Tag: CBN
Why the CBN Is Managing the Naira’s Rise Carefully
Many observers assume that policymakers should celebrate a sharply rising currency. A stronger naira reduces the cost of imports and…
Breaking: Tinubu nominates ex-SEC Boss Yuguda as CBN Deputy Governor
Before his nomination, Yuguda served as the Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, where…
CBN data shows Nigeria’s money supply drops to ₦123.36tn
Despite the slight month-to-month drop, the money supply is still significantly higher compared to the same period last year, showing…
Naira slides for second week, hits N1,393 against dollar
The continued weakening of the local currency comes despite efforts by the Central Bank of Nigeria to stabilise the market.…
Forex Alert: CBN buys $190M to slow Naira’s rapid rise
Analysts also said higher oil prices, increasing foreign reserves, and ongoing economic reforms are helping to keep the naira stable…
Breaking, Business, Top Stories
CBN cuts Interest Rate again to 26.5%
Other key parameters were left unchanged, with the Cash Reserve Ratio retained at 45 per cent for commercial banks and…
Single African Currency: Nigeria to host African Central Bank, boost continental Influence
Nigeria’s permanent seat on the AMI Board will last only during the transition period before the African Central Bank is…
Customs rejects N1,451/$ claim, Insists CBN sends official rates
The NCS assured importers, exporters, licensed customs agents, and international partners that its valuation process remains accurate, transparent, and in…
CBN hits banks with N10m fine over unaccredited cheque printers
The regulator said the updated framework is aimed at strengthening compliance, improving cheque security features and safeguarding the integrity of…
CBN issues strong warning against naira abuse
She assured the stakeholders of the apex bank’s dedication to maintaining economic stability and strengthening structural reforms.
Naira appreciates further against dollar
Market watchers also expect movements of the Naira to remain gradual in the near term, as authorities balance reforms with…
CBN sounds alarm over Nigeria’s foreign-dependent fintech
The CBN said its focus on domestic funding, regulatory updates, and innovation infrastructure aims to make Nigeria not only a…
CBN raises red flag over fintech boom, warns of stability risks
The report further revealed that 62.5 per cent of surveyed fintech firms operate or plan to expand into other African…
Opay, Palmpay, Moniepoint get CBN upgrade
“Most of their customers operate in the informal sector. They need a clear point of contact if any issues arise.”
ATM Woes: CBN prepares fresh debit card rules
ATM Woes: CBN prepares fresh debit card rules
The 2026 Nigerian bank recapitalization: where does your bank stand?
The CBN set a high bar of ₦500 billion for international banks and ₦200 billion for National banks. Crucially, this…
NCC, CBN to unveil refund framework for failed airtime, data transactions
The framework represents a unified position by both the telecommunications and financial sectors on addressing such complaints.
Naira weakens against dollar at official market
The naira began the week stronger, appreciating by N2.59 at the official window on Monday.
‘Why CBN revoked operating licences of Aso savings, Union homes’
CBN said Aso Savings and Loans Plc and Union Homes Savings and Loans Plc violated various sections of regulations guiding…
CBN Data: Naira rebounds after week of mild losses
Data released by the Central Bank of Nigeria (CBN) showed that the local currency closed at N1,454.41 to the dollar,…
New Banking Rules: How the CBN’s withdrawal limits affect you
The CBN has completely removed the limit on cash deposits. This means customers can now deposit any amount of money…
CBN celebrates milestone as foreign reserves jump to $46.8bn
According to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, this is the highest level the country…
SERAP demands answers over missing N3trn in CBN account
“Nigerians have the right to know the whereabouts of the public funds. Taking the recommended measures would advance the right…
CBN gives reasons for stability in Naira exchange rate
The exchange rate had climbed to about N1,800 to a dollar at the height of market volatility but had stabilised…
Naira depreciates again as CBN records 1.04% weekly decline
Despite the mixed performance, Nigeria’s foreign reserves continued to grow, reaching $43.32 billion as of November 6, 2025.
CBN told to introduce ₦10,000, ₦20,000 notes
illustrate the extent of the currency’s decline, the report compared prices from 2005 to 2025: a kilogram of imported rice…
CBN survey shows Nigerians still expect prices to rise despite slight economic optimism
Businesses and households in Nigeria have listed high interest rates, multiple taxes, and poor infrastructure as the biggest challenges they…
Osun Govt seeks withdrawal of suit on withheld LG funds
Adetunbi said that the suit, which sought to safeguard the withheld local government funds, had been defeated as the allocation…
CBN, AGF bid to stop suit on withheld Osun LG funds fail
The judge dismissed the motion filed by the state government calling for the return of the case to the Osogbo…
Nigeria’s trade surplus climbed to 6% – Cardoso
Cardoso, who also led the Nigerian delegation to the annual meeting of the IMF/World Bank Group in Washington, reiterated the…