The Central Bank of Nigeria  has said  the nation runs a cash-based economy and this informed the central bank’s Cash-Lite Policy which aims to reduce the amount of cash in circulation. The Deputy Governor, Operations, CBN, Dr. Kingsley Moghalu, who said this in Lagos during a seminar on cashless Nigeria, […]

Some of the recently privatised power firms may not be able to meet their loan obligation to the banks that financed the privatisation process following losses being recorded in their operation, top industry sources have said. The first loan instalment of majority of the power firms will be due in […]

The Central Bank of Nigeria has directed Deposit Money Banks to henceforth destroy Automated Teller Machine cards trapped in their ATM terminals. The CBN also gave banks 24 hours to reverse debit entries arising from failed transaction attributable to system-related issues.  The directives were contained in a 14-page ‘Guidelines for […]