News

Reps Inaugurate Committee to Probe N200bn CBN Metering Fund

By The Insight Team May 7, 2025 530

mostbet mostbet sekabet mostbet mostbet mostbet mostbet mostbet Key points The House inaugurated a sub-committee on May 6, 2025, to investigate the N200 billion NMMP fund. Only N55.4 billion of the N59.28 billion earmarked for Phase Zero was released, with over 37,000 meters unaccounted for. DisCos have repaid just N7.1 billion of the loan, with interest yet to be addressed. Phases 1 and […]Continue Reading

Banking Business

Retail, Hospitality, Food Industries Top the List as Lagos Records N6.3 Trillion in PoS Transactions in 2024

By The Insight Team February 8, 2025 732

By Emmanuel Kwada The Nigerian economy has witnessed a significant surge in Point of Sales (PoS) transactions in 2024, with the total value of transactions reaching an all-time high of N18 trillion. This represents a 69% increase compared to the N10.7 trillion recorded in 2023. The data, obtained from the Nigeria Inter-Bank Settlement System (NIBSS), […]Continue Reading

News

Forensic Audit of CBN underway as we win back investor confidence, President Tinubu tells World Bank Chief

By The Insight Team August 5, 2023 428

  President Bola Tinubu says a comprehensive forensic audit of the Central Bank is underway, while a thorough overhaul of the Civil Service payroll is imminent. The President disclosed this during an audience with the President of the World Bank, Mr. Ajay Banga on Friday at the Presidential Villa, Abuja. ”A comprehensive forensic audit is […]Continue Reading

Banking News

‘Withdraw regulations on customers’ social media handles or face legal action’, SERAP tells CBN

By The Insight Team June 27, 2023 409

  Socio-Economic Rights and Accountability Project (SERAP) has urged Mr Folashodun Shonubi, Acting Governor, Central Bank of Nigeria (CBN) to “immediately delete the patently unlawful provisions in the Central Bank of Nigeria (Customer Due Diligence) Regulations directing banks to obtain information on customers’ social media handles for the purpose of Continue Reading

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CBN confirms evacuation of banknotes to DMBs

By The Insight Team March 24, 2023 491

…Directs Banks to open their branches on Saturday and Sunday …CBN Gov to monitor compliance personally The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults to commercial banks across the country as part of a coordinated effort to ease the circulation of banknotes of various denominations. The CBN has […]Continue Reading

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No economic development without vibrant and successful small and medium enterprise sector—President Buhari

By The Insight Team March 16, 2023 391

President Muhammadu Buhari Thursday declared that for any economy to grow and create jobs, an equally vibrant and successful small and medium enterprise sector was also needed, adding that it was for this reason that he recently signed the Business Facilitation Bill into law. President Buhari spoke at State House, Abuja as he received the […]Continue Reading

Banking Blogs Business Media Top Story Zenith Bank, Cross Rivers, Nigeria, Banking, Economy

Kogi sensitises residents, fuel stations on old naira notes acceptance

By The Insight Team March 14, 2023 478

The officials of Kogi Government and Stakeholders in the financial sectors, have sensitised Kogi residents on the need to accept the old naira notes in line with the Supreme Court judgment. The News Agency of Nigeria (NAN) recalls that the Supreme Court on March 3, ruled that the new and old naira notes should co-exist […]Continue Reading

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FactCheck: No, Nigeria hasn’t introduced N5,000 and N2,000 banknotes

By The Insight Team October 28, 2022 875

By David Ajikobi A video posted on Facebook in July 2021 shows piles of what seem to be Nigerian naira banknotes. A hand lifts bundles of the notes to the camera, revealing that they have the insignia and name of the central bank and are in denominations of N5,000 and N2,000. A woman’s voice can […]Continue Reading

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National Economic Council Commends Nigeria Sovereign Investment Authority’s performance

By The Insight Team August 20, 2022 545 Post a comment

Receives briefing on crude oil production & security Council sub-committee to consider Governors’ concerns over ownership of new NNPC Ltd By Daniel Adaji The National Economic Council (NEC) has endorsed a report on the 2021 financial performance of the Nigeria Sovereign Investment Authority (NSIA), commending the board and management for a credible performance despite Continue Reading

Features Top Story

‘What Buhari told outgoing ministers’

By The Insight Team May 13, 2022 519 Post a comment

President Muhammadu Buhari on Friday in Abuja bade farewell to outgoing members of the Federal Executive Council (FEC), affirming that a significant number of them have been sufficiently equipped to aspire to higher elective offices, including the Office of the President. Speaking at a valedictory session for appointees leaving the cabinet to pursue political ambitions, Continue Reading

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‘What IMF says about eNaira’

By The Insight Team November 16, 2021 617

By Jack Ree, IMF African Department The Central Bank of Nigeria (CBN) officially launched the “ eNaira”—a central bank digital currency (CBDC)—on October 25, 2021. This is the second CBDC fully open to the public after the Bahamas. Other countries and regions, such as China and the Eastern Caribbean Currency Union, have been conducting CBDC […]Continue Reading

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‘Nigeria is Printing Money’ – The Road to Zimbabwe

By The Insight Team April 21, 2021 738

By Nick Agule Within the last week, a war of words has ensued over the management of the Nigerian economy with Gov Obaseki of Edo State firing the first salvo by accusing the FG of the catastrophic management of the economy alleging that the FG is printing money to fund federal allocations. Nigeria’s Finance Minister […]Continue Reading