CBN Targets Long-Term Investment Through Stronger Asia Links
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) is seeking stronger financial ties with Asian markets to attract sustained investment and deepen Nigeria’s access to international capital. CBN Governor Olayemi Cardoso stated this at the Nigeria–Asia Financial Connectivity Dialogue in Singapore, where he said the country’s financial reforms were laying the foundation for deeper […]
CBN Cuts Interest Rate to 23% From 26.5%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has lowered its benchmark interest rate to 23 per cent, signalling a fresh adjustment to its monetary policy framework. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday after the Monetary Policy Committee (MPC) concluded its 307th meeting in Abuja. The reduction brings the Monetary Policy […]
CBN: Naira-Official FX Rate Gap Falls Below 2%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change rates has narrowed to below two per cent. The apex bank said the development reflects improving stability in the foreign exchange market. The Acting Director of Corporate Communications and Investor Relations Department of the […]
Nigeria’s Reserves Hit 17-Year High at $52.5bn – CBN
By Oluwakemi Kindness Nigeria’s foreign exchange reserves have climbed above $52.5 billion, reaching a 17-year high, the Central Bank of Nigeria (CBN) has said. The apex bank said the reserves, as of July 17, 2026, had also exceeded its annual target. The CBN attributed the increase to sustained foreign exchange inflows and renewed investor confidence […]
CBN Retain Rates As Cardoso Says Economy Remains Resilient
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the country’s economy remains resilient despite mounting global uncertainties. Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, who srated this on Tuesday after the Monetary Policy Committee (MPC) meeting in Abuja, attributed the performance to reforms implemented by both the fiscal and monetary […]
CBN Revokes Licences of 46 Microfinance Banks
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks for failing to meet regulatory requirements, in a move aimed at strengthening the stability of Nigeria’s financial system. According to a statement on Wednesday by Hakama Sidi-Ali, Acting Director, CBN’s Corporate Communications Department, the revocation takes effect […]
CBN Pledges Reform Continuity as Cardoso Gets Global Award
By Oluwakemi Kindness Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the apex bank’s commitment to sustaining monetary and financial sector reforms aimed at restoring economic confidence, strengthening institutional credibility, and driving long-term growth. Cardoso made the pledge while receiving the prestigious Central Bank of the Year Award at the Central […]
CBN Rejects Interventionist Policies, Backs Orthodox Strategy
By Oluwkaemi Kindness The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the bank will not return to interventionist measures that previously weakened policy credibility. This is as he reaffirmed the apex bank’s commitment to orthodox monetary policy, transparency, and evidence-based decision-making. Cardoso stated this during the opening session of the Monetary Policy […]
Cardoso Says Nigeria’s Economic Reforms On Track After IMF
By Oluwakemi Kindness Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the country’s economy remains firmly on track following the 2026 Spring Meetings of the IMF and World Bank Spring Meetings in Washington. Cardoso, in a message on the bank’s official X handle on Monday, says the CBN is focused on building on […]
CBN Concludes Bank Recapitalisation, Sector Raises ₦4.65tn
By Oluwakemi Kindness The Central Bank of Nigeria CBN has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion in new capital. The exercise, which began in March 2024, is aimed at strengthening the financial system and boosting banks’ capacity to support economic growth. Strong […]