CBN Confirms 14 Banks Meet Recapitalisation Target as Interest Rate Cut to 27% Boosts Confidence
Nigeria’s Central Bank says 14 banks have successfully met new capital requirements introduced under the ongoing recapitalisation programme, a...
CBN
CBN Orders Moniepoint, OPay, PalmPay, Banks to Geo-Tag 4.2m PoS Terminals Within 60 Days or Face Shutdown
Nigeria’s booming Point-of-Sale (PoS) industry is set for a seismic shake-up as the Central Bank of Nigeria (CBN) has...
Yul Edochie Urges Tinubu to Reinstate Cashless Policy, Claims It Curbed Kidnapping and Boosted Naira Value
Nollywood star Yul Edochie has sparked national debate after publicly urging President Bola Ahmed Tinubu to revive Nigeria’s suspended...
Buhari Crashed Nigeria’s Economy by Printing Excess Money – Oshiomhole Blows Hot
Senator Adams Oshiomhole has openly accused former President Muhammadu Buhari of wrecking Nigeria’s economy through reckless monetary decisions, particularly...
CBN Pushes Yuan Trade Amid Naira Woes as Stakeholders Warn of Deepening China Dependence
China’s growing economic grip on Nigeria came under the spotlight again as the Central Bank of Nigeria (CBN) touted...
Trump’s Tariff Tsunami Triggers Emergency Economic Talks in Nigeria as Naira Crashes Further
President Bola Tinubu’s Economic Management Team (EMT) is preparing for a high-level review of the 2025 budget after fresh...
CBN Fines Nine Banks N1.35bn Over Cash Scarcity in ATMs During Festive Season
The Central Bank of Nigeria (CBN) has penalized nine Deposit Money Banks a total of N1.35 billion for failing...
Senate Bill to Ban Use of Dollars, Foreign Currencies in Nigeria Passes First Reading
A bill seeking to ban the use of foreign currencies, including the dollar and pound sterling, for transactions in...
Nigeria’s Inflation Rate Soars to 34.60% in November, Deepening Economic Hardship
Nigeria’s inflation rate surged to 34.60% in November 2024, up from 33.88% in October, signaling heightened economic hardship for...
CBN Plans Strategic Workforce Reduction, 1,000 Employees Set to Retire with ₦50bn Package
The Central Bank of Nigeria (CBN) is set to retire approximately 1,000 employees by December 31, 2024, as part...
BREAKING: CBN Increases Nigeria’s Interest Rate to 27.50% Amid Rising Inflation
The Central Bank of Nigeria (CBN) has raised the country’s Monetary Policy Rate (MPR) by 25 basis points, moving...
Tinubu Seeks N1.77tn External Loan to Address 2024 Budget Deficit Amid Rising Debt Servicing Costs
President Bola Tinubu has formally requested the National Assembly’s approval for a new external borrowing plan amounting to N1.767...
House of Representatives Calls on CBN to Withdraw Old Notes, Circulate New Currency Ahead of 2025 Deadline
The Nigerian House of Representatives has urged the Central Bank of Nigeria (CBN) to accelerate the withdrawal of old...
Nigerian Banks Face Widespread Disruptions Amid Simultaneous System Upgrades
The recent wave of core banking system upgrades across Nigeria’s financial sector has left many customers grappling with service...
CBN Raises Interest Rate to 27.25%, Tightens Monetary Policy Further
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has raised the country’s benchmark interest rate to 27.25%, marking...
Presidency Debunks Rumors: Tinubu Did Not Ask CBN Governor Cardoso to Resign
The Presidency has dismissed reports claiming that President Bola Tinubu asked Yemi Cardoso, the Governor of the Central Bank...