…Says CBN will adhere to conventional methods The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the determination of the Bank’s Monetary Policy Committee (MPC) to tame inflation through conventional methods. Mr. Cardoso stated […]
Nigeria’s headline month-on-month inflation rate slowed for a third time in a row in May 2024, the clearestindicator yet that the Central Bank of Nigeria’s monetary policy tightening measures enacted this year are having the intended effect. Headline inflation decelerated in May to […]
…Focuses on boosting economy The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private Sector (OPS) and the Bank’s leadership to explore strategies for enhancing Nigeria’s financial […]
…Counters claim of more licence revocation Following claims in certain quarters about the stability of some Nigerian banks in the wake of Heritage Bank Plc’s […]
Hakama Sidi Ali Acting Director, Corporate Communications
The Central Bank of Nigeria (CBN), has announced revocation of the licence of Heritage Bank Plc with immediate effect. This is according to a statement […]
Enhancement of banks’ capital base or restructuring of banks’ capital structure which is more popularly known in social parlance as bank recapitalization has become topical once again since the Central […]
The Central Bank of Nigeria has released a comprehensive list of licensed Deposit Money Banks operating within the country. The list, which was made public […]
Monetary tightening by the Central Bank of Nigeria (CBN) in a bid to curb stubborn inflation is restricting lenders (commercial banks) from extending credit to […]
The Central Bank of Nigeria has announced the 294th meeting of the Monetary Policy Committee, a crucial gathering that shapes the nation’s economic policies. The […]
President Bola Tinubu has sought the Senate’s confirmation for Ruby Onwudiwe as a replacement for Dr Kalu Eke, who declined the President’s nomination as a […]
A witness of the Economic and Financial Crimes Commission, Agboro Omowera, told a Federal Capital Territory High Court in Maitama on Monday that 10 officials […]
A deputy director in the Central Bank of Nigeria (CBN), Michael Onyeka Ogbu, has explained why the apex bank released $6,230,000 as payment to some […]
The attention of the Central Bank of Nigeria (CBN) has been drawn to a story published bya national newspaper alleging that the Federal Government is […]
The Central Bank of Nigeria has directed Deposit Money Banks to liquidate any surplus dollar stock by February 1, 2024, as part of new efforts to stabilize the country’s erratic currency rate. The CBN, which made the announcement in a fresh circular issued on Wednesday, also urged lenders not to hold extra foreign currency for profit. According to officials, the central bank believes that some commercial banks maintain long-term foreign exchange positions in order to profit from exchange rate volatility. The new circular introduces a set of guidelines aimed at reducing the risks associated with these practices. In the circular titled, […]
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