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In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion will not attract interest payment.
A large proportion of the N7.9 trillion pieces of naira notes in circulation are dirty, mutilated, unfit for Automated Teller Machines (ATMs) and over-the-counter payments, the Central Bank of Nigeria (CBN) has said.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, yesterday disclosed that total aggregate loans granted by Microfinance Banks (MFBs) to micro small and medium enterprises (MSMEs) in the country stood at N482.896 billion as at December 2018.
The Central Bank of Nigeria (CBN), says it will issue loans at five per cent and with no collateral to Small and Medium Enterprises (SMEs) through the NIRSAL Micro Finance Bank (MFB).
The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.
The Central Bank of Nigeria (CBN) on Thursday said the proposed increase in minimum wage for Nigerian workers would stimulate output growth in the economy.
For their inability to service their huge debts, Deposit Money Banks (DMBs) have taken over the assets of some defaulting oil marketers.
The Nigeria Deposit Insurance Corporation (NDIC), said it paid N1.45 billion to 16, 324 depositors of 34 closed Deposit Money Banks (DMBs) in 2017.
The Supervising Minister of Finance, Zainab Ahmed, on Friday expressed serious concerns over the rising incidence of non-performing loans (NPLs) in deposit money banks (DMBs) in the country.
The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, Tuesday said a total of N11.50 billion had been paid to depositors, creditors, shareholders and other stakeholders of closed financial institutions as at December 31, 2017.
The Central Bank of Nigeria on Wednesday said it has commenced a review of the information provided by telecoms giant, MTN, and four banks sanctioned recently over alleged illegal repatriation of funds.
The Central Bank of Nigeria (CBN) on Thursday unveiled terms for long-term credits to key sectors of the economy to boost real sector growth.
Also, it stressed that refinancing of existing loans is prohibited for funding under the programme, saying that any attempt to falsify information would also attract severe sanctions.
The Deputy Governor of Lagos State, Dr. Oluranti Adebule, has advocated for nutrition education in schools to help fight the prevalence of malnutrition in underage children.
The Central Bank of Nigeria might start lending to companies directly by buying their commercial papers.
As the Central Bank of Nigeria (CBN) at the weekendordered all Deposit Money Banks (DMBs) to sell forex to travellers over the counter, the Association of Bureaux De Change Operators of Nigeria (ABCON) has kicked against the order calling on the regulator to review BDC’s dollar purchase rate to align with rate commercial banks’ buying rate.
The Central Bank of Nigeria (CBN) on Sunday directed all commercial banks and Bureau de Changes (BDCs) to sell foreign exchange (Forex) to all eligible travelers over the counter, regardless of their customer status.
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Gov. Aminu Masari of Katsina State says, for dialogue and amnesty programme for cattle rustlers and bandits in the Northwest to succeed, it must involve all state governments in the zone.
A 47-year-old tailor, Popoola Abolade, was on Friday brought before a Yaba Magistrates’ Court in Lagos, for allegedly defrauding a company of N1.48 million.
The All Progressives Congress (APC) stakeholders Kogi State chapter, have taken legal action against the party’s National Working Committee (NWC) over the indirect mode of primaries adopted by the national leadership for the election of candidates for the November 16 Kogi State governorship poll.
US rapper A$AP Rocky will spend another week in custody in Sweden as police continue to investigate an alleged fight in Stockholm.
A Kabusa Grade I Area Court, Abuja on Friday ordered that an apprentice, Olaniyan Joshua, charged with attempting to steal a vehicle, be remanded in prison, pending hearing on bail application.
Mr Solomon Ogbonna, the President, Ohaneze Ndi Igbo, Lagos chapter, on Thursday said encouraging individuals to speak the three major indigenous languages would end tribal conflict in Nigeria.
Nigeria recorded a funding gap of $310.84 million or N111.9 billion for Tuberculosis, TB, control in 2018.
Some football stakeholders on Monday rued Sunday’s loss by the Super Eagles to Algeria in Cairo as undeserved, even though they admitted the better team won during the match.
An Igbosere Magistrates’ Court in Lagos on Monday sentenced a driver, Adeyemi Adeshina, to 48 months imprisonment for stealing N326, 000 from a colleague’s mobile banking application.
The appointment of Justice Muhammad Tanko as Chief Justice of Nigeria (CJN) has been confirmed by the Senate.