SAMUEL MOBOLAJI The naira strengthened week-on-week in the official foreign exchange market, closing at N1,348 per US dollar on Friday, up N10 from last week’s N1,358 per dollar. Data from the Central Bank of Nigeria showed that the local currency maintained a largely positive trajectory throughout the week. The naira opened at N1,344 per dollar […]
The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has stated that Africa must grow, industrialise, create jobs, expand opportunities, and lift millions out of poverty, while also decarbonising and building climate resilience. Mr Cardoso recently stated in his keynote speech at the Egypt 30by30 Programme organised by the Central Bank of Egypt […]
Governor of the Central Bank of Nigeria, Yemi Cardoso, has said cross-border payments are fast becoming the backbone of the international monetary and financial system. Cardoso stated this in Abuja on Thursday during his plenary address at the G-24 Technical Group Meetings themed “Mobilising Finance for Sustainable, Inclusive, and Job-rich Transformation.” Delivering a speech titled […]
The Central Bank of Nigeria (CBN) has approved the re-entry of licensed Bureau De Change (BDC) operators into the Nigerian Foreign Exchange Market (NFEM), permitting each to buy up to $150,000 weekly. The approval, contained in a circular dated February 10, 2026, and signed by Dr Musa Nakorji, Director of the Trade and Exchange Department, […]
The Central Bank of Nigeria has stepped up efforts to stabilise the naira, purchasing $72 million from the currency market last week in a move aimed at curbing speculative activity and reinforcing confidence in the official exchange window. The intervention comes amid a sharp appreciation of the naira across both official and parallel markets. At […]
The Central Bank of Nigeria (CBN) has underscored the importance of automated machines (ATMs) and point-of-sale (PoS) terminals in ensuring efficient cash distribution and easing operational challenges across the country. According to NAN, Olayemi Cardoso, governor of the CBN, spoke on Friday at the 2026 Committee of Heads of Bank Operations (CHBO) conference in […]
By MICHEAL AJAYI Guaranty Trust Holding Company Plc (GTCO) has secured approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to raise N10 billion through a private placement, signalling continued balance sheet strengthening and strategic capital flexibility for investors. The holding company said the private placement, which remains subject […]
The Central Bank of Nigeria predicts external reserves will climb to $51.04bn in 2026, up from $45bn in 2025. This projection was contained in the Macroeconomic Outlook for Nigeria, 2026, titled ‘Consolidating Macroeconomic Stability Amid Global Uncertainty’, published by the CBN on Tuesday. It was reported that Nigeria’s external reserves as of Monday, 29 December […]
The Central Bank of Nigeria predicts external reserves will climb to $51.04bn in 2026, up from $45bn in 2025. This projection was contained in the Macroeconomic Outlook for Nigeria, 2026, titled ‘Consolidating Macroeconomic Stability Amid Global Uncertainty’, published by the CBN on Tuesday. It was reported that Nigeria’s external reserves as of Monday, 29 December […]
The Central Bank of Nigeria (CBN) has granted licences to 82 bureau de change (BDC) operators to conduct business under its revised regulatory framework, effective November 27, 2025. The apex bank had issued updated guidelines for BDC operations on May 22, 2024, following consultations with stakeholders, and required existing operators to reapply for new licences. […]
The Central Bank of Nigeria (CBN) has refuted reports claiming it disbursed $1.25 billion to major oil sector operators for the importation of refined petroleum products and related items. The clarification followed media reports on Monday alleging that the apex bank released the funds during the first quarter (Q1) of 2025. In a statement issued […]
…as Senate C’mmtte sets to confirm appointees By Tunde Opalana Nominees for membership of the Monetary Policy Committee ( MPC ) , of the Central Bank of Nigeria ( CBN) have promised to bring to bear their wealth of experiences in solving teething fluctuation in exchange rate and food crisis bedeviling the nation if their […]
CBN Sticks to Presidential Directive to Reissue only 200 Naira Old Banknotes. The attention of the Central Bank of Nigeria has been drawn to a FAKE PRESS RELEASE. Purported to have emanated from the Bank to the effect that President Muhammadu Buhari has approved the reissuance and release of old N500 and N1000 notes as […]
The Central Bank of Nigeria (CBN), has assured that it has put in place effective mechanisms to insulate the e-Naira from hackers and fraudsters. The Director, Corporate Department, CBN, Mr Osita Nwanisobi, disclosed this on Wednesday at a Central Bank Fair in Kano. The theme of the fair is “Promoting Financial Stability and Economic Development”. […]
Governor of the Central Bank of Nigeria (CBN), Mr. Godwing Emefiele, on Wednesday, assured that the nation’s foreign reserves will surpass the $42 billion threshold by the middle of next year. Emefiele disclosed this at the France-Nigeria Security and Economic Summit, in Paris, France. He said: “Nigeria’s external reserves are expected to surpass US$42 billion […]
The Central Bank of Nigeria (CBN) has announced N5 billion as the maximum loan amount for private companies in its newly introduced initiative, called ‘The 100 for 100 PPP – Policy on Production and Productivity. The CBN disclosed this in its guidelines for the implementation of the initiative published on its website. Part of the […]
The Sen. Andy Uba Governorship Campaign Organisation, has tasked former Governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo, to ascertain total debt currently owed by Anambra Government. Mr Afam Ogene, Director, Media and Publicity, of the campaign organisation made the demand in a statement made available to journalists on Friday in Awka. […]
*Nigeria’s infrastructure must improve by 5% annually to boost productivity-Emefiele Motolani Oseni As part of efforts to improve the power and gas infrastructure in the country, while reducing the nation’s estimated $100 billion annual infrastructure deficit, the Central Bank of Nigeria (CBN) has said it has given out not less than a total sum of […]
*Selects technical partner for digital currency project TEMITOPE ADEBAYO The Central Bank of Nigeria (CBN) has issued drafted guidelines for the eNaira to Nigerian banks, highlighting the daily transaction limit of N50, 000, N200, 000 and N1 million for the consumer wallet tiers 1, 2 and 3 respectively, and N1 million transaction limit for the […]
The Central Bank of Nigeria (CBN) has instructed Deposit Money Banks (DMBs) operating in the country to place a post-no-debit on the bank accounts of 18 companies. With this development, the affected firms would not be able to make any withdrawal transactions, including ATMs and cheques, on the accounts, but can receive inflows. The apex […]