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Tag: Central Bank of Nigeria (CBN)

Business news

FG, CBN sign MoU to Align Fiscal, Monetary Policies

The Federal Government and the Central Bank of Nigeria (CBN) on Friday signed a Memorandum of Understanding (MoU) to institutionalise coordination between fiscal and monetary policies. The agreement, signed by the Federal Ministry of Finance and the CBN, provides a structured framework for regular consultation, information exchange and policy coordination between the two institutions. Speaking […]

General News

CBN Puts Diaspora Remittances @ $947m in July

Remittance inflows through International Money Transfer Operators (IMTOs) hit a record high of $947 million in July 2026, as it nears the $1 billion monthly target set by the Central Bank of Nigeria (CBN), data from the apex bank has shown. According to the CBN IMTO inflows reached $3.8 billion in the first seven months […]

News

NITDA Unveils National Sovereignty Cloud Regulatory Instruments to Secure Nigeria’s Digital Future

In a bold move to strengthen Nigeria’s digital sovereignty and the digital economy, the National Information Technology Development Agency (NITDA) has formally unveiled the National Sovereignty Cloud Initiative (NSCI) Regulatory Instruments, thereby setting a new benchmark for the country’s digital future. The NSCI is a strategic programme of the federal government coordinated by NITDA. It […]

Business news

NDIC Moves to Boost Customers’ Confidence in Nigerian Banks

The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to safeguarding the nation’s financial system, announcing that its recent upward review of the maximum deposit insurance coverage now protects about 99% of depositors in the Country. Kabir Katata, Executive Director (Operations), NDIC, stated this on Wednesday at the Corporation’s 2025 Stakeholders’ Town Hall Meeting […]

Business news

CBN Grants BoI Approval to Operate Non-interest Banking

The Bank of Industry (BoI) said it has received regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window, marking a significant milestone in the bank’s growth and long-term development agenda. A statement from the bank said the approval authorises BoI to commence Non-Interest Banking operations, positioning the bank […]

Business news

Shareholders Endorse Providus–Unity Banks Business Combination

Rising from a court-ordered Extraordinary General Meeting (EGM) on Friday, the shareholders and Boards of Directors of Providus Bank and Unity Bank have given their resounding approval to proceed with the business combination of the two financial institutions. The nod to go ahead by the boards and shareholders of the two institutions signifies a moment […]

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