CBN survey predicts stable naira, lower interest rates in 2026
The naira is expected to remain largely stable over the next six months, while borrowing rates are projected to decline within the…
CBN
Banks brace for forced mergers amid recapitalisation deadline
Nigeria’s banking industry is projected to enter a forced round of mergers and acquisitions in 2026, as lenders scramble to meet the…
CBN eases foreign card use for tourists, returning Nigerians
The Central Bank of Nigeria has issued a new directive to banks and other financial institutions aimed at easing the use of…
CBN orders banks to implement multi-factor authentication for foreign cards
The Central Bank of Nigeria has instructed all banks and financial institutions to implement multi-factor authentication for foreign card transactions exceeding $200…
CBN okays Lucidum Finance for full operations
The Central Bank of Nigeria has issued an operational licence to Lucidum Finance Company Limited. Lucidum confirmed that the approval was conveyed…
CBN mandates dual connectivity for PoS transactions
The Central Bank of Nigeria has issued a directive compelling all financial institutions, acquirers, and payment service providers to implement mandatory dual…
CBN imposes 25% cash limit on travel allowances from BDCs
The Central Bank of Nigeria has implemented a new restriction on the amount of cash beneficiaries can receive when accessing their Personal…
Reps in rowdy session over CBN’s non-remitted N5.2trn federal revenue
A rowdy session broke out on the floor of the Nigerian House of Representatives on Wednesday as lawmakers debated a motion alleging…
CBN strengthens agricultural financing with inauguration of ACGSF board
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has inaugurated a board for the Agricultural Credit Guarantee Scheme Fund in…
CBN licenses 82 BDCs to operate in FX market
The Central Bank of Nigeria on Monday announced that it has granted 82 Bureau De Changes final licenses to operate in the…
External reserves surpass $45bn as Nigeria records major FX boost
Nigeria’s external reserves have surpassed $45 billion, according to new figures from the Central Bank of Nigeria. With reserves now at $45.04…
CBN announces new ATM withdrawal
The Central Bank of Nigeria has updated its cash withdrawal regulations, ending the special authorisation that allowed individuals to withdraw N5 million…