CBN cuts interest rate to 23% as inflation eases
The CBN has cut Nigeria’s Monetary Policy Rate to 23% from 26.5%, its biggest cut in the current easing cycle. Here’s what it means for borrowers and savers. The Monetary…
Flutterwave to power digital payments for Dangote Refinery IPO
Flutterwave will provide digital payment infrastructure for Nigerians at home and abroad subscribing for shares in the Dangote Refinery IPO. Flutterwave, the pan-African payments technology company, says it will provide…
FULL LIST: Dangote Refinery names 32 approved channels for IPO shares
Dangote Refinery has approved 32 banks, fintechs, mobile operators and NGX Invest for its public share offer at ₦525 per share. Dangote Petroleum Refinery and Petrochemicals FZE has approved 32…
Nigeria’s reserves beat CBN’s full-year forecast, with months to spare
Nigeria's gross external reserves have risen to $52.66bn, a 17-year high that beats the CBN's own 2026 forecast, though net reserves remain far lower. Nigeria's gross external reserves rose to…
Cardoso blames digital payments, weak purchasing power for scarce N100, N200 notes
CBN Governor Olayemi Cardoso says all naira denominations, including N100 and N200 notes, remain legal tender and must be accepted. He attributes their scarcity to increased digital payments and reaffirms…
CBN retains interest rate at 26.5%
The Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5%. CBN Governor Olayemi Cardoso announced the decision after the Monetary Policy Committee's 306th meeting in Abuja,…
FULL LIST: CBN revokes licences of 46 failing microfinance banks across Nigeria
The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks (MFBs), citing failure to meet regulatory requirements for continued operation. In a statement on Wednesday,…
Afreximbank President and Chairman of the Board of Directors Dr. George Elombi with other dignitaries at the Afrexim Bank’s Mid-year media round table
Landmark financing as Afreximbank leads $4 billion Dangote refinery deal
Afreximbank underlines $2.5 billion commitment; syndicated facility consolidates construction debt and positions refinery for next growth phase The African Export-Import Bank has underwritten $2.5 billion of a $4 billion senior…
NDIC confirms banks’ recapitalisation attracted massive ₦4.61tn boost
NDIC says banks' recapitalisation drew ₦4.61tn in fresh capital, as it reveals faster depositor payouts and ₦950bn in remittances. The Nigeria Deposit Insurance Corporation (NDIC) has revealed that the recently…
Tinubu hails Cardoso over reforms, bank recapitalisation push
President Bola Ahmed Tinubu has commended Olayemi Cardoso for leading reforms at the Central Bank of Nigeria (CBN), saying his policies are helping to restore Nigeria's economy for long-term growth.…
