Business

Chile dismantles syndicate shipping copper to China

  • 8th April 2026

Livingtrust Mortgage Bank denies allegations of proxy share

  • 8th April 2026

CBN to recapitalise, restructure DFIs to support MSMEs

  • 8th April 2026
CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown

CBN plans FX manual to boost market transparency

  • 8th April 2026

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Naira stabilises at ₦1,379.50/$ in early Thursday trade

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Tag: CBN

Business

CBN to recapitalise, restructure DFIs to support MSMEs

The Central Bank of Nigeria has announced plans to recapitalise and restructure development finance institutions to help bridge the growing financing gap for micro, small, and medium enterprises. Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, disclosed this during a panel at the launch of the World Bank’s Nigeria Development Update in Abuja on Tuesday. […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Business

CBN plans FX manual to boost market transparency

The Deputy Governor of the Central Bank of Nigeria, Muhammad Abdullahi, announced that the regulator will soon roll out a new foreign exchange manual designed to boost inflows and enhance stability in the currency market. Speaking on Tuesday at the Nigeria Development Update event hosted by the World Bank in Abuja, Abdullahi said the initiative […]

Banking

CBN forensic audit exposes irregularities in Union Bank takeover

Fresh details have emerged regarding the circumstances that led to the regulatory intervention in Union Bank of Nigeria, with a forensic audit report alleging wide-ranging financial irregularities under the bank’s former owners and directors. The Central Bank of Nigeria had in January 2024 dissolved the bank’s board and management, citing the need to safeguard financial […]

Banking featured

CBN completes bank recapitalisation, raises N4.65trn

The Central Bank of Nigeria on Wednesday said it has concluded the banking sector recapitalisation programme, with 33 deposit money banks raising a total of N4.65 trillion in fresh capital to strengthen balance sheets and bolster the resilience of the financial system. The CBN announced the conclusion of the recapitalisation programme in a statement signed […]

Economy

PMI hits 53.2 points as Nigeria’s economy expands in March

Nigeria’s economy strengthened in March 2026, as the composite Purchasing Managers’ Index reached 53.2 points, the Central Bank of Nigeria reported. The reading marks the sixteenth consecutive month of expansion in overall economic activity. The data highlights sustained resilience across major sectors despite persistent macroeconomic challenges. Of the 36 subsectors surveyed, 31 showed growth, reflecting […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Business

CBN confirms 33 banks meet new capital requirements

The Central Bank of Nigeria has announced that 33 banks have successfully met the new minimum capital thresholds set under its recently completed recapitalisation programme, a significant step toward strengthening Nigeria’s financial system. According to the apex bank, the 24-month exercise mobilised a total of N4.65 trillion, lifting capital adequacy ratios across the industry above […]

Naira closes week stronger at N1,534.72/$ 
Business

CBN’s new diaspora remittance rules to open market

The Central Bank of Nigeria’s new reforms on diaspora remittances aim to break entrenched monopolies in the foreign exchange market, increase inflows, and enhance transparency. The President of the Association of Bureau De Change Operators of Nigeria, Aminu Gwadabe, made this disclosure on Friday that the central bank’s policy marks a crucial move toward liberalising […]

Private sector laments loan repayment as interest rate hits 26.26%
featured

32 banks meet revised capital requirements, CBN confirms

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced that 32 Nigerian banks have met the revised minimum capital requirements under the ongoing recapitalisation programme, marking a significant milestone in efforts to strengthen the nation’s financial system. Speaking at the Monetary Policy Forum in Abuja on Thursday, Cardoso described the progress as “commendable,” […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Finance

CBN cuts treasury bill rates amid ₦8trn liquidity

The Central Bank of Nigeria cut rates on longer-dated Treasury bills at its March 25 auction, even as investors poured N2.7 trillion into one-year securities to lock in attractive yields amid a liquidity glut exceeding N8 trillion in the financial system. Stop rates on the 182-day and 364-day instruments fell by 20 basis points to […]

Business

Nigeria’s banks maintain strong liquidity despite CBN N2.36tn OMO withdrawal

Nigeria’s banking system liquidity remained above N8 trillion despite the Central Bank of Nigeria withdrawing N2.36 trillion through its Open Market Operations, signaling the continued abundance of funds in the financial system. Mid-week data from the apex bank, following its OMO auction on March 23, 2026, show that the central bank’s aggressive intervention has had […]

Business

CBN to review court ruling on Union Bank, confirms stability

The Central Bank of Nigeria announced that it will review the recent court ruling concerning Union Bank of Nigeria Plc, emphasizing that the bank remains stable and continues to operate normally. The disclosure was made on Wednesday in a press statement by the Acting Director of Corporate Communications, Hakama Sidi Ali. The CBN noted that […]

Banking

Court nullifies CBN’s dissolution of Union Bank board

Justice Chukwujekwu Aneke of the Federal High Court sitting in Lagos on Wednesday nullified the January 2024 dissolution of the board and management of Union Bank of Nigeria by the Central Bank of Nigeria, declaring the action ultra vires. In his judgment, Justice Aneke set aside all decisions taken by the CBN-appointed board and ordered […]

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