The Head of Shared Services of the Central Bank of Nigeria (CBN) Mr. Chidi Umeano yesterday shed light on the introduction of the cashless policy, saying it was meant to discourage excessive use of cash in the economy. According to him, use of cash had negative consequences such as high […]

The past five years have been a time of change for the nation’s banks, but not all of it has been for the good. In a recent report on the sector, analysts at Ecobank Research, part of the pan-African banking group, say strategies being pursued by banks in the country […]

Nigeria’s domestic borrowing costs dropped to the lowest level since March 2013 as a strengthening naira eased pressure on inflation and bolstered demand for the debt of Africa’s largest economy. The Central Bank of Nigeria sold 157 billion naira ($973 million) of 91-, 182- and 364-day Treasury bills on May […]