The Central Bank of Nigeria (CBN) in March 2024 introduced a new recapitalisation policy requiring banks to increase their minimum capital base according to their licence category. This policy, with…
The Nigerian Interbank Settlement System (NIBSS) is a critical financial infrastructure institution responsible for enabling seamless electronic payments and settlements across Nigeria’s banking system. Incorporated in 1993 and commencing operations…
As Nigeria prepares for the 2026 fiscal year, the Central Bank of Nigeria (CBN) has painted a picture of cautious but substantive economic recovery, anchored on reforms in macroeconomic management,…
Guaranty Trust Holding Company Plc (GTCO) has announced a capital injection of N365.85 billion into its subsidiary company, Guaranty Trust Bank Limited (GTBank), as a measure to meet the Central…
Nigeria’s liquid foreign reserves have climbed to $40.320 billion; a figure last recorded in December 2021 when the country accumulated a reserve of $40,35 billion. Reserves once again hit the…
Artificial Intelligence (AI) has become a global topical issue considering its fast adoption by industry players across all sectors. While some celebrate it for the innovation it brings into production…
Nigeria’s foreign exchange reserves have experienced a significant decline in the first three weeks of January 2025, raising concerns among economic analysts. According to data released by the Central Bank…
The Central Bank of Nigeria (CBN) has announced the imminent launch of the Nigerian Foreign Exchange (FX) Code, a significant step towards enhancing the ethical conduct and transparency of the…
Nigerian telecom companies collectively owed banks a substantial N1.69 trillion as of September 2024, according to the latest Central Bank of Nigeria (CBN) report. The telecom debt is a decline…
The Central Bank of Nigeria (CBN) has taken a decisive step to enhance foreign exchange (FX) regulations by suspending the approval of extensions for the repatriation of export proceeds. This…