By Adesegun Adeshi Gbenga Nigerian banks have moved swiftly to contain the effects of a sophisticated global cyber campaign sweeping across sectors and continents, with industry sources assuring the public that the nation’s financial system remains strong, resilient and secure. The campaign, described by analysts as one of the most coordinated waves of attacks in…
By Frank Ulom ABUJA (CONVERSEER) – The Central Bank of Nigeria, CBN, has debunked a claim that Polaris Bank is undergoing a liquidation process for not being able to comply with Nigeria’s recapitalisation deadline. In an X (Twitter) post on Thursday evening, the apex bank quickly labelled the claim as fake, reassuring everyone that the…
By Frank Ulom ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has revised its regulatory framework on dormant bank accounts, removing the requirement for affidavits in account reactivation, while introducing stricter controls across digital banking and identity verification systems. The changes were contained in a series of circulars dated March 12, 2026, and issued…
By Our Reporter ABUJA (CONVERSEER) – Nigeria’s Central Bank started 2026 with a careful step, cutting the key interest rate to 26.5 per cent while keeping other measures like the Cash Reserve Ratio and liquidity steady – a sign of cautious steering of the financial system. Governor Olayemi Cardoso pointed to falling inflation, stronger banks,…
By Joe Udo ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has projected that Premium Motor Spirit (PMS), also known as petrol, could rise to around N950 per litre in 2026. The forecast is based on an average crude oil price of $55 per barrel, domestic crude production of 1.5 million barrels per day,…
By Joe Udo ABUJA (CONVERSEER) – The Central Bank of Nigeria (CBN) has revoked the operational licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc. A statement by Acting Director Corporate Communications of the bank, Hakama Sidi Ali, on Tuesday, said the action, taken under BOFIA 2020 and the Revised…
