The Federal Government on Monday admitted that most of the problems confronting Nigeria were caused by bad governance from the nation’s leadership. The government however scored the administration of President Bola Tinubu high for his sound decision on the Central Bank of Nigeria (CBN), saying the report of audit by a special investigator would be out soon. It was reported …

The World Bank has approved a fresh $700million loan for Nigeria to enhance adolescent girls’ learning and empowerment. It disclosed this in a statement published on its website on Friday. The new loan is to provide additional funds for an ongoing project known as the Adolescent Girls Initiative for Learning and Empowerment. The statement read, “The World Bank approved additional …

Currency in circulation (CIC) in Nigeria jumped by N1.7 trillion as cash transactions increased. Figures obtained by The PUNCH from the Central Bank of Nigeria’s data on CIC revealed on Thursday that the currency in circulation hit N2.7 trillion as of the end of August. The currency in circulation fell to N982.1 billion as of the end of February 2023, …

President Bola Tinubu has approved the nomination of Dr. Olayemi Michael Cardoso to serve as the new Governor of the Central Bank of Nigeria (CBN), for a term of five years at the first instance, pending his confirmation by the Senate. The President also approved the nomination of four new Deputy Governors for the CBN for a term of five …

Nigeria’s foremost digital payment service bank, 9 Payment Service Bank (9PSB), which is focused on financial inclusion, has taken financial literacy and career mentorship to Solid Teens Foundation to enlighten the teenagers who participated in the 2023 camp activities. The aim is to ensure they are well equipped with basic financial knowledge and take the right decisions in choosing a …

The number of delisted loan apps rose from nine to 37, according to the Federal Competition and Consumer Protection Commission’s (FCCPC) new report. The number of fully approved loan apps also grew to 164 from 154 as of its last updates obtained from its website on Monday. The number of loan apps with conditional approval declined to 38 from 40, …

To ensure the efficiency and integrity of the Customs Duty Collection system, the Nigeria Customs Service (NCS) on Thurday, announced the suspension of two Deposit Money Banks (DMBs) from collecting import duty on behalf of the service. This is said to be due to the banks’ inability to accurately and timely remit the essential funds for national development. According to …

Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Obiora has been reportedly arrested by the Department of State Services (DSS). According to a report, his arrest followed allegations of financial mismanagement under suspended CBN governor, Mr. Godwin Emefiele Obiora is the Deputy Governor of the apex bank in charge of economic policy. His arrest comes on the heels …

A civil group, the Network Against Corruption and Trafficking Foundation (NACAT) has dragged the Acting Governor of the Central Bank of Nigeria (CBN), Mr. Folashodun Shonubi; and a Deputy Governor of the regulatory bank, Mr. Edward Adamu before a Federal High Court in Abuja, over alleged failure to declare their assets to the Code of Conduct Bureau (CCB). Also joined …

Tranzfar Limited, an international payment solutions provider focused on remittances, payment infrastructure and digital banking, has announced the expansion of its revolutionary Freedom Account to over 100 countries during a media parley held in Lagos. This major milestone marks a significant step forward in the company’s mission to provide accessible and secure financial solutions to people all around the world. …