Finance
BVN Registrations Surge as CBN’s April 2024 Deadline Approaches
The registration for Bank Verification Number (BVN) soared to 60.49 million as of January 26, 2024, with banks issuing a total of 291,232 new BVNs in the last…
Finance
Finance
World Bank Forecasts Nigeria’s GDP Growth to Reach 3.7% by 2025
The World Bank’s latest predictions anticipate a positive trajectory for Nigeria’s economy, forecasting a 3.7% increase in GDP by 2025. Despite challenges, including inflation and public debt, macro-fiscal…
Finance
Nigerian Naira Plunges to Record Low of N1,400/$ Despite Central Bank Efforts
The Nigerian naira has hit an all-time low of N1,400 against the US dollar in the parallel market, defying recent interventions by the Central Bank of Nigeria to…
Finance
Banks, Fintechs Forge Alliance to Combat Rising Fraud, Seek CBN Approval
In response to soaring fraud incidents causing substantial losses, Nigerian banks and fintech firms are engaged in discussions for a collaborative industry-wide effort to tackle fraud, a senior…
Finance
CBN Targets 21% Inflation, Pledges Naira Strengthening
Governor Olayemi Cardoso of Nigeria’s central bank outlined the institution’s goals on Wednesday, aiming to reduce inflation to approximately 21% while bolstering the country’s undervalued currency, the naira.…
Finance
CBN May Require Banks to Raise Capital to Over N900bn – Report
A new report suggests that the Central Bank of Nigeria (CBN) may instruct commercial banks with international banking licenses to increase their capital base to over N900 billion.…
Finance
Federal High Court Orders CBN to Disclose Details of MTN Nigeria Settlement in FOI Case
In a landmark judgment, Justice J.K. Omotosho of the Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to comply with a Freedom of…
Finance
World Bank: Improved Internet Access Reduces Extreme Poverty in Nigeria, Tanzania
The World Bank estimates that enhanced access to internet coverage in Nigeria and Tanzania over three years has contributed to a seven per cent reduction in extreme poverty.…
Finance
Tope Awotona: Founder of Calendly Named Richest Nigerian Immigrant in the US
Tope Awotona, the founder and CEO of scheduling software company Calendly, has been recognized by Forbes as the richest immigrant and Nigerian American residing in the United States.…
Finance
CBN to Hold First Monetary Policy Committee Meeting Under New Governor
The Central Bank of Nigeria (CBN) is set to hold its first Monetary Policy Committee (MPC) meeting under the leadership of the new Governor, Olayemi Cardoso, on February…