Tag: Central Bank of Nigeria
FCMB kicks off its 10th season of the Millionaire Promo, offering N1m prizes to winners across Nigeria, with draws until September 2025. First City Monument Bank (FCMB) has officially launched the 10th season of its highly anticipated...
Banks in the FCT have increased their over-the-counter withdrawal limit to N50,000, up from N5,000, improving cash access for customers. Deposit Money Banks in the Federal Capital Territory (FCT) have increased their maximum over-the-counter withdrawal limit...
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IFC, Central Bank of Nigeria Join forces to unlock $1bn local currency financing
The IFC and Central Bank of Nigeria have signed an agreement to boost local currency financing, aiming to unlock over $1bn in investments. The International...
CBN clarifies: No deadline for use of old Naira notes, all remain legal tender
The CBN confirms old Naira notes remain legal tender with no set deadline for circulation, urging the public to disregard closure rumours. The Central Bank...
Nigeria’s inflation rate rises to 32.70% in September 2024
Nigeria's headline inflation rate increased to 32.70% in September 2024, largely due to rising petrol prices. Nigeria's headline inflation rate surged to 32.70% in September...
Nigeria sees surge in cryptocurrency adoption amid economic challenges
A report by Chainalysis highlights that cryptocurrency adoption in Nigeria is increasing, with the country receiving approximately $59 billion in cryptocurrency from July 2023...
Nigerian banks leverage social media influencers to drive rights issues amid CBN capital requirements
In a bid to meet the new capital requirements set by the Central Bank of Nigeria (CBN), prominent Nigerian financial institutions, including Access Bank,...
Nigerian banks positioned to meet CBN’s recapitalization directives, says ACAMB president
The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has affirmed that commercial banks across Nigeria possess the capabilities necessary to fulfill...
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