Micro-insurers must deposit 10% minimum capital with CBN — NAICOM
THE National Insurance Commission, NAICOM, has said that prospective microinsurers must maintain a statutory deposit of 10 percent of the minimum capital requirement with the Central Bank of Nigeria, CBN.
Losses to e-fraud declines by 38%
THE Central Bank of Nigeria (CBN) has said that losses to electronic fraud dropped by 38 percent to N406 million in two years.
CBN set to blacklist loan defaulters
The Central Bank of Nigeria under the auspices of the Bankers’ Committee has concluded plans to use the Bank Verification Number of customers to blacklist loan defaulters from accessing further loans in the nation’s banking system.
Cost of funds nosedives as CBN halts liquidity mop-up operations
COST of funds in the interbank money market fell sharply last week, as the Central Bank of Nigeria (CBN), for the first time this year, suspended its weekly liquidity mop-up operations signalling relaxation of its tight money policy. Average short term interest rates nose-dived by 2, 174 basis points (bpts), while interest rate on Collateralised lending fell by 2,066 bpts.
CBN unveils new measures to create jobs
Central Bank of Nigeria (CBN) has unveiled two-policy measures designed to accelerate the growth of the nation’s Gross Domestic Product (GDP), boost non-oil export revenue and facilitate job creation.
Abusers of naira notes risk six months in jail — CBN
The Central Bank of Nigeria (CBN) yesterday cautioned Nigerians against abusing the naira notes,warning that anyone caught would risk six months imprisonment or pay a fine of N50,000.
