Central Bank of Nigeria (CBN)
Nigeria’s banking sector has entered a new phase of strength and global relevance following the successful completion of a sweeping recapitalisation exercise led by the Central Bank of Nigeria (CBN). The exercise, which mandated banks to meet new capital thresholds by 31 March 2026, is widely regarded as the...
For those who studied Economics at the Ordinary Level in the 1970s, the name O.A. Lawal likely rings a bell. His seminal work, O’ Level Economics of West Africa, outlines the four pillars of production—land, labour, capital, and enterprise—as the essential resources for creating value. Centuries earlier, in 1776,...
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”– Olayemi Cardoso, Governor, Central Bank of Nigeria. In April 2026, Nigeria finished a major project to...
The Seventh Prosecution Witness, PW7, Chinedu Eneanya, in the trial of the former governor of the Central Bank of Nigeria (CBN), Godwin Ifeanyi Emefiele on Wednesday, April 1, 2026, told Justice Maryanne Anineh of the Federal Capital Territory High Court, Maitama, Abuja, that Emefiele violated the provisions of the...
Economic and Financial Crimes Commission (EFCC) has called for enhanced collaboration and operational support with the Central Bank of Nigeria (CBN) in Enugu State. The call, made on Tuesday, March 17, 2026 by the Zonal Director, Enugu Zonal Directorate of the EFCC, Commander of the EFCC, CE Daniel Isei...
President Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria, subject to confirmation by the Senate. The appointment according to a statement by the presidential spokesman, Bayo Onanuga, is in accordance with Section 8(1) of the Central Bank...
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso has revealed that Nigeria’s gross and net foreign reserves improved significantly at the end of 2025, reflecting stronger external sector fundamentals and sustained policy reforms. The apex bank disclosed this in a post issued on Tuesday via its official X...
Data has shown that improving macroeconomic conditions and financial systems contributes to stabilising the economy, where evidence-based policy frameworks are positioned to safeguard the soundness and resilience of the financial system. The Monetary Policy Committee (MPC) is far more than a technical update; it is a decision of steady...
The second conference of the National Economic Council, convened on 9 and 10 February 2026, was not another calendar obligation dressed up as policy theatre. It was a working session of a federation intent on maturing. For the Federal Ministry of Budget and Economic Planning, constitutionally mandated as secretariat...
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of...
Nigeria has recorded a major diplomatic and economic breakthrough at the just-concluded 39th Session of the Executive Council of the African Union, securing a permanent seat on the Board of the African Central Bank in a move widely seen as a boost to the country’s leadership role in Africa’s...
Trial of the former Governor of Central Bank of Nigeria, CBN, Godwin Emefiele before Justice Maryanne Anineh of the Federal Capital Territory High Court, FCT, High Court, Maitama, Abuja, continued on Tuesday, February 10, 2026 with the refusal of the court to grant a motion of adjournment of proceedings...
Prosecution Witness Seven, PW7, Eneanye Chinedu in the trial of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele on alleged unlawful printing of new naira notes on Wednesday, January 28, 2026 told the Federal Capital Territory, FCT, High Court, Abuja, presided over by Justice Maryanne Anineh...
Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are becoming too much for citizens. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, appealed to the Central Bank of Nigeria...
Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have challenged the jurisdiction of the Federal High Court in Abuja to entertain a suit filed by Aso Savings & Loans Plc and Union Homes Savings & Loans Plc over the revocation of their operating licences. At...
Nigeria recorded an overall Balance of Payments (BOP) surplus of $4.60 billion in the third quarter of 2025, reversing the deficit recorded in the previous quarter, according to figures released by the Central Bank of Nigeria (CBN). The apex bank attributed the positive outcome to a sustained current account...
Nigerian banks will commence the deduction of a ₦50 stamp duty on electronic transfers of ₦10,000 and above from January 1, 2026, in line with the implementation of the Tax Act. The development was communicated to customers through official notices issued by several financial institutions ahead of the policy’s...
In a move aimed at boosting confidence, security and ease of payments, the Central Bank of Nigeria (CBN) has directed banks and other financial institutions to enforce multi-factor authentication on foreign-issued card transactions carried out in the country. The new directive, contained in a circular dated December 18, 2025,...
Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent regulatory breaches and deep-seated financial weaknesses at the two primary mortgage banks. The decision was announced in a press release issued on Tuesday by...