CBN mandates banks to lend 60% of deposits
In a bid to boost economic growth, the Central Bank of Nigeria (CBN), yesterday, mandated Deposit Money Banks, DMBs, to give out minimum of 60 percent of their deposits as loans with effect from September 2019.
CBN summons currency dealers, others on development in forex market
The Central Bank of Nigeria (CBN) has summoned all authorised currency dealers for a meeting to discuss development in the foreign exchange market.
‘Kudimoney’ gets CBN license, rebrands to ‘Kuda’
In its quest to get rid of the illegal monthly maintenance fees banks charge its customers, a financial technology company, Kudimoney has received a Microfinance banking licence from the Central Bank of Nigeria, CBN.
Why CBN must conduct regular stress tests on banks
THIS is an open letter to Godwin Emefiele, the Governor of Central Bank of Nigeria, CBN, on the health of Nigerian banks. The purpose of the piece is not the misery index, even though current levels of inflation and unemployment are at feverish level; the essence is for him to be conducting stress tests on the Nigerian banks bi-annually. This is informed by concerns on the current state of health of the banks, which is causing apprehension among Nigerian depositors over safety of their investments.
Nigeria attracts $10.65bn Foreign Direct Investment – CBN
The Central Bank of Nigeria, CBN, yesterday said the country has attracted Foreign Direct Investment, FDI of $10.65 billion from January 2018 to last month.
Bailout funds’re structured loans — CBN
The Central Bank of Nigeria, CBN, has said the recent bailout funds were not mere freebies but guaranteed structured loans to states.
