Nigeria’s Federal Government borrowing surged to N40.38 trillion in May 2026, raising concerns over reduced private sector lending and economic growth.
Tag: CBN
Aliko Dangote, Director of the Dangote Group, has reprimanded the National Bank of Nigeria (CBN) for raising the loan fee to almost 30%. Talking at the Feast Corridor of the State House in Abuja during the initial meeting of a three-day culmination coordinated by the Producers Relationship of Nigeria (MAN) on Tuesday, July 2, Dangote […]
Foreign currency has been prohibited for use as collaterals for naira loans with exceptions to Eurobonds including Standby Letters of Credit. According to reports, the ban was issued by the Central Bank of Nigeria (CBN) and they have given banks 3 months to wind up naira loans that have been backed up by foreign currency […]
CBN ‘ Central Bank of Nigeria ‘ has announced that cash deposits into domiciliary accounts will no longer be restricted. The statement by the apex bank came after a meeting with the bankers’ committee on Sunday, June 18 as regards guidance to Deposit Money Banks (DMBs). According to the CBN, the policy will promote transparency, […]
CBN has reportedly revoked the operating licenses of 132 Microfinance Banks, three finance companies and four primary mortgage banks . The CBN said the Microfinance Banks, Finance Companies and Primary Mortgage Banks ceased to carry on, in Nigeria, the type of business for which their licences were issued for a continuous period of six months. […]