30 results
- 26 Jan 2022
CBN Cautions Nigerians against Seeking Credit Facilities from Loan Sharks
Central Bank of Nigeria (CBN) cautioned Nigerians against seeking credit facilities from loan sharks for financial purposes, urging them to patronise licenced banks. Mr Godwin Emefiele, Governor of…
- 9 Oct 2025
Fidelity Bank Set to Disburse NCGC N5bn Credit Guarantee Facility to Boost MSME Financing
Fidelity Bank Plc, tier one lender, has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme. The…
- 29 Jun 2020
CBN Warns N50Bn Loan Applicants against Fraudsters
Central Bank of Nigeria (CBN) has warned prospective applicants for the bank’s N50 billion Targeted Credit Facility (TCF) to beware of fraudsters using employees names as a front. Mr. Godwin…
- 22 Apr 2020
NIRSAL to Begin Disbursement of CBN’s N50Bn COVID-19 Fund Today
NIRSAL Microfinance Bank said it will today (Thursday) begin the disbursement of the first tranche of the Central Bank of Nigeria (CBN) N50 billion targeted credit facility. Mr. Godwin Emefiele, CBN…
- 21 Mar 2021
CBN to Increase COVID-19 TCF to N300Bn
Central Bank of Nigeria (CBN) has said it will increase its Targeted Credit Facility for households and small and medium enterprises from N150 billion to N300 billion. Godwin Emefiele, governor of…
- 22 Nov 2023
Wema Bank Signs $50m Facility with ECOWAS Bank for Investment, Devt
Wema Bank has signed a credit facility of $50 million with the Economic Community of West African State (ECOWAS) Bank for Investment and Development (EBID). The funds are reserved specifically to…
- 1 Apr 2024
Some Nigerian Reportedly Owing CBN N261.07Bn COVID-19 Loan
Some Nigerians who benefited from the Central Bank of Nigeria (CBN) and NIRSAL Microfinance Bank’s targeted credit facility (TCF) have failed to pay N261.07bn out of N419.42bn given out, according to…
- 11 Mar 2021
CBN Reopens COVID-19 Loan Portal for Households, Businesses
Central Bank of Nigeria (CBN) is receiving applications for its N50 billion targeted credit facility (TCF) aimed at supporting households and micro, small and medium enterprises (MSMEs) affected by…
- 14 Apr 2020
COVID-19: NIRSAL Receives 80,000 Applications for N50Bn CBN Stimulus Package
Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), has received 80,000 applications on the N50 billion Targeted Credit Facility (TCF) released by the Central Bank of…
- 15 Mar 2021
NIRSAL Microfinance Bank Warns Public on Loan Scammers
NIRSAL) on Monday raised the alarm over the activities of scammers posing as its staff or agents, demanding and receiving money from unsuspecting members of the public purportedly to secure COVID-19…
- 20 Mar 2022
CBN Slashes Interest on Intervention Loans to 5 Per Cent
Central Bank of Nigeria (CBN) has cut interest rates on all intervention facilities from nine to five per cent per annum. The regulatory forbearance would allow banks to restructure loans given to…
- 19 Jul 2020
Women to Get 60 Per Cent of CBN’s N220Bn MSMEs Fund
Federal government has announced plans to roll out a N2.3 trillion stimulus package and survival fund for Micro Small and Medium Enterprises (MSMEs) to stay afloat amid the economic challenges…
- 22 Sept 2020
CBN Disburses N3.5tr COVID-19 Intervention Cash
Central Bank of Nigeria (CBN) had disbursed N3.5 trillion to different sectors of the economy to cushion the effects of the Coronavirus pandemic. Mr. Godwin Emefiele, CBN governor It will also…
- 16 Jul 2026
BOI Pledges to Drive Nigeria's Cocoa and Dairy Sectors with 70% of its €85m EIB Facility
Bank of Industry (BOI) has secured a €60 million credit facility from the European Investment Bank to fund Nigeria’s cocoa and dairy value addition drive, with a focus on processing, ingredients and…
- 9 Sept 2020
CBN, Bankers Committee Move to Tackle Cyber Security With Moni Sense
The Bankers’ Committee of Nigeria in partnership with the Central Bank of Nigeria, has unveiled its cybersecurity & fraud awareness campaign, known as ‘Moni Sense’. Moni Sense, is specifically…
- 1 Feb 2021
Nigeria Monetary Policy Makers in Tight Spot as Stagflation Takes Hold
By Lukman Otunuga, Senior Research Analyst at FXTM Nigerian monetary policymakers face three main pressures this quarter: the ongoing COVID-19 pandemic and a pressing need for economic stimulus in…
- 27 Oct 2019
Private Sector Gets N25.47 Trillion Facility from Banks
Banking sector’s credit to private sector rose to N25.47tn in September, setting a new record for the year, a new report by the Central Bank of Nigeria (CBN) has revealed. Analysts have said…
- 13 Oct 2025
EU Grants Nigeria N320.5Bn to Boost Agriculture
European Union’s development cooperation with Nigeria has received a boost with a N320.5 billion (€190 million) credit line allocated to Nigerian commercial banks to broaden their lending to the…
- 21 Oct 2025
Banks' Funding Failure: The Shocking Rot In Nigeria's Intervention Programmes
By Blaise Udunze For over a decade, the Nigerian government and its financial institutions have launched a flurry of intervention funds, all with the promise to empower industries, revive the…
- 20 Jun 2021
Sterling Bank Calls for Monetisation of Intellectual Property
Sterling Bank Plc has called for monetization of intellectual property of creators in the creative industry. Mr Lanre Olalusi, head of Creative and Entertainment Business Financing of the Bank, made…
- 6 Jul 2021
DFA Applauds CBN’s Oversight Functions on NIRSAL’s Operations
The Development Finance Advocates (DFA), a network of individuals who believe and support the adoption of development finance strategy in growing the Nigerian economy has commended the Central Bank…
- 1 May 2020
NIRSAL MFB Taps 3,256 for N50Bn COVID-19
NIRSAL Microfinance Bank (NMFB) has begun the disbursement of the Central Bank of Nigeria (CBN) N50billion loan as COVID-19 palliatives to SMEs and households. The first batch of the beneficiaries…
- 13 Apr 2020
CBN Denies Charging Fee on COVID-19 Loan Application
Central Bank of Nigeria (CBN) has said that the bank does not charge any fee on COVID-19 loan application as claimed in false reports circulated on social media. Mr Isaac Okorafor, director,…
- 7 Oct 2021
CBN Commits over N1.3 trillion to Boost Economy
The Central Bank of Nigeria (CBN) has committed over N1.3 trillion to various intervention programmes, in order to boost the economy, in the last one and half years following the outbreak of the…
- 16 Jan 2022
Periculum, Canadian Fintech Opens Operation in Nigeria, Sets to Build Credit Assessment Infrastructure for Africa
Periculum, Canadian fintech startup and credit assessment company, has launched in Nigeria to tackle the challenge of domestic credit to the underserved markets. Focused on improving financial…
- 17 Jan 2022
Periculum Launches in Nigeria, Set to Build Credit Assessment Infrastructure for Africa
The availability of domestic credit is a key requirement for consistent economic growth in developing countries. The vitality of financial services such as banking, savings, debt and equity…
- 29 Apr 2021
CBN Fires all First Bank Directors, Reinstates Sacked MD
Central Bank of Nigeria (CBN), has sacked all First Bank of Nigeria (FBN) directors and appointed new ones with immediate effect. The CBN also accused the directors of corporate governance breach,…
- 4 Nov 2013
55m Nigerians Unaware Of Mobile Money-Philips Consulting
Close to 40 percent of Nigerians, representing almost one-third of the population, are still unaware of the service, a survey carried out by Philips Consulting has shown. Using 1987 sample size,…
- 3 Nov 2025
World Bank Fixes December to Approve Nigeria’s $1Bn DPF Loan
The World Bank has fixed December 16 as the tentative date for the approval of Nigeria’s $1 billion Development Policy Financing (DPF) under the Nigeria Actions for Investment and Jobs Acceleration…
- 14 Jul 2014
UBA Launches Salary Advance Credit Card for Workers
United Bank for Africa (UBA) Plc, has announced the introduction of a new product “U-Advance Card,” a payment card that allows workers who operate a salary account with UBA to get a credit…