Banks will start deducting 7.5 percent value-added tax (VAT) on banking services, including point of sale (POS) transaction fees, mobile banking transfer fees, from January 19. In an email to custome...
• Insurance sector throws spanner into fundraising plans• Merger, acquisition negotiations stalled by corporate governance• Recapitalisation only opens door for politicians to acquire more equities, s...
Having hit the highest level in January this year, the amount of cash in circulation in the country recorded its first decline since February 2023, as the volume of cash outside the formal banking sys...
Aminu Gwadabe, president of the Association of Bureaux De Change Operators of Nigeria (ABCON), said BDCs are grappling with limited availability of forex, unfavorable offer rates, fewer participating ...
In apparent reflection of liquidity constraints in the interbank money market, banks’ borrowing from the Central Bank of Nigeria, CBN, rose by 171 percent month-on-month (MoM) to N24.81 trillion in ...
MTN Nigeria has recovered ₦32 billion from Nigerian banks as part of the ₦74 billion outstanding debt owed to the telecom operator for Unstructured Supplementary Service Data (USSD) service charges. H...
