House of Representatives has directed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before its Committee on Public Accounts following revelations of more than ₦5 trillion in unremitted operating surplus and ₦11 trillion in revenues linked to the Remita collection system. The decision came...
Central Bank of Nigeria (CBN)
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF), reaffirming the Bank’s commitment to strengthening Nigeria’s agricultural sector. He highlighted the Scheme’s vital role in de-risking agricultural lending since 1977 and called for a more innovative,...
By PHILIP IKPONGKO, Abuja – All is now set for the grand celebration of the 30th Anniversary of Club De Pals Abuja, the foremost socio-cultural association of Tiv professionals resident and working in the federal Capital Territory (FCT) and its environs. The grand celebration, scheduled to hold on Saturday,...
In a move that marks one of its most significant cash-policy overhauls in recent years, the Central Bank of Nigeria (CBN) has officially removed the long-standing limit on cash deposits and raised the weekly withdrawal allowance for individuals to N500,000—a five-fold increase from the previous N100,000 cap. Corporate account...
Central Bank of Nigeria (CBN) has distanced itself from an organisation operating as Zuldal Microfinance Bank Limited, cautioning Nigerians that the entity is not licensed to conduct any form of banking or microfinance services in the country. In a statement issued by the Acting Director of Corporate Communications, Mrs....
Socio-Economic Rights and Accountability Project (SERAP) has urged the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso “to promptly account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, as documented in the recently published 2022 annual report by the Auditor-General...
Economic and Financial Crimes Commission, (EFCC), Chinelo Eneanya, on Thursday told a n Abuja high court, that former Central Bank of Nigeria Governor, Godwin Emefiele’s Naira notes redesign brought economic hardship to Nigerians. Eneanya, an investigator with the EFCC was the seventh prosecution witness (PW7)in Emefiele ‘s trial on...
Afreximbank’s Executive Vice-President, Dr. George Elombi, has shed light on the transformative leadership of Professor Benedict Oramah, whose decade at the helm turned the institution from a modest US$6 billion entity in 2015 into a continental giant boasting assets of over US$40 billion. Speaking at a farewell conference in...
Nigeria’s inflation rate has fallen to 18.02%, marking its lowest level in three years and continuing a six-month streak of decline, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso. Speaking in Washington on Thursday during the ongoing IMF and World Bank Annual Meetings, Cardoso...
Federal High Court sitting in Abuja has dismissed objections filed by the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) in a case brought by the Osun State Government over withheld local government allocations. The suit, initiated by the Osun Attorney-General, is aimed at preventing...
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...
By DAVID IORJA, Abuja- Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso, will lead Nigeria’s delegation to the World Bank and International Monetary Fund Annual Meeting in Washington DC, which opens on Monday, October 13. A statement issued by the presidential spokesman, Bayo Onanuga, said Cardoso, as the...
A key forensic examination in the ongoing $4.5 billion fraud trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has hit a major roadblock following disagreements between the prosecution and defence teams. The stalled analysis—focused on WhatsApp messages and data extracted from a mobile phone tendered as...
In a strategic move to support economic recovery, the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points—from 27.5% to 27%—following the conclusion of the Monetary Policy Committee (MPC) meeting held on September 22 and 23, 2025. The decision, made by the...
In a significant milestone, Wema Bank Plc has successfully completed its N150 billion Rights Issue, gaining full approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The bank announced this achievement in a statement released on Thursday in Lagos. The Rights Issue, which...
Central Bank of Nigeria (CBN) has set an ambitious target of achieving a $1 billion diaspora reserve by 2026, according to CBN Governor Dr. Olayemi Cardoso. Speaking at the 18th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday,...
If a man cooks for a community ,the meal would scarcely go round, However, if a community decides to cook for a man, the feast will overwhelm him – old African proverb. The foregoing may have aptly captured the likely outcome of the current standoff between the Department of...
President Bola Ahmed Tinubu said on Tuesday in Abuja that the revenue target for 2025 was achieved in August, following economic reforms focused on stimulating the non-oil sector. He said that the bulk of the revenue came from the non-oil sector. The President assured Nigerians that the Renewed Hope...
By SADIQ ABUBAKAR, Maiduguri – Professor Ibrahim Umara of the University of Maiduguri (UNIMAID) has called on the Federal Government and the Central Bank of Nigeria (CBN) to strengthen the naira by allowing its free flow in domestic markets and encouraging foreign investors to purchase Nigerian goods and services...
Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP) implemented in 2024 was entirely voluntary and not designed to target or marginalize employees from Northern Nigeria. CBN Deputy Governor (Economic Policy), Muhammad Abdullahi, made this clarification during a two-day Interactive Session on Government-Citizen Engagement held...