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CBN Orders Banks to Restrict Services to Large Loan Defaulters
The Central Bank of Nigeria (CBN) has directed commercial banks across the country to immediately restrict key banking services to borrowers with large non-performing loans (NPLs) as part of efforts to enforce stricter credit discipline and protect the stability of Nigeria’s financial system.In a circular dated March 12, 2026, and signed by the Director of Banking Supervision, Olubukola…
Report: Nigerian Lawmakers Set to Pass Law That Diminishes Central Bank Influence on Crypto
Report: Nigerian Lawmakers Set to Pass Law That Diminishes Central Bank Influence on Crypto
Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a bill that seeks to amend the Investments and Securities Act of 2007, a report has said. A Nigerian lawmaker, Babangida Ibrahim, suggested that the Central Bank of Nigeria (CBN) is not well positioned to regulate cryptocurrencies. The CBN and SEC Feud The Nigerian…
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