Socio-Economic Rights and Accountability Project (SERAP) has called for an urgent investigation into findings contained in the 2022 report of the Auditor-General of the Federation, which alleged that the Central Bank of Nigeria (CBN) failed to remit over ₦1.4 trillion in operating surplus to the Consolidated Revenue Fund. In...
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN) has lifted its seven-year restriction on local investors’ participation in Open Market Operations (OMO), allowing individuals, corporates and non-bank financial institutions to invest in the market through deposit money banks. The reversal was contained in a circular titled, “Review of Discount Window Restrictions and...
Central Bank of Nigeria (CBN) has injected N5.21 trillion into the banking system between August 4 and August 11, 2026, ahead of its N700 billion Nigerian Treasury Bills (NTB) auction scheduled for Wednesday. According to financial data published by the apex bank, the liquidity injection was largely driven by...
Nigeria recorded an estimated ₦25.85 billion in losses to digital payment fraud in 2025, according to the Central Bank of Nigeria (CBN), despite improvements in the country’s electronic payment security framework. The apex bank disclosed this in its latest assessment of risks confronting Nigeria’s payment system, noting that fraud-related...
Central Bank of Nigeria (CBN) has said the next stage of fintech development in Nigeria must focus on five important outcomes to achieve sustainable growth of the initiative. Governor, Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, stated this in a goodwill message at the 3rd Business Journal Fintech...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, are set to headline the 7th Africa Emerging Markets Forum, scheduled to take place in Abuja. The two prominent economic leaders will feature in a high-level fireside...
Our federal capital could as well have been a perfect setting for a series of gangster movies from Hollywood. Perfect scripts. Excellent casting. Professional rehearsals. The dry runs are already provided by the existing government bureaucracy with its rituals and pomp. The voluminous costumes of agbadas and starched kaftans...
Central Bank of Nigeria (CBN) on Wednesday July 22 defended its monetary and foreign exchange reforms before the Senate, insisting that recent policy measures are yielding positive results despite concerns over inflation, bank lending and the apex bank’s financial operations. CBN Governor Olayemi Cardoso, accompanied by the four deputy...
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday clarified that the ₦100 and ₦200 notes remain legal tender and have not been withdrawn from circulation. Speaking after the Monetary Policy Committee (MPC) meeting in Abuja, Cardoso said the apparent scarcity of lower-denomination notes was largely...
The recent decision by the Monetary Policy Committee (MPC) to retain the Monetary Policy Rate (MPR) at 26.5% comes at a pivotal time for Nigeria’s economy. As the nation navigates the complex interplay of domestic resilience and global uncertainties, the choice to retain the MPR reflects a careful balancing...
Supreme Court on Friday, July 17, 2026 affirmed the final forfeiture of seven landed properties, the sum of $2,045,000 (Two Million, Forty-Five Thousand United States Dollars) and share certificates linked to a former Governor of the Central Bank of Nigeria, Godwin Emefiele, to the Federal Government of Nigeria. In...
The absence of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, and his counsel, Olalekan Ojo, SAN, on Thursday, July 16, 2026, stalled the continuation of his trial before Justice Maryanne Anenih of the Federal Capital Territory (FCT), High Court, Maitama, Abuja, over the alleged unlawful...
House of Representatives Public Accounts Committee has intensified its investigation into the alleged failure of the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and other government-owned enterprises to remit operating surplus due to the Federal Government. During a hearing on Tuesday, the committee directed the Office...
The Tinubu presidency is caught in a web from its own DNA. A grand Ponzi scheme born and bred in the bowels of the presidency has burst into the open. A famous con man ostensibly hired by highly placed officials has been exposed. His elaborate scheme of floating a...
Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of depositors of the 46 microfinance banks whose operating licences were recently revoked by the Central Bank of Nigeria (CBN). The exercise is aimed at facilitating the refund of deposits trapped in the failed financial institutions. In a statement issued...
Central Bank of Nigeria (CBN) has assured Nigerians that both the standard ₦100 banknote and the commemorative ₦100 note remain valid for use across the country, warning that refusing to accept either of them is against the law. The clarification followed reports that some individuals, businesses and even financial...
Providus Bank and Unity Bank have officially completed their merger and are now operating under a new name, ProvidusUnity Bank. The development marks the formal integration of the two financial institutions as part of efforts to create a stronger banking entity with a wider reach and enhanced service delivery....
A member of the Central Bank of Nigeria’s Monetary Policy Committee, Professor Murtala Sabo Sagagi, has urged the apex bank to take additional measures to reduce lending rates for households and businesses, saying the successful completion of the banking sector recapitalisation exercise should translate into more affordable credit. In...
The 15th Prosecution Witness, PW15, Jim Osayande Obazee, in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Friday, July 3, 2026 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja that the $6.2 million allegedly earmarked for...
The trial of the former governor the Central Bank of Nigeria, CBN, Godwin Emefiele, before Justice H.Muazu of the Federal Capital Territory High Court, Abuja, continued on Thursday, July 2, 2026, with the 14th Prosecution Witness, PW14, Okpoziakpo Eloho, informing the court that the $6,230,000 (Six Million, Two Hundred and...