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CBN holds benchmark interest rate at 27.5%

Nigeria, May 20 -- The Central Bank of Nigeria on Tuesday kept its key interest rate unchanged at 27.5 per cent. The decision, announced by CBN Governor Olayemi Cardoso at the end of a two-day Moneta... Read More


Nigerian banks remain safe, sound - CBN

Nigeria, May 20 -- The Central Bank of Nigeria (CBN) has assured the public that the country's banking sector remains stable, following what it described as misleading media and social media reports a... Read More


Access Bank faces charges over alleged diversion of N826 million

Nigeria, May 19 -- Access Bank Plc and one of its employees are enmeshed in legal troubles after a four-count charge was filed against them at the Federal High Court over alleged diversion of N825.9 m... Read More


Court dismisses MultiChoice suit against FCCPC over price hike investigation

Nigeria, May 9 -- The Federal High Court in Abuja has dismissed a lawsuit filed by MultiChoice Nigeria Limited, which sought to stop the Federal Competition and Consumer Protection Commission (FCCPC) ... Read More


INFOGRAPHICS: Charts that explain CBN's 2024 financial position

Nigeria, May 7 -- After recording a record loss of N1.27 trillion in 2023, the Central Bank of Nigeria (CBN) returned to profitability in 2024 with a surplus of N38.8 billion, newly released financial... Read More


CBN makes profit in 2024 after N1.2 trillion loss in 2023

Nigeria, May 4 -- The Central Bank of Nigeria returned to profit in 2024, posting a surplus of N38.8 billion after recording a massive loss of N1.15 trillion the year before, its new financial stateme... Read More


GTB to begin charging N6 per SMS alert, up from N4

Nigeria, April 30 -- Guaranty Trust Bank will from 1 May begin charging N6 for each SMS transaction alert, up from the current N4, marking a 50 per cent increase in the fee. In a Wednesday notice to ... Read More


CBN eases paperwork for pan-African payment system

Nigeria, April 29 -- The Central Bank of Nigeria (CBN) on Monday eased documentation requirements for low-value transactions under the Pan-African Payment and Settlement System, aiming to boost cross-... Read More


Access Bank reacts as ex-worker is arrested for serial recording of colleagues in restroom

Nigeria, April 28 -- Access Bank said it is cooperating with authorities after a former employee was accused of secretly recording colleagues in a restroom at the bank's contact centre in Lagos. The ... Read More


UBA targets expansion to 100 countries, one billion customer base

Nigeria, April 28 -- United Bank for Africa (UBA) aims to extend its operations to over 100 countries and serve one billion customers within the next 75 years, the bank's CEO, Oliver Alawuba, said on ... Read More