The Centre for the Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria (CBN) to ease its tight monetary policies to improve credit access for small and medium businesses. In a statement on Sunday reviewing Governor Yemi Cardoso’s two years in office, CPPE’s CEO, Dr. Muda Yusuf, said that while reforms under…
The Central Bank of Nigeria (CBN) has initiated the development of a new strategic roadmap for the nation’s payments landscape with the official launch of the Nigeria Payments System Vision 2028 (PSV 2028). This new framework aims to establish a more inclusive, innovative, and globally competitive digital financial system. At the inaugural meeting of the…
The Central Bank of Nigeria (CBN) has mandated that all Point of Sale (PoS) terminals across the country be geo-tagged within 60 days, as part of efforts to combat fraud and enhance regulatory oversight of digital payment systems. According to a statement dated August 26, 2025, obtained by our correspondent, the CBN stated: “This initiative…
During former President Muhammadu Buhari’s eight-year administration, Nigerians spent an estimated29.29 billion on foreign medical treatments — an average of 3.6 billion annually, according to analysis of Central Bank of Nigeria (CBN) data. The CBN’s quarterly statistical bulletins, under the “Health-Related and Social Services” category, showed consistent outflows of foreign exchange from June 2015 to…
The naira closed last week weaker against the US dollar at the official Nigerian Foreign Exchange Market, falling by 0.14. This came despite an initial rebound to a four-month high of ₦1,518.88/on the week’s first trading day. The currency later fluctuated, trading as low as ₦1,530.25/ and ₦1,533.11/before slightly recovering. The highest exchange recorded during…
Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted ₦2 billion bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his arraignment on an eight-count charge. The charges include unlawful acquisition of a 753-unit housing estate, alleged theft, and control of billions of naira through proxy accounts. In…
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, and the Minister of Finance, Wale Edun, have been summoned to appear before the Joint Committee on Public Accounts and Public Assets of the House of Representatives on Monday. This was disclosed in a joint statement released in Abuja on Saturday by the Chairman…
The Central Bank of Nigeria (CBN) has debunked a new report in circulation suggesting that the bank has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators to December 31, 2025. The Central Bank of Nigeria (CBN), through its Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, has dismissed recent reports…
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN), seeking a court order to compel the bank to disclose details of direct payments made to the 774 local government councils in Nigeria, including the specific amounts sent to each. This legal action follows a landmark Supreme…
The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform to serve Nigerians in the diaspora. Launched on Tuesday, this innovative digital gateway is expected to help the CBN achieve its target of $1 billion in monthly diaspora remittances, totaling approximately…
