Beneath the glossy veneer of rapid growth and digital convenience, OPay, once assumed as a beacon of Nigeria’s fintech revolution, is imploding. Investigations, corroborated by court documents, regulatory actions, extensive customer testimonials, and financial security analysts, reveals a platform riddled with systemic failures, leaving millions vulnerable to allegations of fraud, entangled in Kafkaesque customer…
As the quest to reset the volume of Nigerian Economy to $1trillion reach a crescendo, there are strong indications that the Central Bank of Nigeria (CBN), the Ministry of Finance, are ready to hone strategies with technocrats from across sectors at the upcoming 2025 National Finance and Business Online publishers (FIBOP)conference. Arrangements are in…
The Federal Government has accused the Central Bank of Nigeria (CBN) of misappropriating N2.73 trillion in interest payments on Ways and Means advances, spotlighting alleged irregularities in the management of public funds. This revelation came to light through the 2021 consolidated financial statement of the Federal Government, submitted to the National Assembly by the…
Olayemi Cardoso has sacked all CBN Directors under NIRSAL. Truetells Nigeria reports that the Central Bank of Nigeria (CBN) has sacked all directors under the Executive management of the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL). According to THEWILL, one of the affected personnel said the apex bank Governor, Mr Olayemi Cardoso, approved the sack on Friday….
The Central Bank of Nigeria (CBN) has denied claims that it is investigating Ecobank Nigeria and Ecobank Transnational Inc. Specialised Resolutions Company (ETISRC) for alleged extortion. In response to a statement titled ‘Central Bank of Nigeria investigating allegations of extortion at Ecobank Nigeria,’ the CBN clarified that it is not conducting any probe into the financial…
The Central Bank of Nigeria (CBN) has retrenched nearly 200 employees across various departments in a bank-wide restructuring exercise. The latest round of job cuts across several departments, including: Human Resources; Development Finance; Trade and Exchange (including a prominent director, Dr. Hassan Mahmud); Financial Policy and Regulation and Procurement and Support Services (All service coordinators…
The Central Bank of Nigeria (CBN) has raised the interest rate by 150 basis points to 26.25 per cent. The Monetary Policy Committee of the apex bank increased the benchmark interest rate to 26.25 per cent on Tuesday. This was disclosed by the Governor of the CBN, Yemi Cardoso, who doubles as the Chairman of…
Unity Bank Plc has engaged students from all the geopolitical zones of the federation as it facilitated financial literacy training in 15 schools as part of activities to mark the 2024 Global Money Week. The Financial Literacy Training was held as a strategy for driving financial inclusion of the Central Bank of Nigeria and Bankers Committee. Unity Bank’s…
The Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate by 200 basis points to 24.75 per cent in a continued chase to tame inflationary pressures. This is according to a communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja today March 26. …
Barring any last minute changes, at least eight directors at the Central Bank of Nigeria (CBN) would be served early retirement letters from the apex… Barring any last minute changes, at least eight directors at the Central Bank of Nigeria (CBN) would be served early retirement letters from the apex bank this week. These directors,…
