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 […]
The Central Bank of Nigeria (CBN) sold $52 million to authorised dealers on Wednesday to stabilise the foreign exchange market, helping the naira firm slightly against the dollar amid steady inflows from oil and exports. Trading data showed the local currency appreciated by 0.08 per cent to close at N1,487.37 per dollar, after fluctuating between […]
Zenith Bank Plc has posted a profit before tax (PBT) of N625.63 billion for the half-year ended June 30, 2025, representing a strong performance in a transitioning macroeconomic environment. The Board approved an interim dividend of N1.25 per share, a 25% increase from the N1.00 paid in H1 2024, reinforcing the Bank’s reputation as a […]
The Central Bank of Nigeria (CBN) has directed all Domestic Systemically Important Banks (DSIBs) to secure regulatory approval for successor Managing Directors/Chief Executive Officers (MD/CEOs) at least six months before the expiration of the incumbent’s tenure, in a move designed to strengthen corporate governance and safeguard financial system stability. In a circular signed by the […]
The FG has heaped praises on CBN governor, Olayemi Cardoso, for his initiative which helped generated an increase in diaspora remittance to the tune of $600m monthly. Abike Dabiri-Erewa, Chairman of the Nigerians in Diaspora Commission, made this remark in a statement issued by Abdur-Rahman Balogun, NiDCOM’s spokesperson, on Monday. Abike Dabiri-Erewa attributed the high […]
The Central Bank of Nigeria (CBN) raised N1.19 trillion from two open market operations (OMO) auctions last week as it sought to rein in excess liquidity and sustain foreign exchange inflows. The short-term instruments, which offered attractive yields, drew strong interest from offshore investors and local banks, with total subscriptions hitting N1.57 trillion — more […]
Nigeria’s external reserves rose by $1.91 billion in August to close the month at $41.27 billion, their highest level since 2021, according to latest figures from the Central Bank of Nigeria (CBN). The reserves, which opened the month at $39.36 billion, benefited from successive inflows, providing the country with a stronger buffer against global commodity […]
The naira strengthened at the official window on Friday, closing at N1,531 per dollar after the Central Bank of Nigeria (CBN) injected $50 million into authorised dealer banks to stem pressure from rising dollar demand. The intervention came after the local currency slid close to N1,539 at the interbank market during the week, forcing the […]
The Central Bank of Nigeria (CBN) stepped up its intervention in the foreign exchange market last week, selling $50 million to authorised dealer banks to stabilise the naira amid rising dollar demand. The injection came as the local currency faced renewed volatility pressures, with the naira sliding to N1,535.03 per dollar at the official window […]
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 positive, moderated after balances dropped by N436.38 billion, prompting banks to raise borrowings from the […]
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 […]
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. […]
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 […]
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 […]
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 […]
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 […]
…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 […]
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 stakeholder workshop […]
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 effective implementation of […]
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 […]