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Finance
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Naira Gains Value Against Dollar Across Markets
The naira recorded gains in both the official and parallel markets as the exchange rate gap narrowed significantly.
Depositors face partial recovery as CBN shuts 46 microfinance banks
Bank Customers’ Association of Nigeria President Dr. Uju Ogunbunka warns that the revocation of 46 microfinance bank licenses will cause widespread financial hardship, incomplete deposit recovery, and a potential decline in national financial inclusion.
Naira Exchange Rate Analysis: July 3, 2026
The Nigerian Naira showed steady performance against the Dollar on Friday, with rates aligning closely between official and parallel markets as liquidity stabilizes.
Nigerian Naira Declines Against Dollar in Both Official and Parallel Markets
The Naira weakened against the dollar in both official and parallel markets yesterday, leading to a wider gap between the two rates as trading volume fell.
Analyst Highlights Regulatory Risks Following CBN License Withdrawal for 46 Microfinance Banks
The CBN has revoked the licenses of 46 microfinance banks for failing to meet regulatory standards, a move experts warn could lead to financial instability for local small business owners.
Nigerian Naira Gains Value Against Dollar
The Nigerian Naira strengthened against the dollar in both the official and parallel markets, although trading volume at the NFEM dropped significantly.
NDIC Appointed Liquidator for 46 Failed Microfinance Banks
Following the revocation of licenses for 46 microfinance banks by the CBN, the NDIC has stepped in to manage their liquidation and warned the public against illegal transactions with these failed institutions.
Federal Government targets N5.8 trillion via Q3 2026 Treasury Bills
The Central Bank of Nigeria aims to raise N5.8 trillion in the third quarter of 2026 through Treasury Bills to support federal government borrowing needs.
Central Bank of Nigeria cancels licenses of 46 microfinance banks
The Central Bank of Nigeria has revoked the licenses of 46 microfinance banks effective July 1 due to their failure to meet required regulatory standards and operational obligations.
Central Bank of Nigeria Withdraws Licences of 46 Microfinance Banks
The Central Bank of Nigeria has officially revoked the operational licences of 46 microfinance banks due to their failure to meet mandatory regulatory and financial requirements.