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Tag: CBN

Nigeria's FX reserves hits three-month peak
Finance

Net external reserves surge 50.5% to $34.8bn in 2025 — CBN

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has disclosed that the nation’s net external reserves rose 50.5 per cent year-on-year to $34.8 billion in 2025 from $23.11 billion in 2024. In a statement from the apex bank, Cardoso said that the growth in external reserves reflects stronger external sector fundamentals and […]

Finance

Private sector welcomes CBN’s modest interest rate cut

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark interest rate to 26.5 per cent, of which, members of the Organised Private Sector have described the move as minimal but a positive signal for businesses and the broader economy. At the end of its 304th meeting in Abuja, the MPC […]

featured

Banks raise N4.05tn ahead of March recapitalisation deadline

Banks have secured N4.05tn in verified and approved capital ahead of the March 31, 2026 recapitalisation deadline set by the Central Bank of Nigeria. CBN Governor Olayemi Cardoso disclosed this on Tuesday during the Monetary Policy Committee briefing in Abuja, stating, “As of February 19, 2026, total verified and approved capital raise stands at N4.05tn.” […]

Economy featured

BREAKING: CBN slashes interest rate to 26.5%

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark Monetary Policy Rate to 26.5 per cent. This marks the second time the MPC has cut rates under the current leadership of the apex bank. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the committee’s 304th […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking featured

CBN fines banks ₦10m for using unaccredited cheque printers

The Central Bank of Nigeria has imposed a N10 million fine and ordered the withdrawal of cheques from circulation on commercial banks that engage unaccredited cheque printers or personalisers. The apex bank announced this in its revised sanctions regime for defaulters of the Nigeria Cheque Standard and the Nigeria Cheque Printers’ Accreditation Scheme. The CBN […]

SERAP sues Wike, governors, over failure to account for N40tn LGA allocations
Opinion

SERAP drags CBN to court over missing ₦3tn funds

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Central Bank of Nigeria “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of the Anchor Borrowers’ Programme.” The lawsuit followed […]

Banking

W’African central banks advance bloc’s currency talks

Governors of central banks from 12 West African countries, including the Governor of the Central Bank of Nigeria, have convened in Monrovia, Liberia, to advance technical and institutional preparations for the planned 2027 launch of the Eco regional currency. Nigeria’s Presidency disclosed this in a statement issued on Saturday. The three-day meeting, held under the […]

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

CBN reports slight drop in Nigeria inflation expectations index

Nigeria’s inflation expectations index declined slightly to 41.4 points in January 2026 from 41.7 points in December 2025. This signals a marginal improvement in price sentiment across the economy. The latest Inflation Expectation Survey was released by the Central Bank of Nigeria. The report revealed a modest easing in outlook among respondents. The development reflects […]

Business

CBN grants BDCs FX market access with $150,000 weekly cap

The Central Bank of Nigeria has approved licensed Bureau De Change operators to participate in the Nigerian Foreign Exchange Market, allowing each BDC to purchase up to $150,000 weekly. The approval was disclosed in a circular dated February 10, 2026, signed by Dr. Musa Nakorji, Director of the Trade and Exchange Department, and addressed to […]

How FG can boost Nigeria's digital growth - Analyst
Telecommunications

CBN, NCC propose 30-minute refund for failed transactions

The Central Bank of Nigeria and the Nigerian Communications Commission have jointly proposed a strict 30-minute timeline for refunding subscribers in cases of failed airtime and data purchase transactions. This proposal forms part of the “Exposure Draft of the Joint CBN–NCC Framework for Resolution of Failed Airtime and Data Purchase Transactions” released on Monday. The […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
Business

CBN, NCC partner to curb airtime, data transaction failure

The Central Bank of Nigeria and the Nigerian Communications Commission have proposed routine joint audits of banks, telecom operators and other ecosystem players under a new national framework to curb persistent failures in airtime and data purchase transactions. The plan is outlined in an exposure draft jointly issued by both regulators on February 5, 2026, […]

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