CBN implements a revised cash reserve approach
The Central Bank of Nigeria has announced the discontinuation of daily Cash Reserve Ratio debits, opting for an updated Cash Reserve Requirement mechanism.
This strategic...
NNPCL has granted concessions for 36 oil blocks to IOCs and other entities
The most recent data from the Nigerian National Petroleum Company Limited reveals that no fewer than 36 oil blocks are currently under concession to...
CBN predicts that the growth of the service sector will be driven by digital lending
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has revealed that in 2024, mobile money and digital lending are expected to spearhead...
Fidelity Bank anticipates facing a litigation-related loss exceeding N1 billion
Fidelity Bank's management anticipates a potential loss of approximately N1.19 billion due to claims and legal proceedings for the fiscal year ending December 2023,...
The Naira experiences a recovery as banks unload surplus dollars
Before the Central Bank of Nigeria's midnight deadline on February 1, 2024, instructing commercial banks to divest their excess foreign exchange reserves, Deposit Money...
