CBN

CBN keeps benchmark lending rate at 26.5% as MPC moves to contain inflation and stabilise Nigeria’s economy. The Central Bank of Nigeria has retained the country’s benchmark lending rate at 26.5 per cent as authorities intensified efforts to contain inflationary pressures and protect macroeconomic stability amid growing global economic uncertainties....

CBN MPC member warns fiscal spending, especially electoral-driven releases, could reverse Nigeria’s fragile disinflation and inflation gains. A member of the Central Bank of Nigeria’s Monetary Policy Committee (MPC), Professor Murtala Sabo Sagagi, has warned that Nigeria’s efforts to curb inflation could be undermined if fiscal spending is not properly...

CBN says new risk-based capital framework will boost bank stability, deepen governance, and restore investor confidence in financial system. Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank’s new risk-based capital framework will serve as a critical anchor for financial system stability, ensuring that recent...

CBN tells students financial literacy is essential, promoting early money management skills to navigate Nigeria’s changing economic landscape effectively. Central Bank of Nigeria (CBN) has intensified its push for early financial literacy, urging secondary school students to treat money management as a vital life skill in today’s rapidly changing economy....

Federal High Court voids CBN’s dissolution of Union Bank board, orders reinstatement of former management and halts further actions. A Federal High Court sitting in Lagos has nullified the Central Bank of Nigeria’s (CBN) decision to dissolve the board and management of Union Bank of Nigeria. Delivering judgment on Wednesday,...

Chika Mbonu says CBN reforms improved FX stability and confidence, but rising costs have left many Nigerians struggling to cope. Business analyst, Chika Mbonu, has commended the Central Bank of Nigeria’s reforms for restoring economic stability, while warning that the policies have worsened the cost-of-living crisis for ordinary Nigerians. Speaking...

Governor Olayemi Cardoso has  highlighted how monetary and structural reforms have stabilised Nigeria’s economy and attracted foreign investment. Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Wednesday, said Nigeria’s ongoing monetary and financial sector reforms were strengthening the economy’s resilience to external shocks while reinforcing investor confidence,...

Nigeria’s central bank says it is ready to intervene to stabilise the naira amid investor flight from emerging markets. Nigeria’s central bank says it has put contingency measures in place to stabilise the naira if the currency comes under pressure amid global investor flight from riskier emerging-market assets triggered by...