, the Central Bank of Nigeria (CBN) said on Saturday that it was targeting to establish at least 10 agents’ offices in each of the 774 Local Government Areas of the country, bringing their numbers to 7,740. Speaking at the sensitisation event...

  The  Central Bank of Nigeria (CBN) has released an exposure draft of the guidelines for the regulation of representative offices of foreign banks in Nigeria. This to solicit public comments on proposed regulations. This was disclosed in a recent circular dated October 12, 2022, and signed by Chibuzo Efobi,...

Data released by the Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that transactions worth N32.8 trillion were performed electronically in September through the NIBSS Instant Payment platform (NIP). This brings the total value of e-payment deals in the last 9 months to N271.5 trillion Year on year, the e-payment value...

The Central Bank of Nigeria (CBN) said it has recovered N3.7 trillion out of the N9.3 trillion it lent to different sectors of the economy under its Development Interventions Programme. The Director of Development Finance Department, Dr Yusuf Yila disclosed this on Wednesday in Abuja at the post-MPC briefing of...

The Central Bank of Nigeria (CBN) on Tuesday, raised its benchmark interest rate, known as Monetary Policy Rate (MPR), to 15.5 per cent, the third straight hike this year. After the two-day Monetary Policy Committee (MPC) meeting in Abuja, the CBN also raised the Cash Reserve Ratio (CRR) to 32.5...

  With the unanimous support received from her shareholders, Sterling Bank, soon to be known as Sterling Financial Holdings Company, is firmly positioned to expand her financial services footprint from traditional banking and deliver more value to her shareholders. According to the publicly available filings reviewed from the website of...

  The Central Bank of Nigeria (CBN) has disowned reports that it would soon withdraw naira notes from circulation. Reacting to the report on Saturday, the Director, Corporate Communications Department of the CBN, Mr Osita Nwanisobi, said the statement purportedly made during a stakeholders’ engagement on eNaira adoption in Asaba,...

    In alignment with the Central Bank of Nigeria’s (CBN) Financial Literacy Day, Heritage Bank Plc, Nigeria's Most Innovative Banking Service provider has joined the rest of the world in the celebration of 2022 Global Money Week. The 2022 Global Money Week was scheduled to take place from the...