CBN orders struggling banks to halt dividends, bonuses
The Central Bank of Nigeria has mandated banks under regulatory forbearance to halt dividend payouts, postpone executive bonuses, and suspend investments in…
CBN
CBN denies extension of BDC recapitalisation deadline
The Central Bank of Nigeria has denied reports suggesting that the deadline for the recapitalisation of Bureau De Change operators has been…
CBN commits to long-term stability through sustained reforms
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has reiterated the bank’s dedication to restoring investor confidence and ensuring…
ICYMI: Cash outside banks declines again as tightening continues
Currency held outside Nigeria’s banking system declined for the second consecutive month in 2025, falling to ₦4.57 trillion in April from ₦4.60…
Private sector credit hits ₦77.9tn in April 2025
Credit to Nigeria’s private sector climbed to ₦77.9 trillion in April 2025, up from ₦76.2 trillion in March, according to the latest…
Foreign trade payments climb to $267.96m – CBN
Nigeria’s settlement of foreign trade transactions via Letters of Credit rose by 3.68% year-on-year to $267.96 million in the first four months…
CBN unveils draft to boost anti-money laundering compliance
The Central Bank of Nigeria has introduced a draft framework to revolutionize anti-money laundering practices across the nation’s financial sector, targeting enhanced…
CBN retains MPR at 27.5% for second time in 2025
The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 27.50% for the second time…
Nigerian banking sector remain safe, CBN dismisses distress report
The Central Bank of Nigeria has confirmed the stability and safety of the country’s banking sector amid circulating unverified social media reports…
CBN cuts FG loans by over N4tn
The Central Bank of Nigeria experienced a significant decline of N4.145 trillion in net loans and receivables in 2024, mainly due to…
Diaspora Nigerians to pay ₦80,000 for remote BVN
Nigerians living abroad will now be required to pay $50 (approximately ₦80,000) to obtain a Non-Resident Bank Verification Number, following the recent…
CBN, NIBSS partner to launch BVN platforms for Nigerians abroad
The Central Bank of Nigeria in partnership with the Nigeria Inter-Bank Settlement System has unveiled the Non-Resident Bank Verification Number platform, a…