Central Bank of Nigeria

Likely reasons Airtel and Globacom want to own 9Mobile

Nigeria’s 4th largest GSM operator 9Mobile could have a new owner in a couple of weeks as 5 bidders have been shortlisted from the initial 16 that …

Nigeria

Nigeria: 'Mobile Money Banking Will Positively Impact Financial Inclusion, Reduce Poverty'

The Head, Financial Inclusion Secretariat (FIS), Central Bank of Nigeria (CBN), Temitope Akin Fadeyi, has said that mobile money banking will …

Banking

Nigerian Fintech Entrepreneur Omotade Odunowo On Mobile Money, Financial Inclusion And Fashion

Nigerian entrepreneur Omotade Odunowo is one of the leading lights in Nigeria’s burgeoning Fintech space. Fets Limited, the company she founded in 2011, is a Central Bank of Nigeria (CBN) licensed mobile money operator that provides convenient, reliable and affordable online and mobile payment …

Entrepreneurship

NNPC offers automatic scholarship to best graduating abu student.

By Ben Agande<br>The Nigerian National Petroleum Corporation Saturday offered automatic scholarship to the over all best student, Mr. Al-Amin …

Nigeria

Increased Oil Production Lifts Nigeria's GDP

Increased Oil Production Lifts Nigeria's GDPThe presidency has hailed the latest report that the country's gross domestic product grew by 1.40% in …

Economy

Nigeria:Biometrics Will Replace ATM Code Soon - Central Bank

[Leadership] The Central Bank of Nigeria (CBN) has disclosed that with the Bank Verification Number (BVN) in place, biometrics will soon be used for …

Banking

Nigeria: Economist Urges Govt to Reduce Interest Rates to 12%

An Economist, Dr Bongo Adi, has advised the Federal Government to reduce interest rates from 14 per cent to 12 per cent, to stimulate growth in the …

Economy

Nigerian MPs absolve MTN of illegal repatriation

Lagos — Nigerian legislators investigating allegations of illegal repatriation of almost $14bn by MTN’s local unit found the company had not violated …

Business (South Africa)

Nigeria: Moody's Downgrades Nigeria's Bond Rating, Govt Disagrees

Ratings agency Moody's has cut Nigeria's long-term foreign-currency bond to B1 from Ba3 and kept its outlook stable, saying Nigerian efforts to …

Economy

Nigeria's Senate approves report exonerating MTN Nigeria over fund transfers

ABUJA (Reuters) - Nigeria’s Senate approved on Wednesday a report largely exonerating South African telecoms company MTN Group Ltd’s Nigerian unit, after the business was accused of illegally repatriating $14 billion to its parent.<p>A shopper walks past an MTN shop at a mall in Johannesburg, South …

Nigeria

Nigeria:Central Bank Raises the Alarm Over Fake Website

[This Day] Abuja -The Central Bank of Nigeria (CBN) has raised the alarm over a fake website purported to belong to it, which was deployed by …

Nigeria

Nigeria's 2020 Vision for Financial Inclusion

Nigeria's 2020 Vision for Financial InclusionThe Central Bank of Nigeria's goal is to cut down by 80% the number of people excluded from the …

Banking

Nigeria: CBN Targets 80% Financial Inclusion By 2020

Abuja — The Central Bank of Nigeria (CBN) assured Nigerians Wednesday that it would work aggressively towards increasing financial inclusion rate to …

Banking

Nigeria:CBN Injects U.S.$285.7 Million Into Forex

[Vanguard] The Central Bank of Nigeria (CBN), yesterday, injected a total of $285,759,449.10 into the Inter-Bank Foreign Exchange Market to meet …

Economy

Nigeria:Naira Scarcity Hits Interbank Market As Overnight Lending Rises to 120%

[This Day] There was naira scarcity on the interbank market Tuesday, leading the overnight tenor of the Nigerian Interbank Offered Rate (NIBOR) to …

Economy

Transferwise resumes Nigeria money transfers citing confidence in naira

LAGOS, Oct 20 (Reuters) - Money transfer company Transferwise has resumed remittances to Nigeria after a 17-month break, having confidence in the central bank’s handling of the naira, its chief executive said on Friday.<p>Remittances or money transfers make up the second-largest source of foreign …

Nigeria

UPDATE 1-Transferwise resumes Nigeria money transfers citing confidence in naira

(Adds details of partners)<p>By Alexis Akwagyiram<p>LAGOS, Oct 20 (Reuters) - Money transfer company Transferwise has resumed remittances to Nigeria after a 17-month break because it has regained confidence in the central bank’s handling of the naira currency, its chief executive said on …

Nigeria

Nigeria:Experts Differ Over Govt's Plan to Continue Borrowing

[Leadership] The announcement by the federal government over the weekend that it will continue to borrow money, especially from abroad to fund …

Economics

Nigeria: Buhari Writes Senate, Seeks Confirmation of Aisha Ahmad As CBN Deputy Governor

Aisha Ahmad, waiting to be confirmed as Deputy Governor of Central Bank of Nigeria<p>President Muhammadu Buhari on Thursday wrote the Senate to seek …

Nigeria

Aishah Ahmad Named Nigeria's New Central Bank Deputy Governor

Guardian, 6 October 2017<p>President Muhammadu Buhari has forwarded the name of Mrs. Aishah Ahmad to the Senate for confirmation as Deputy Governor of …

Nigeria

Nigeria:2018 Budget May Be Jerked to N10 Trillion - Senate

[Vanguard] Abuja -The Senate, Thursday said that by all indications and economic indicators available that the executive may not be able to implement …

Muhammadu Buhari

Nigeria: 'Slow Pace of Financial Inclusion May Cripple Growth'

Lagos, Nigeria.<p>Despite Nigeria's targets to pursue universal financial access to all working age groups by 2020, the slow pace of the goal in the …

Banking

Why Big Institutions Fear Blockchain Apps

One of the most promising recent developments in democracy has been decentralization. Since the internet took off in the 1990s, the mainstream media …

Bitcoin

Nigerian P2P Bitcoin Exchange Offers Services to All African Nations

<b>The Nigerian person-to-person (P2P) bitcoin exchange, Bitkoin.Africa, launched on October 1st. The exchange currently only provides Nigerian users</b> …

Cryptocurrency

Nigerian Embassies Facing Threats From Host Countries - Senate

Nigerian Embassy in Israel.<p>The Senate, yesterday, raised the alarm that the nation's diplomatic missions were facing challenges of inability to pay …

Nigeria

Nigeria: CBN On the Move Again to Create 360,000 New Jobs

[Leadership] Abuja -For President Muhammadu Buhari, the Central Bank of Nigeria (CBN) does not only deserve commendation for entrenching stability in …

Economy

Nigeria: Bank Illegally Funnels Huge Cash to Fund 'Broke Federal Govt'

Central Bank of Nigeria.<p>A massive and clearly illegal multi-source funding of the federal government by the Central Bank of Nigeria (CBN) could drag …

Economy

Nigeria: Cash Requirement for Forward Dollar Purchases Causes Naira Shortage

Naira.<p>A Central Bank of Nigeria (CBN) requirement that companies back forward dollar purchases with naira is drying up supply of the local currency, …

Economy

Nigeria: Govt Lost N70 Billion to Failed Banks

[This Day] Abuja -The federal government disclosed thursday that it lost over N70 billion to failed banks.

Nigeria

Nigeria: Govt Strategises to Check Slipping Back Into Recession

Vice President Yemi Osinbajo has announced initiatives to bolster spending in all tiers of the Nigerian economy as part of measures to boost growth …

Economy