Business

Short-term rates mixed as banks’ borrowing from CBN jumps to N186.3bn

Guest Writer 13 August 2025 0

Short-term benchmark interest rates moved in different directions on Monday as deposit money banks sharply increased borrowing from the Central Bank of Nigeria’s (CBN) standing lending facility to cover liquidity shortfalls. AIICO Capital Limited reported that system liquidity, though still

Opinion

The strategic path to Nigeria’s economic stability

Guest Writer 24 July 2025 0

BY ISAH ALIYU CHIROMA Nigeria’s economy is gradually gaining stability, with the leadership of the Central Bank of Nigeria (CBN) at the helm of well-coordinated decisions that are yielding positive results for the economy. It is apparent that the leadership of CBN is providing strategic positioning of the economy at a trajectory level, where the […]

Business

CBN retains interest rate at 27.5%

Vincent Afolabi 22 July 2025 0

The Central Bank of Nigeria (CBN) has left the benchmark interest rate unchanged at 27.5 percent — the third consecutive hold since March 2025. Olayemi Cardoso, governor of the apex bank, announced the decision on Tuesday during a press briefing at the end of the 301st meeting of the monetary policy committee (MPC) in Abuja. […]

Business

Financial fraud jumps 45%, digital platforms account for 70% of losses-CBN

DailyTimesNGR DailyTimesNGR 11 July 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has reported a 45 per cent increase in financial fraud cases in the country within a year, with 70 per cent of the resulting losses linked to digital platforms, particularly unregulated virtual asset schemes. CBN Governor, Mr Olayemi Cardoso, disclosed this in a speech delivered on […]

Business

Shareholders reject CBN control of unclaimed dividends, demand reform

DailyTimesNGR DailyTimesNGR 30 June 2025 0

BY TEMITOPE ADEBAYO The Independent Shareholders Association of Nigeria (ISAN) has firmly rejected the new legislation mandating the transfer of unclaimed dividends from company registrars to accounts managed by the Central Bank of Nigeria (CBN). In a statement signed by its National Coordinator, Moses Igbrude, the group condemned the law as a gross violation of […]

Business

CBN to offer N162bn worth of Treasury Bills in upcoming auction

DailyTimesNGR DailyTimesNGR 15 June 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) is set to hold a primary market auction next Wednesday, offering N162.018 billion worth of Treasury bills for investors’ subscription across standard tenors. This move aims to absorb N27 billion worth of maturing Nigerian Treasury bills. Analysts expect the discount rate to ease due to strong […]

Money

CBN insists on June 2025 deadline for BDC recapitalisation

DailyTimesNGR DailyTimesNGR 12 June 2025 0

BY MOTOLANI OSENI The Central Bank of Nigeria (CBN) has reaffirmed that there will be no extension to the recapitalisation deadline for Bureau De Change (BDC) operators, firmly dismissing media reports suggesting a shift to December 31, 2025. In a statement issued on Wednesday, Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, described the […]

Top Stories

Court Dismisses £990trn Suit Against CBN, Others

DailyTimesNGR DailyTimesNGR 5 June 2025 0

…Bars Claimant From Further Instituting Cases By Andrew Orolua The Federal High Court in Abuja, on Wednesday, dismissed a 990 trillion pounds suit filed by a claimant, Mr Tunde Omosebi, against the Central Bank of Nigeria (CBN) for being incomprehensible. Justice James Omotosho, in a judgment, also held that the suit filed by Omosebi to […]

Money

CBN, Presidency Unveil Harmonized Framework to Boost Consumer Trust and Financial Inclusion

Ihesiulo Grace 2 June 2025 0

In a renewed effort to rebuild public confidence in the financial sector and accelerate financial inclusion, the Central Bank of Nigeria (CBN), in collaboration with the Office of the Vice President, has unveiled plans for a **National Consumer Trust Framework**, aimed at harmonizing consumer protection policies across regulatory bodies. Speaking at a high-level

News

CBN’s Strategic Shift: A Review Of The 2024 Financial Performance

DailyTimesNGR DailyTimesNGR 4 May 2025 0

By Isah Aliyu Chiroma The Central Bank of Nigeria’s (CBN) financial statements for the year 2024 have generated significant interest, not only among financial analysts and economists but also among regular citizens keen on understanding the country’s economic trajectory. These statements are marked by a striking commitment to economic stability, showcasing the

Business

CBN declares rise in banks reserves, drop in currency circulation

DailyTimesNGR DailyTimesNGR 23 April 2025 0

By Tunde Opalana The Central Bank of Nigeria CBN has declared about N900 billion rise in banks reserves at the end of March , 2025. In a most recent report, the apex bank declared N28.5 trillion at the end of March, as reserves kept in its custody by banks. Banks reserves has been on the […]

Business

FG revenue slumps to N1.94trn, says CBN

DailyTimesNGR DailyTimesNGR 22 April 2025 0

BY TEMITOPE ADEBAYO Nigeria’s Federal Government revenue plunged to N1.94 trillion at the end of January 2025, marking a steep 31 per cent decline from December figures, according to the Central Bank of Nigeria CBN. The drop, driven by weak oil and non-oil earnings, has widened the country’s fiscal deficit and fallen significantly short of […]

News

CBN Bets On eNaira Revival Despite Waning Public Interest

DailyTimesNGR DailyTimesNGR 21 April 2025 0

BY BUKOLA ARO-LAMBO Over three years after it was first launched, the Central Bank of Nigeria(CBN) is planning a comeback for its Central Bank Digital Currency (CBDC), the e-naira, a project that has since lost steam for many Nigerians as 98 per cent of the eNaira wallets already inactive. Nigeria had been among the few […]

Business

CBN Governor to Lead ICSAN fundraiser for n3.8bn secretariat

DailyTimesNGR DailyTimesNGR 12 April 2025 0

BY TEMITOPE ADEBAYO The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) said, the governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, will chair its secretariat fundraising event. According to the president of the institute, Mrs Funmi Ekundayo, the event is scheduled to take place on April 14 in Abuja, the initiative […]

Business

CBN injects $197.71m into FX market as global shocks hit naira

DailyTimesNGR DailyTimesNGR 6 April 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has stepped in with a $197.71 million intervention to stabilise the foreign exchange market amid global shocks that have unsettled emerging and developing economies, including Nigeria. In a statement signed by the Director of Financial Markets Department, Dr Omolara Omotunde Duke, the apex bank disclosed that […]

Business

CBN debunks fake reports on introduction of ₦5,000, ₦10,000 banknotes

DailyTimesNGR DailyTimesNGR 3 April 2025 0

BY TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has dismissed as false the viral reports claiming it has introduced new ₦5,000 and ₦10,000 banknotes, warning the public against spreading misinformation. The fake report, which surfaced online, alleged that the CBN had launched the high denomination notes to enhance cash transactions and reduce handling costs, […]

Business

CBN’s recruitment of 16 directors: A break from the norm

DailyTimesNGR DailyTimesNGR 10 March 2025 0

The central bank CBN, of any country is a uniquely influential institution. Due to its mandate of maintaining monetary and financial stability in line with the economic vision of the government, everything it does can impact everyone. That is why PhD. economists and experienced bankers are the top picks for heading the banks. This is […]

News

Ways and Means: Senate blames CBN for frustrating efforts

DailyTimesNGR DailyTimesNGR 26 February 2025 0

By Patrick Wemambu The Senate Ad-hoc Committee investigating Ways and Means facility granted to the federal government between 2015 to 2023 has taken a swipe at the Central Bank of Nigeria for frustrating its efforts to uncover how the loans were spent. Speaking after receiving an interim report from its consultants at meeting on Tuesday, […]

Economy

27.5% Monetary policy rate adjustable – CBN

DailyTimesNGR DailyTimesNGR 21 February 2025 0

By Tunde Opalana The Central Bank of Nigeria’s (CBN) has raised the hope that the 27.5% Monetary Policy Rate (MPR) recently declared is adjustable. Though the CBN Monetary Policy Committee (MPC) insisted it will hold all key rates steady as it monitors inflation and exchange rate dynamics. The MPC has signaled that it will “remain […]

Business

CBN insists banks, others must publish details of dormant account

Ihesiulo Grace 20 February 2025 0

BY BABATUNDE OPALANA The Central Bank of Nigeria (CBN) insisted that banks and other financial institutions in the country must publish the names of individuals whose bank accounts have gone dormant on their websites and national newspapers in line with the Guidelines on Management of Dormant Accounts, Unclaimed Balances and Other Financial Assets in Banks […]