Nigeria’s FX reserves cross $55bn to reach 18-Year high
Nigeria’s FX reserves have risen to $55.25bn, their highest level in more than 18 years, as the CBN reports stronger external balances and easing FX pressures. Olayemi Cardoso, governor of…
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…
CBN Logo and Building
CBN raises terrorism financing supervision to priority level
The move places greater responsibility on banks and payment service providers to detect and report suspicious terrorism-linked transactions. The Central Bank of Nigeria (CBN) has elevated terrorism financing supervision to…
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,…
CBN Logo and Building
CBN raises domestic borrowing by 241% with N5.8trn treasury bills
CBN plans to raise N5.8 trillion through Treasury Bills in Q3 2026, a 241% surge from N1.76 trillion in the same period last year, to fund the 2026 budget. The…
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,…
Central Bank of Nigeria
CBN seeks to separate banks from subsidiaries, curb use of customer funds for affiliates
The Central Bank of Nigeria (CBN) has unveiled draft rules aimed at creating clearer separation between banks and other financial entities under their control, such as financial technology (fintech) firms,…
Central Bank of Nigeria's Headquarter, Abuja
CBN Tightens BVN Rules: 8 things you must know before May 1 deadline
The Central Bank of Nigeria (CBN) has introduced new Bank Verification Number (BVN) guidelines set to take effect from May 1, 2026, aimed at strengthening identity security and reducing fraud…
