Despite fall in economic  pressures , tough reforms still required – CBN

Barbara Bako, Abuja. The Central Bank of Nigeria (CBN) has warned that despite notable improvements in key economic indicators, Nigeria must continue with tough but necessary reforms to strengthen macroeconomic…

CBN refutes $1.26bn oil import disbursement claim

Barbara Bako, Abuja. The Central Bank of Nigeria (CBN) has dismissed reports suggesting it disbursed $1.259 billion to major oil sector operators for the importation of refined petroleum products and…

CBN, Bank of Angola sign MoU to deepen cooperation

Barbara Bako, Abuja. The Central Bank of Nigeria (CBN) and the Bank of Angola have entered into a Memorandum of Understanding (MoU) aimed at enhancing bilateral ties and promoting technical…

Zenith bank surpasses CBN target with ₦350bn oversubscribed offer

Zenith Bank Plc has surpassed the Central Bank of Nigeria’s recapitalization benchmark, following the successful conclusion of its oversubscribed ₦350.46 billion public offer. The milestone, celebrated with a Closing Gong…

Edun slightly ill , Cardoso to represent him at  W’Bank-IMF meeting – FG

The Central Bank Governor, Mr Olayemi Cardoso, will lead a Nigeria’s team  to represent the Finance Minister Mr. Wale Edun at the World Bank and International Monetary Fund Annual Meeting…

UBA extends N157.8bn rights issue deadline to Sept 19

United Bank for Africa (UBA) Plc has extended the application period for its ongoing N157.84 billion rights issue, giving shareholders two additional weeks to participate in the offer. In a…

Coinsurance ban puts spotlight on Nigeria’s Takaful industry

By Barbara Bako, Abuja. A new regulatory guideline banning coinsurance arrangements between conventional insurance and Takaful companies represents a significant shift for the industry. This change will test the resilience…

NDIC, CBN reaffirms partnership on financial system stability

Barbara Bako, Abuja. The Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson O. Sunday, has reaffirmed the Corporation’s commitment to working closely with the Central…

CBN warns of fresh inflation wave as production costs soar

The Central Bank of Nigeria ( CBR̃ has warned that rising production costs across key sectors could spark a new wave of consumer price inflation, as businesses continue to absorb…

CBN affirms strength of banking sector

…Issues routine transitional guidance for selected institutionsBarbara Bako, Abuja. As part of its ongoing efforts to strengthen the banking system, the Central Bank of Nigeria (CBN) has introduced time-bound measures…