CBN Sets New Priorities to Strengthen Nigeria’s Fintech Ecosystem
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has outlined new policy priorities focused on regulatory coordination, stronger supervisory capacity and responsible, scalable innovation to sustain growth and protect the integrity of the country’s fintech ecosystem. In a new assessment report released on Monday, the apex bank said Nigeria’s fintech landscape has grown rapidly, […]
Nigeria’s PMI Rises to 57.6 Points, Hits Five-Year High — CBN
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the country’s business activity expanded to its strongest level in about five years in December, with the Composite Purchasing Managers’ Index (PMI) rising to 57.6 points. In a statement issued on Tuesday night by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank […]
Nigeria Posts $4.6bn Balance of Payments Surplus in Q3 2025 – CBN
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, a turnaround from the deficit recorded in the previous quarter. According to the CBN in a satement on Tuesday night, the improvement was driven by a current […]
CBN Slashes Cash Withdrawal Limits in Push Toward Digital Economy
By Oluwakemi Kindenss The Central Bank of Nigeria (CBN) has announced major changes to cash withdrawals, reducing weekly limits for individuals to N500,000 and for companies to N5 million starting January 1, 2026. In a circular issued on Tuesday December 2nd, 2025 and signed by the director of financial policy and regulation Dr Rita Sike […]
CBN: Nigeria’s Reserves Rise to $46.7bn, Strongest Since 2018
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) on Tuesday announced that Nigeria’s foreign exchange reserves have risen to the highest level in seven years, reaching $46.7bn as of November 14, 2025, CBN Governor Olayemi Cardoso, represented by the Deputy Governor for Economic Policy, Muhammad Abdullahi, disclosed the figures at an event marking the […]
CBN Denies Disbursing $1.259bn for Petroleum Imports
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has dismissed reports suggesting it disbursed US$1.259 billion to major oil sector operators for the importation of refined petroleum products and related items, describing the claims as inaccurate and misleading. In a statement on Tuesday night, the Bank clarified that the figure referenced, as published in […]
CBN Welcomes Nigeria’s Removal from FATF Grey List
By Oluwakemi KindnessCBN Governor Olayemi Cardoso. The Central Bank of Nigeria (CBN) has commended the Financial Action Task Force (FATF) for its decision to remove Nigeria from the list of jurisdictions under increased monitoring, commonly known as the grey list. The FATF’s announcement follows a successful on-site evaluation of Nigeria’s reform measures and acknowledges the […]
Governors’ Endorse CBN’s Economic Reforms
By Oluwakemi Kindness Nigeria’s Governors have expressed strong support for the Central Bank of Nigeria’s economic stabilisation efforts aimed at restoring price stability, curbing inflation, and rebuilding public confidence in the economy. The support was agreed at the fifth meeting of the Nigeria Governors’ Forum (NGF) held on Thursday where the apex bank’s Governor, represented […]
Tinubu to Inaugurate Renovated National Theatre on Independence Day
By Oluwakemi Kindness President Bola Tinubu will on Wednesday, October 1, inaugurate the newly renovated National Arts Theatre, Iganmu, Lagos, as part of events marking Nigeria’s 65th Independence Anniversary. The project, executed by the Central Bank of Nigeria (CBN) and the Bankers’ Committee, is described as a major investment in Nigeria’s cultural heritage and creative […]
CBN Cuts Interest Rate to 27% to Boost Economy
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has reduced the benchmark interest rate, the Monetary Policy Rate (MPR), by 50 basis points to 27 per cent to support growth and ease borrowing costs. The decision was announced on Tuesday by the Governor of the CBN, Olayemi Cardoso, at the end of it 302nd […]