Tag: CBN
CBN warns states over rising debt, short-term borrowing habit
A police officer, Inspector Abdulkadir Garba, popularly known as “Buratai,” has died after he was struck by lightning while carrying…
Naira nears key N1,350/$ mark as FX market confidence improves
The naira gained almost N10, closing at N1,357 per dollar, compared to N1,375.5/$ at the beginning of May. This means…
Dollar-Naira gap persists as parallel market hits ₦1,410
According to the Nigerian Foreign Exchange Market (NFEM), the official exchange rate is about ₦1,375.98 per dollar. Earlier in the…
Senate confirms Yuguda as CBN Deputy Governor, Onuwu as NDIC Director
Abiru in his report said the committee received the resumes of the nominees and screened them accordingly.
Forex pressure mounts as Nigeria’s reserves slide in April
Nigeria’s foreign reserves dropped by about $731 million in the first three weeks of April 2026, showing continued pressure on…
CBN, NCC launch joint offensive against SIM-linked fraud
Speaking at the signing, CBN Governor Olayemi Cardoso described the pact as a decisive move in the national interest, stressing…
CBN admits inflation jumped but says worse was avoided
The Central Bank of Nigeria (CBN) has pushed back against concerns over a sudden rise in inflation, arguing that its…
CBN introduces age limit, Phone change rules for BVN holders
This approach is designed to help banks quickly detect potential fraud while giving customers an opportunity to clarify any issues.
33 Banks meet targets as CBN concludes ₦4.65trn Recapitalisation Drive
The Central Bank of Nigeria (CBN) has concluded its sweeping banking sector recapitalisation programme, with lenders raising ₦4.65 trillion in…
Cybersecurity: Nigerian banks face tight CBN deadline
The Central Bank of Nigeria (CBN) has issued a strict directive to banks and other financial institutions, requiring them to…
Forex market tension grows as Naira slips to N1,383/$
The naira weakened slightly to N1,383.5 per dollar on Tuesday, down from N1,383 per dollar recorded on Monday, as pressure…
CBN affirms commitment to inflation targeting monetary policy
The deputy governor said that the transition to an inflation-targeting framework marked a significant shift toward a transparent, forward-looking, and…
13th Global Awards: Nigeria’s CBN scoops Central Bank of the year title
Although progress has been made, the CBN says challenges still remain, such as maintaining low inflation and completing banking reforms.
CBN sets age limit, One-time phone change in new BVN rules
Financial institutions are also required to create a temporary watchlist for BVNs linked to suspicious transactions. Such BVNs can remain…
Reactivating Dormant Accounts Just Got Easier – CBN announces new rules
The CBN also addressed concerns about data privacy and stated that the disclosure requirements comply with Nigerian data protection laws.
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