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The Central Bank of Nigeria has published operational guidelines for open banking, making it the first in Africa to do so. These guidelines will facilitate consumer data sharing between banks …
Central Bank of Nigeria Releases Landmark Open Banking Guidelines Read More
Nigeria’s one-year T-bill demand is sharply declining, despite yield increases by the CBN to 24.90%. The recent auction saw demand fall to N861 billion, the lowest this year, attributed to …
Declining Demand for Nigerian T-Bills Amid Rising Yields and Liquidity Crisis Read More
The Lagos Special Offences Court is hearing a fraud case involving Arik Air and Union Bank, prosecuted by the EFCC. The charges against Ahmed Kuru, among others, include theft and …
Testimony Begins in Arik Air Fraud Case in Lagos Court Read More
Nigeria faces economic difficulties due to high inflation and currency devaluation, prompting citizens to turn to cryptocurrency for financial stability. The government is implementing regulations for digital assets while taking …
Nigeria’s Shift to Cryptocurrency Amid Economic Crisis Read More
The ceasefire between Hamas and Israel has ended, resulting in renewed Israeli airstrikes on Hamas in Gaza. Israeli leadership insists on achieving specific objectives, including hostage recovery. Meanwhile, Hamas refuses …
Renewed Hostilities as Ceasefire Ends: Israel Strikes Hamas Positions and Trump Issues Warnings Read More
Nigeria’s Central Bank reported that $1.87 billion was spent on food imports in the first nine months of 2024, marking an increase from $1.64 billion in 2023. Monthly allocations for …
Nigeria’s Rising Food Import Costs Amidst Economic Challenges Read More
In 2024, Nigeria’s passenger car imports dropped by 14.2% to N1.26 trillion, primarily due to volatile exchange rates and rising inflation. The naira depreciated significantly against the dollar, and escalating …
Nigeria’s Car Imports Decline Due to FX Volatility and Inflation Read More
KPMG has called on Nigerian banks to adopt blockchain technology and collaborate with crypto firms to maximize opportunities in digital finance. Their report highlights the resilience of the crypto sector …
KPMG Encourages Nigerian Banks to Embrace Blockchain and Crypto Partnerships Read More
Nigeria’s debt service payments decreased from $540 million in January to $276 million in February 2025, as reported by CBN. This drop indicates successful debt restructuring efforts amidst rising Letters …
Nigeria’s Debt Service Payments Decrease Amid Trade Financing Recovery Read More
In February 2025, Nigeria’s inflation rate decreased to 23.18%, down from 24.48% in January, attributed to stable fuel prices and a rebase of the Consumer Price Index. Analysts predict inflation …
Nigeria’s Inflation Sees First Decline in 2025 Amid Stable Fuel Prices Read More