Finance

Zenith Bank becomes the first Nigerian bank to successfully integrate and launch Unstructured Supplementary Service Data (USSD) payments on Point of Sales (POS), enabling customers to pay for goods and services via POS terminals without the use of cards

UN statistics indicate that migrants from developing countries sent home 466 billion dollars in 2017, tripling the amount sent globally for development aid

International Monetary Fund (IMF) approves $3.7 billion credit to Angola

The Central Bank of Nigeria (CBN) in collaboration with the Nigerian Postal Service (NIPOST) reveals it would commence a national Micro Finance Bank (MFB) in January 2019

The Federal Government has begun the sale of its second tranche 7-year N100 billion sovereign sukuk, the Debt Management Office (DMO), said on Thursday.

The Nigeria Deposit Insurance Corporation (NDIC), on Wednesday, offered insights why the Central Bank of Nigeria (CBN) revoked the licenses of 154 Micro Finance Banks (MFBs) and six Primary Mortgage Banks.

South Africa’s rand is expected to erase around a third of the 10 per cent gains made in the past two months in the run-up to May elections as strong volatility rattles the currency, a Reuters poll found on Thursday.

Nigeria Deposit Insurance Corporation (NDIC), Wednesday, offered insights into why the Central Bank of Nigeria (CBN) revoked the licenses of 154 Micro Finance Banks (MFBs) and six Primary Mortgage Banks (PMBs).

Dr Herbert Wigwe, the Managing Director of Access Bank Plc., says Fintech in a few years, will change the face of financial services as the next big thing in Africa.

The number of African Export-Import Bank (Afreximbank) member countries swelled to 50 on Wednesday, with the Central African Republic (CAR) formalising her membership by depositing the instrument of the country’s ratification of the Bank Establishment Agreement in Cairo, Egypt.

In its first intervention in the foreign exchange market for December, the Central Bank of Nigeria (CBN) yesterday injected the sum of $210 million in the inter-bank foreign exchange market.

The Central Bank of Nigeria (CBN) may increase the number of items not eligible for forex from 41 items to include many others products being produced in Nigeria.

Should oil prices continue to decline and fall below Nigeria’s Medium Term Expenditure Framework (MTEF) benchmark of $60 per barrel, the impact on the country’s economy could include the naira depreciating to $380/$, analysts at Financial Derivatives Company (FDC) have predicted.

The Central Bank of Nigeria (CBN) has granted Diamond Bank approval to operate as a national bank with immediate effect.

The Central Bank of Nigeria (CBN) has continued its intervention in the retail Secondary Market Intervention Sales (SMIS) by injecting a total of $331.22 million in that segment of the market, in addition to CNY51.86 million in the spot and short-tenored forwards segment.

Diamond Bank, a mid-tier lender, has received approval from the Central Bank of Nigeria (CBN) to operate only in the country in a move to lower capital requirements after selling its international units, it was learnt at the weekend.

It is not going to be easy for banks, companies and individuals behind activities aimed at undermining the extant policy on the 41 items banned from accessing foreign exchange at the official window of the Central Bank of Nigeria (CBN), as it is now declared economic sabotage.

The Central Bank of Nigeria (CBN) has threatened to sanction any bank, company or foreign exchange operator that engage in any act that undermines the policy of 41 items not allowed in the official foreign exchange (FX) window.