Nigerian fintech start up, Paystack acquired for N76bn

PayStack, a Nigerian fintech startup, has been acquired by global fintech giant Stripe, in the biggest…

Fitch Ratings expresses concern over Nigeria’s $2bn forex demand backlog

Fitch Ratings has expressed concerns about the state of the naira and rising forex demand backlog…

Access Bank acquires another bank in Mozambique

Access Bank Plc has entered into an agreement with ABC Holdings Limited to acquire African Banking…

Sterling Bank gets CBN’s approval to restructure into Holding Company

The Central Bank of Nigeria has approved the request of Sterling Bank Plc to restructure its…

CBN unlocks N19.3trn credit from banks to private sector

As a result of the implementation of the Loan to Deposit Ratio Policy, credit provided by…

CBN approves merchant banking licence for Greenwich Trust

The Central Bank of Nigeria has approved a merchant banking licence for Greenwich Trust Limited. This,…

CBN cuts MPR to 11.5%

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the Monetary Policy Rate…

Naira slides, exchanges at 465/$

Despite the commencement of forex sale to Bureau De Change by the Central Bank of Nigeria,…

Why Nigerian banks are in dilemma over lending

The economic downturn in Nigeria is forcing the country’s lenders to rewrite their business plans. The…

Increase agriculture lending to 10%, CBN tells banks

  The Governor of the Central Bank of Nigeria, Godwin Emefiele, has urged banks to raise…

GTB posts N109.7bn profit in H1 2020

Nigeria’s most capitalised financial institution, Guaranty Trust Bank (GTB) Plc reported a pre-tax profit of N109.7…

UBA posts N300.6bn gross earnings, declares 17k interim dividend

United Bank for Africa (UBA) Plc, has announced its audited financial results for the half year…

Investors flee Nigerian stocks as FDI, FPI dip

Total domestic and foreign portfolio investment (FPI) transactions as at 31 July 2020, decreased by 19.92% from N128.88…

With nowhere to invest, Nigerians keep N36trn in banks low yield assets

Nigeria’s low-interest-rate environment for savings and investments is eroding trillions of Naira in value for Nigerians…

Analysts predict further devaluation as naira drops to N480/$

The value of the naira weakened further Wednesday at the parallel market but remained stable at…

Dollar squeeze chokes Nigeria’s economy as recession looms

Nigeria’s foreign-currency shortage is putting a lot of stress on Africa’s biggest economy. Banks won’t honour…

BDCs to get dollars on resumption of int’l flights, says CBN

The Central Bank of Nigeria (CBN) has said it would restart the auctioning of foreign exchange…

CBN to unify exchange rates, pegs naira at 379/$

The Central Bank of Nigeria on Saturday officially changed the exchange rate of the naira to…

First Bank processed N6trn transactions through FirstMonie network, says GMD

First Bank of Nigeria Ltd says it has processed transactions worth over N6 trillion on its…

CBN holds benchmark interest rate at 12.5%, says interventions yielding positive results

The monetary policy committee of the Central Bank of Nigeria (CBN) has announced its decision to…

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