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Business

Nigeria’s Banking Industry Remains Resilient, Says CBN

The Central Bank of Nigeria on Monday said that the Capital Adequacy Ratio (CAR) of the banking industry are within the regulatory thresholds as...

Business

Naira Crashes By N255/$ In A Single Day At Official Window, As Currency Nears Convergence With Parallel Market

The naira has crashed to N1,099.05 per dollar on Friday at the official foreign exchange window, bringing it closer to the rate traded at...

Business

CBN Stress Test Reveals Banks Capital Adequacy Fall Below Requirement

A stress test conducted by the Central Bank of Nigeria (CBN) on Deposit Money Banks (DMB) has revealed that the capital adequacy ratio (CAR)...

Business

NIBSS Orders Banks To Disconnect Payment Service Providers, Super Agents From Transfer List

The Nigeria Inter-Bank Settlement System has directed banks to remove Payment Solution Service Providers, Switches and Super Agents from its outward transfer list.The NIBSS...

Business

PiggyVest, Opay, Others React As Customers Panic Over NIBSS Directive To Remove Payment Service Providers

Mobile Money Operators (MM0s) and Financial Technology firms have reacted to the new directives from the Nigeria Inter-Bank Settlement System (NIBSS) for banks to...

Business

FG Takes Fresh N4.05trn Loan From CBN, Domestic Market Amidst Ways And Means Outcry

The federal government has taken N4.047trn additional borrowings between January to September 2023, thereby raising fresh concerns on a repeat of the abuse of...

Business

NDIC Backs CBN Planned Recapitalisation For Nigeria’s Banking Sector

The Nigerian Deposit Insurance Corporation has said that planned recapitalisation of the banking industry by the Central Bank of Nigeria (CBN) was a step...

Business

Bank Recapitalisation: Smaller Banks Should Not Be Regulated Out Of Existence- Uwaleke Warns CBN

The Central Bank of Nigeria has been advised to implement its recapitalisation plan with caution so that it does not regulate regional and other...

Business

BREAKING: Mergers, Acquisition Loom As CBN Governor Unveils Recapitalization Plans For Nigerian Banks

The Central Bank of Nigeria has said that it will call for bank recapitalisation to service Nigeria’s $1trn economy.The governor of the Central Bank,...

Business

After Criticisms, CBN Set To Unveil MPC Direction, 2024 Economic Outlook

The Central Bank of Nigeria has said that it will unveil its Monetary Policy Thrust and Economic Outlook for 2024 on Friday, November 24,...

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