As much as N30 billion may have been paid by banks through their Automated Teller Machines (ATMs) within the first four days of the protests over the removal of fuel subsidy by the federal government, BusinessWorld Intelligence can now reveal.

The Central Bank of Nigeria (CBN) in its effort to include all strata of the population in the financial sector has said that promotion of Microfinance is a vital strategy. This strategy of financial inclusion or inclusive financing according to Wikipedia, 2011 is the delivery of financial services at affordable costs to sections of disadvantaged and segments of low income of the society.

The Central Bank of Nigeria (CBN) has concluded the initiative to implement the electronic payment of government suppliers, all forms of taxes, salaries and pension in Nigeria.

There are strong indications that the number of banks operating in the country may be reduced to one digit in the next few years as a new wave of mergers and acquisitions have been envisaged by experts as necessary response to the imminent glut in deposit and unexpected distress.

The Nigeria Deposit Insurance Corporation (NDIC) is proposing to include the stock market in its coverage as a way of restoring confidence in the capital market and to protect small investors.

There are palpable fears as the Central Bank of Nigeria (CBN) insists on beginning the implementation of the retail payments transformation initiative also known as cashless economy.

When Mr. Sanusi Lamido, governor Central Bank of Nigeria (CBN)  said Nigerians has seen the worst in the banking sector, and that with the nationalization of the three rescued banks unable to get suitors to recapitalize has marked the begin of new  and prosperous era in the sector.
Even though many see the nationalization of former Afribank, Bank PHB and Spring Bank as very unpopular, but Sanusi insists that the option was indeed the best considering the circumstance we found our economy.

The Federal government has secured about N2.2tn investment communication from foreign and local investors for the non-oil sector of the economy in the next 12 months.