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Tag: CBN

Business

CBN prioritises banking stability, fintech oversight, and inflation control 2026

The Central Bank of Nigeria has identified banking system stability, enhanced fintech regulation, inflation management, and modernisation of payments infrastructure as the core pillars of its 2026 reform agenda. CBN Governor Mr. Olayemi Cardoso outlined these priorities in a statement on X (formerly Twitter), highlighting the apex bank’s strategic focus for the year. The agenda […]

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

Nigeria’s money supply grows despite CBN’s tight monetary policy

Nigeria’s broad money supply (M3) rose to N122.95 trillion in November 2025, up from N119.04 trillion in October, indicating a continued expansion of liquidity in the financial system despite the Central Bank of Nigeria’s generally tight monetary policy. Data from the CBN shows that banking system liquidity remains ample even as the apex bank maintains […]

Banking

CBN projects bullish capital market in 2026 amid bank racapitalisation

The Central Bank of Nigeria has forecast that Nigeria’s capital market will sustain a bullish trend in 2026, buoyed by the ongoing bank recapitalisation programme, improving investor confidence and favourable policy support. The projection is contained in the apex bank’s newly released report titled “Macroeconomic Outlook for Nigeria, 2026: Consolidating Macroeconomic Stability Amid Global Uncertainty.” […]

Economy

CBN sets 16.5% inflation target for 2026

Nigeria’s Central Bank is formally entrenching its transition to an inflation-targeting monetary framework, with the long-term objective of moderating inflation to 13 per cent by the year 2027. These details were outlined in the Central Bank of Nigeria’s 2026 macroeconomic outlook released on Tuesday. The bank also projects that inflation will average around 21 per […]

Business

IMTO inflows drop 11.78%, CBN data shows

Inflows from International Money Transfer Operators into Nigeria dropped by 11.78 per cent in the first half of 2025 compared with the same period in 2024, according to the Central Bank of Nigeria’s latest Quarterly Statistical Bulletin. Data analysis showed that IMTO receipts amounted to $2.07 billion between January and June 2025, down from $2.34 billion in […]

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

CBN orders banks to configure ATMs, PoS for foreign cards

In a move aimed at ensuring uninterrupted and efficient transactions for users of foreign-issued payment cards across Nigeria, the Central Bank of Nigeria has directed banks and non-bank acquirers to configure all Automated Teller Machines, Point of Sale terminals and virtual payment platforms to accept international cards supported by Nigerian acquirers. The apex bank said […]

Banking

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 Central Bank of Nigeria’s recapitalisation deadline. According to SBM Intelligence, consolidation is expected to define the banking landscape in 2026, driven largely by capital shortfalls across parts of the sector. The firm stated […]

Banking

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 per day. The move is part of new measures aimed at enhancing the seamless use of foreign-issued payment cards in Nigeria. The directive appears in a circular dated December 18, 2025, issued by […]

Banking

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 in a letter dated December 10, signed by the Director of the Financial Policy and Regulation Department. The company said the licence represents the final stage of the CBN’s rigorous application and approval […]

Business featured

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 connectivity for Point of Sale transactions. This crucial infrastructure upgrade must be completed within one month of the order. The circular, which updates an earlier policy from September 2024, was signed by Rakiya […]

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