Central Bank of Nigeria

Financial Fraud in Nigeria Surges by 45%, Central Bank Reports Alarming Trends

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Financial Fraud in Nigeria Surges by 45%, Central Bank Reports Alarming Trends

By Staff ReporterJuly 11, 2025 Nigeria’s financial sector is grappling with a dramatic 45% surge in fraud cases in 2024, with losses totaling N52.26 billion, according to the latest Nigeria Inter-Bank Settlement System (NIBSS) report cited by Fintech Magazine Africa. The Central Bank of Nigeria (CBN) has raised concerns as 70% of these losses are … Read more

10 African Central Banks Exploring Digital Currencies in 2025

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10 African Central Banks Exploring Digital Currencies in 2025

July 4, 2025 – As digital currencies gain global traction, African central banks are increasingly exploring Central Bank Digital Currencies (CBDCs) to modernize payment systems, enhance financial inclusion, and address economic challenges unique to the continent. According to a July 2025 report from Nairametrics and insights from the International Monetary Fund (IMF) and Atlantic Council, … Read more