CBN

Lawmakers intensify investigation into alleged unpaid operating surplus and seek detailed records from key revenue-generating government agencies. The House of Representatives Public Accounts Committee (PAC) has directed the Office of the Accountant General of the Federation (OAGF) to provide a comprehensive breakdown of outstanding funds owed to the federal government...

The CBN warns that rejecting the standard ₦100 banknote breaks the law and could attract enforcement against offenders. The Central Bank of Nigeria (CBN) has reaffirmed that the standard ₦100 banknote remains legal tender and warned that anyone rejecting it risks enforcement under the law. In a press statement issued...

Federal High Court urges CBN, NIBSS and others to pursue settlement in N98.5 billion patent infringement lawsuit before trial. Justice Deinde Dipeolu of the Federal High Court in Lagos has urged parties in a N98.5 billion patent infringement suit involving Enterprise Logistics Speciale Limited, the Central Bank of Nigeria (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...