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Tag: CBN

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

Nigeria’s foreign reserves surpass $46bn, highest since 2018 — Cardoso

Nigeria’s foreign reserves have surpassed $46 billion, the highest level since 2018. The Central Bank Governor, Yemi Cardoso, made this disclosure at the 20th-anniversary colloquium of the Monetary Policy Department in Abuja. Cardoso, represented by the Deputy Governor for Economic Policy, Dr. Muhammad Abdullahi, said the reserve level is strong enough to finance more than […]

Economy featured

Nigeria’s economy expands 11 month consecutively — Report

Nigeria’s economy expanded for the eleventh consecutive month as the Central Bank of Nigeria Purchasing Managers’ Index rose to 55.4 index points in October 2025 from 54 index points recorded in the previous month. The CBN report indicated that the sectors leading this expansion included industry, services, and agriculture. The report stated: “The composite PMI […]

Business

Nigeria’s debt market hits ₦91.99tn amid rising yields, sell-offs

Nigeria’s fixed income yields surged last week amid widespread sell-offs across market segments, pushing the nation’s total debt stock to ₦91.99 trillion. Investors sought higher returns in anticipation of further monetary tightening by the Central Bank of Nigeria. According to data from FMDQ Group Plc for the week ended November 7, 2025, the total debt […]

Finance

CBN OMO auction fails, sells only ₦1.11bn at 21.69%

The Central Bank of Nigeria’s Open Market Operations auction saw poor demand on Friday despite offering a stop rate of 21.69 per cent, suggesting the market is pushing back against the current rate environment and the central bank’s pricing. The auction, which was carried out on Friday, October 31, offered ₦300 billion each across a […]

Finance

Nigeria’s money supply falls to ₦118trn amid CBN tightening

Nigeria’s money supply fell month-on-month to about ₦118 trillion in September 2025, down from ₦119.7 trillion in August, according to the Central Bank of Nigeria. The apex bank disclosed this in its Money and Credit Statistics Data for September 2025, attributing the decline primarily to a drop in banks’ credit to the economy amid continued […]

Finance

CBN refutes report of $1.26bn forex allocation for fuel import

The Central Bank of Nigeria has refuted a report claiming that it allocated $1.269 billion in foreign exchange for the importation of petroleum products in the first quarter of the year, stating on Tuesday in a statement that the report was misleading and inaccurate. The CBN directly addressed the misrepresentation, clarifying its position: “The Central […]

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

Oil marketers get $1.26bn forex allocation from CBN

The Central Bank of Nigeria has disbursed a total of $1.26 billion to operators in the oil sector for the importation of petroleum products and related items in the first quarter of 2025. The release comes amid marketers’ continued preference for imported fuel despite the availability of petrol from the Dangote Refinery. Fresh data from […]

Business featured

High bank charges, taxes top Nigerian business constraints — CBN

Businesses and households have clearly identified high interest rates, multiple taxes, and poor infrastructure as the top three constraints impacting operations in September 2025, even as they collectively expressed optimism about the macroeconomy in the coming months. In its Business Expectation Survey, the Central Bank of Nigeria reported the robust confidence level, stating: “The Confidence […]

Finance

CBN, Bank of Angola sign MoU to boost bilateral central banking

The Central Bank of Nigeria and the Bank of Angola on Thursday formally signed a Memorandum of Understanding aimed at fostering closer bilateral relations and significantly enhancing capacity in core central banking operations. The signing ceremony saw the Governor of the Bank of Angola, Mr. Manuel Tiago Diaz, and the Governor of the Central Bank […]

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

CBN, Bank of Angola ink MoU to boost technical collaboration

The Central Bank of Nigeria and the Bank of Angola have signed a Memorandum of Understanding to strengthen bilateral ties and build capacity in central banking operations. The agreement was signed on Thursday in Washington D.C., on the sidelines of the IMF/World Bank Annual Meetings, marking a key step in deepening financial cooperation between the […]

Banking

Nigeria’s trade surplus rises to 6% of GDP — CBN gov

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has announced that Nigeria’s trade surplus has increased to 6 per cent of the nation’s Gross Domestic Product and is expected to remain stable at that level in the near term. This was disclosed by the cbn governor during the G-24 press briefing held on […]

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