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Tag: CBN

Business

Nigeria’s banks maintain strong liquidity despite CBN N2.36tn OMO withdrawal

Nigeria’s banking system liquidity remained above N8 trillion despite the Central Bank of Nigeria withdrawing N2.36 trillion through its Open Market Operations, signaling the continued abundance of funds in the financial system. Mid-week data from the apex bank, following its OMO auction on March 23, 2026, show that the central bank’s aggressive intervention has had […]

Business

CBN to review court ruling on Union Bank, confirms stability

The Central Bank of Nigeria announced that it will review the recent court ruling concerning Union Bank of Nigeria Plc, emphasizing that the bank remains stable and continues to operate normally. The disclosure was made on Wednesday in a press statement by the Acting Director of Corporate Communications, Hakama Sidi Ali. The CBN noted that […]

Banking

Court nullifies CBN’s dissolution of Union Bank board

Justice Chukwujekwu Aneke of the Federal High Court sitting in Lagos on Wednesday nullified the January 2024 dissolution of the board and management of Union Bank of Nigeria by the Central Bank of Nigeria, declaring the action ultra vires. In his judgment, Justice Aneke set aside all decisions taken by the CBN-appointed board and ordered […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
Banking

Nigerian banks raise ₦4.61trn ahead of recapitalisation deadline

Nigerian banks have raised a combined N4.61 trillion in fresh capital ahead of the March 31, 2026, banking recapitalisation deadline. This was disclosed by Olayemi Cardoso, governor of the Central Bank of Nigeria. Cardoso spoke on Tuesday at the International Monetary Fund/Africa Regional Technical Assistance Centres (IMF/AFRITAC) West 2 high-level forum in Abuja. He said […]

Opinion

CBN gov urges stronger African cooperation on cross-border risks

The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has urged African financial regulators to strengthen cooperation in managing cross-border risks. Cardoso also restated the CBN’s commitment to entrenching robust corporate governance in Nigeria’s financial system. He spoke at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and […]

Finance

Banks race to meet CBN recapitalisation March 31 deadline

Banks are in a last-minute push to meet the Central Bank of Nigeria’s recapitalisation deadline. The apex bank is expected to make a major announcement this week as the March 31, 2026, cut-off approaches. Findings by The PUNCH indicate that most lenders have substantially met the new capital requirements. A few institutions are resolving final […]

World

Nigeria’s CBN named ‘Central Bank of the Year’ globally

The Central Bank of Nigeria has been named Central Bank of the Year by Central Banking magazine. This recognition is in honour of sweeping reforms that restored macroeconomic stability and investor confidence in Nigeria. The award underscores what the magazine described as a “return to policy orthodoxy” under the leadership of CBN Governor, Olayemi Cardoso. […]

Banking

Excess cash floods banking system as liquidity hits N8.06tn

Nigeria’s banking system liquidity rose sharply to N8.06 trillion as commercial banks parked more funds at the Central Bank of Nigeria’s Standing Deposit Facility, signaling a buildup of excess cash in the financial system. Data from the Central Bank of Nigeria showed the figure at the end of a three-day trading period that closed on […]

featured

CBN to raise N1.05tn in treasury bills auction

The Central Bank of Nigeria plans to raise N1.05 trillion through a Treasury Bills auction today, March 18, pushing the federal government’s short-term borrowing to nearly N3 trillion over the past two weeks. An official invitation to tender, issued by the CBN on behalf of the Debt Management Office confirmed the auction. The notice states […]

featured

CBN orders banks to expand ATM network nationwide

The Central Bank of Nigeria has instructed banks and other card issuers to significantly expand the deployment of Automated Teller Machines nationwide, setting a target of at least one ATM for every 7,500 payment cards issued by 2028. Under the new Guidelines on the Operations of ATMs in Nigeria, the apex bank stated that “all […]

Business

CBN signals possible capital raise for banks after stress tests

The Central Bank of Nigeria has indicated that Nigerian banks may need to raise additional capital depending on the outcome of a new stress testing exercise aimed at evaluating the strength of their credit portfolios against potential economic shocks. The apex bank disclosed this in a directive instructing all banks to commence the stress test […]

Banking featured

CBN tightens BVN rules, restricts phone number changes to one

The Central Bank of Nigeria has mandated all banks and other financial institutions to establish and maintain a temporary watchlist for Bank Verification Numbers implicated in suspected fraudulent transactions. This directive takes effect from May 1, 2026. The apex bank issued the instruction in a circular addressed to all banks, other financial institutions, and payment […]

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