Buhari to unveil eNaira on Monday says CBN
President Muhammadu Buhari is scheduled to formally unveil the Nigerian Central Bank Digital Currency (CBDC), known as the eNaira, on Monday 25 October 2021, at the State House, Abuja,…
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Payment of liquidation dividends to depositors of failed banks ongoing
The Nigeria Deposit Insurance Corporation (NDIC) is currently settling the liquidation dividends of depositors of banks whose licenses were revoked by the Central Bank of Nigeria (CBN).…
CBN says banks remain stable, resilient despite pandemic
The Central Bank of Nigeria (CBN) says banks in the country have remained stable, robust, and resilient in spite of the COVID-19 pandemic.
Haruna Mustafa, the director, Banking…
IMF highlights 3 areas of concern for policy makers in sub-saharan Africa
The International Monetary Fund (IMF) on Thursday highlighted three areas which need concerted action by policymakers in Sub-saharan African countries and the international community.
The…
NDIC develops methodology for deposit insurance funding ratio
The Nigeria Deposit Insurance Corporation (NDIC) says it is developing an effective methodology for determining a realistic Target Funding Ratio (TFR) for the Corporation.
The strategy,…
FMDQ Clear becomes observer member of CCP12
In line with its vision “to become a globally accepted CCP by 2025”, FMDQ Clear Limited (FMDQ Clear), a wholly owned subsidiary of FMDQ Holdings Plc (FMDQ Group), was admitted to the Global…
CBN expects 75,000 jobs annually from entrepreneur graduates of universities
The CBN on Wednesday released the guidelines for the Tertiary Institutions Entrepreneurship Scheme (TIES), expecting 75,000 jobs annually from entrepreneur graduates of universities and…
See what Nigerian banks are charging for dollar transaction
As foreign exchange pressure persists, some Nigerian banks have increased dollar charges by 45.15 percent per dollar, an affected customer told BusinessDay.
"I performed a dollar…
DMO to conduct N150bn FG’s bond on Wednesday
The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria (FGN) will conduct a bond worth N150 billion at the Primary Market Auction (PMA) on Wednesday, October 20,…
MFS Africa expands into Nigeria to acquire leading super-agent network Baxi
MFS Africa, the largest pan-African digital payments hub, on Wednesday announced that it had signed an agreement to acquire Baxi, one of Nigeria's leading super-agent networks. The deal,…