Nigeria’s major banking groups, United Bank for Africa, Access Holdings and First HoldCo, are facing mounting pressure from the Central Bank of Nigeria’s dividend restrictions, which have limited shareholder returns and heightened uncertainty over future payouts. The restrictions, aimed at strengthening banks’ capital positions and ensuring adequate recognition of...
Central Bank of Nigeria (CBN)
The Central Bank of Nigeria (CBN) has warned Nigerians that fraudulently accessing another person’s bank account and failing to return money wrongly transferred into their accounts could attract severe penalties, including imprisonment. The CBN Governor, Olayemi Cardoso, gave the warning on Thursday October 22 at the ‘CBN Listens’ annual...
The dramatic tradition of present day Nigerian politicians is to be located in the murky zone of tragi -comedy, farce and cruel irony. Because we are dealing with the erosion of a whole national ethos, even those tempted to laugh at our political comedy end up weeping for Nigeria...
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over its “failure to account for US$6.23 million in allegedly diverted or unaccounted-for election funds and over ₦1.63 trillion in other public funds.” The lawsuit followed grim allegations documented in Volume...
Central Bank of Nigeria (CBN) has withdrawn about N3.31 trillion from the banking system through October 6, 2026 Open Market Operations (OMO) auction,moving to absorb excess liquidity after N2.17 trillion in maturing securities flowed back into the financial system. The latest intervention came amid elevated liquidity in the banking...
The Socio-Economic Rights and Accountability Project (SERAP) has given the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, and the CBN seven days “to account for US$6.23 million in allegedly diverted or unaccounted-for election funds and over ₦1.63 trillion in other public funds, or face appropriate...
The Central Bank of Nigeria (CBN) has reduced its Monetary Policy Rate (MPR) from 26.5 per cent to 23 per cent, signalling a shift towards a less restrictive monetary policy stance as inflationary pressures moderate. CBN Governor, Olayemi Cardoso, announced the decision on Tuesday after the 306th meeting of...
Cash held outside Nigeria’s banking system rose to ₦4.87 trillion in August 2026, reversing a three-month decline, according to data from the Central Bank of Nigeria (CBN). The figure increased by ₦70.9 billion, or 1.48 per cent, from ₦4.80 trillion recorded in July. Currency outside banks had declined from...
Since assuming office as Governor of the Central Bank of Nigeria (CBN) on September 22nd, 2023, Olayemi Cardoso has spearheaded landmark reforms that have fundamentally repositioned the Nigerian economy. Under Cardoso’s stewardship, the CBN has become a beacon of transparency, innovation, and resilience. His leadership has drawn public commendation...
Central Bank of Nigeria (CBN) has warned banks, fintech companies and other financial institutions about growing cybersecurity and third-party technology risks arising from the increasing interconnectivity of the financial system. The Director, Payments System Supervision Department of the CBN and Chairperson of the Nigeria Electronic Fraud Forum, Dr Rakiya...
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) 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...