From January 2026, sending ₦50,000 through your bank or fintech app could quietly cost you ₦100 in transfer fees. Not because your bank has raised its charges, but because the Nigerian government has changed the rules on who pays for electronic transfers — and how often they pay. Five years after replacing stamp duty with […]
Yields on Nigerian Treasury bills eased by three basis points to an average of 17.72 per cent in the secondary market, as investors increased exposure to naira-denominated assets ahead of the 2026 auction cycle. Market activity reflected adjustments following the Central Bank of Nigeria’s recent repricing of rates across short-, medium- and long-tenor bills at its December auctions. […]
The Public Accounts Committee, PAC of the House of Representatives has given the Central Bank of Nigeria (CBN) a firm deadline to conclude its reconciliation with the Ministry of Finance and the Fiscal Responsibility Commission (FRC) over alleged unremitted revenues to the Federal Account. Chairman of the committee, Bamidele Salam issued the ultimatum on Tuesday […]
The Central Bank of Nigeria (CBN) has announced the automatic revocation of licenses for Bureau De Change (BDC) operators who failed to meet its new regulatory guidelines by the deadline of November 30, 2025. In a document titled Frequently Asked Questions on the Current Reform of the Bureau De Change Sub-Sector, published on its website, […]
The naira closed the week weaker against the United States dollar despite fresh foreign-exchange injections by the Central Bank of Nigeria (CBN), underscoring persistent demand pressure in the official market. The currency depreciated by more than N3 week-on-week, settling at N1,450.43 per dollar on Friday compared with N1,446.74 at the end of November, as dollar […]
The Senate has opened debate on a bill seeking to amend the Banks and Other Financial Institutions Act (BOFIA) 2020 to grant the Central Bank of Nigeria (CBN) broader powers to designate and supervise non-bank financial institutions. The proposed amendment targets major fintech operators whose activities, lawmakers argue, now amount to critical national infrastructure. Tokunbo […]
The House of Representatives Ad hoc Committee probing Nigeria’s power sector reforms from 2007 to 2024 has directed the Central Bank of Nigeria (CBN), the Transmission Company of Nigeria (TCN) and SERPLAST Gas Company to submit full records of their agreements, payment structures and transactions by December 9, 2025. The directive was issued by the […]
Nigeria’s demand for physical cash intensified in October as Currency Outside Banks (COB) rose for the second consecutive month to N4.65 trillion, signalling renewed pressure on cash circulation despite sustained monetary tightening by the Central Bank of Nigeria (CBN). According to the latest Money and Credit Statistics from the apex bank, COB increased by 4.07 […]
The Nigerian National Petroleum Company (NNPC) Limited and the Central Bank of Nigeria (CBN) have entered into a partnership aimed at advancing national economic stability. In a social media post on Tuesday, Bayo Ojulari, group chief executive officer (GCEO) of NNPC, said the collaboration was forged during his meeting with Olayemi Cardoso, governor of the […]
The naira endured one of its toughest months this year as the Central Bank of Nigeria (CBN) ramped up interventions in the foreign exchange market by 348 per cent to stabilise the currency, injecting about $637 million in November amid rising capital outflows and acute dollar shortages. TrustBanc Financial Group Limited said the apex bank […]
Premium Times Academy, the capacity-building arm of Premium Times Services Limited, has concluded a two-day intensive training for journalists across the country, focusing on strengthening capacity in business, financial and economic reporting. The Lagos session, held between 26 and 27 November with support from the Central Bank of Nigeria (CBN), brought together 25 participants and […]
Nigeria’s economy is rebuilding momentum on the back of renewed investor confidence, with the country reclaiming an estimated $30 billion in lost investment potential following its exit from the Financial Action Task Force (FATF) grey list. The country also attracted $20.98 billion in foreign capital inflows within the first 10 months of 2025, a 70 […]
Manufacturers under the Manufacturers Association of Nigeria (MAN) have renewed calls for a deeper reduction in interest rates, warning that current borrowing costs are choking investment, constraining output, and weakening the sector’s contribution to economic growth. Their appeal follows the latest Monetary Policy Committee (MPC) decision in Abuja, where the Central Bank of Nigeria (CBN) […]
Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Friday, November 21, 2025, adjourned a forensic inspection of Exhibit I in the ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over an alleged $4.5 billion fraud to January 5 and 8, 2026. The inspection follows the prosecution […]
Money market funding costs eased this week despite aggressive liquidity management by the Central Bank of Nigeria, as system liquidity remained in substantial surplus even after heavy open market operation interventions. The Apex Bank intensified tightening measures as liquidity ballooned following earlier OMO bill maturities, but short-term benchmark interest rates softened rather than rose. The […]
Nigeria’s external reserves have climbed to $46.7 billion as of 14 November 2025, the highest level since 2018. The reserve build‑up gives the country more than 10 months’ worth of import cover, signalling a markedly improved external balance. CBN Governor Yemi Cardoso, represented by Deputy Governor Dr Muhammad Abdullahi, disclosed the figure at the opening of the CBN’s Monetary Policy Department […]
The Independent National Electoral Commission (INEC) has commenced the inspection of sensitive materials at the Central Bank of Nigeria (CBN) for Saturday’s governorship election in Anambra state. Speaking with journalists after receiving the materials, Queen Agu, the state’s resident electoral commissioner (REC), reaffirmed INEC’s readiness for the election. Agu said the materials will be “promptly […]
A bill seeking to establish the Fintech Regulatory Commission has passed its second reading at the House of Representatives. The bill, sponsored by Fuad Laguda, an All Progressives Congress (APC) lawmaker from Lagos, scaled the second reading during Tuesday’s plenary. Leading the debate, Laguda said the commission is needed to oversee and regulate Nigeria’s rapidly […]
President of the Senate, Godswill Akpabio, has promised the governor of Akwa Ibom State, Umo Eno of total support of the people of Akwa Ibom North West senatorial district to return him to office in 2027. Akpabio made the pledge in a brief remarks at the weekend during the reception in honour of late Deaconess […]
Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), will on Friday take the stage at Lagos Business School (LBS) to deliver the first-ever edition of the CBN Governor’s Lecture Series. The lecture, titled “Next Generation Leadership in Monetary Policy & Nation Building,” is part of a fresh platform the apex bank says will […]