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...
Yemi Cardoso
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has revealed that 14 banks have successfully complied with the apex bank’s revised capital requirements as part of the ongoing banking sector recapitalisation. Speaking in Abuja on Tuesday during the presentation of the communiqué from the 302nd Monetary Policy...
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,...
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...
Central Bank of Nigeria (CBN) Governor, Mr. Yemi Cardoso, attributed the reduction in June’s headline inflation to stabilized energy prices and a steady foreign exchange market. Speaking in Abuja on Tuesday during the presentation of the 301st Monetary Policy Committee (MPC) communiqué, he highlighted key factors influencing the economy....
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%. CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting. Cardoso revealed that the decision to keep the lending rate unchanged was unanimous...
Central Bank of Nigeria (CBN) and Melrose General Services have agreed to settle their legal dispute out of court. The development was disclosed by the lawyers representing both parties before Justice Mohammed Umar at the Federal High Court in Abuja. Yusuf Ali, SAN, counsel to the CBN Governor, Olayemi...
Mr Tunde Omosebi has filed a 990 trillion pounds suit against the Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso, and co-defendants over allegations bordering on breach of his fundamental human rights. Omosebi, who referred to himself as “His Majesty,” a businessman and a politician in the suit...
Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has called on Nigerians to take ownership of the revitalised National Arts Theatre as a vital repository of the nation’s history and culture. Cardoso made the call during an inspection of the Lagos landmark alongside members of the Bankers’ Committee on...
By JOY ADARA, Abuja – Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, has called for stronger economic ties with the Middle East and the Nigerian diaspora community in the region. Mr. Cardoso made the call during a meeting with Talal Al-Humond, the Assistant Governor for Monetary Affairs, Saudi...
The Tinubu Media Support Group (TMSG) has described the Nigeria Foreign Exchange code (FX code) as the beginning of a new era of regulation in the country’s foreign exchange market. In a statement on Sunday by Mr Emeka Nwankpa, its Chairman, TMSG maintained that the new regulations would prevent...
The Central Bank of Nigeria has said that without its policy interventions, inflation could have risen to 42.81 per cent in December 2024. The CBN Governor, Yemi Cardoso, made this known at the 2025 Monetary Policy Forum of the apex bank on Thursday in Abuja. The forum attracted ministers,...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Tuesday unveiled a new Foreign Exchange (FX) Code to the market. At the event in Abuja, Cardoso stated that it would establish clear and enforceable standards for ethical conduct, transparency, and good governance in the foreign exchange...
The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has announced plans to establish a Compliance Department by February. Cardoso made the announcement on Thursday during the launch of 2025 Macroeconomic Outlook Report, titled: “Stabilisation in Transition: Rethinking Reform Strategies for 2025 and Beyond” by the...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said the Federal Government has taken practical steps to revamp the Nigerian economy over the past one year. Cardoso said this on Friday in Abuja, at Bankers’ Committee Retreat, with the theme: “Contract and Commitment to National...
By CHRISTIANA LOT, Jos – Months after facing backlash over abrupt staff terminations, the Central Bank of Nigeria (CBN), under the leadership of its Governor, Yemi Cardoso, is charting a new course to restore credibility. Through its voluntary Early Exit Programme (EEP), the bank has unveiled a ₦50 billion...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said the bank’s reforms align with efforts to establish a stronger and more resilient African financial architecture. Cardoso said this on Saturday in Abuja during his remarks at the 5th African Union Extraordinary Session of the Specialised...
The Central Bank of Nigeria (CBN) has assured that the Naira’s true value will be restored with the introduction of an electronic FX matching system, which has proven effective in other markets. The Governor of CBN, Olayemi Cardoso, gave the assurance on Friday night during the 59th annual bankers...
The Central Bank of Nigeria (CBN) on Friday advised bank customers to report any difficulties withdrawing cash from bank branches or ATMs to the apex bank from December 1. CBN Governor, Olayemi Cardoso, said this during the 2024 annual bankers dinner in Lagos organised by the Chattered Institute of...
The Nigerian stock market recorded a loss of N209 billion in market capitalisation on Wednesday, as investors reacted negatively to the Central Bank of Nigeria’s (CBN) recent interest rate hike. The Monetary Policy Committee (MPC) of the CBN raised the Monetary Policy Rate (MPR) by 25 basis points to...