Section 50(3) stipulates that these accounts must be published in the government gazette “as soon as possible.” ...

Members of the OPS pointed out that the scarcity of cash has adversely affected businesses, especially those in the Micro, ...

In order to satisfy customer demand brought on by an upsurge in business activity, banks and merchant banks borrowed an ...

ABUJA, Dec. 16 (Xinhua) -- The Central Bank of Nigeria (CBN) has said it would begin to checkmate and penalize deposit money banks and other financial institutions caught illegally disbursing funds to ...

Nigeria's inflation rate for the month of November 2024 rose to 34.60 percent from 33.88 percent in October, indicating ...

Nigeria is currently undergoing forex reforms, yielding mixed results. Despite these efforts, the exchange rate remains ...

The bank cited incidents of banks facilitating the illicit flow of mint Naira notes through direct actions or inactions.

Roughly 93% of total currency in circulation — or 4 trillion naira ($2.6 billion) — sits outside of banks as of September.

High interest rates have contributed to the naira’s appreciation, which rose by 9 percent between Q2 2023 and Q4 2024, ...