November 2, 2023/FBNQuest Research According to the CBN’s most recent Quarterly Statistical Bulletin (QSB) for Q2 ’23, deposit money banks (DMB) total credit lending to the economy rose sharply by 24% q/q (+40% y/y) to NGN37.5trn in Jun ’23. This compares with a slight contraction of -1% q/q in the […]
Money Market
Demand for Cross-Border Payments Projected to Accelerate over Next 12 Months
November 1, 2023/Mastercard Mastercard’s new borderless payments report reveals consumers globally are setting up side hustles and considering working or living abroad, prompting the acceleration of cross-border payments Small businesses are also increasingly reliant on international payment networks with three in five sourcing more suppliers internationally than they were 12 […]
CBN Says No Plans to Redenominate the Naira
October 31, 2023/CBN The Central Bank of Nigeria, CBN, has denied plans that it plans to redenominate the Naira currency. This is in response to several reports that suggest the CBN is mulling a redenomination of the naira. In a statement signed by the Director of Corporate Communications of the […]
