The Central Bank of Nigeria (CBN) conducted an Open Market Operations (OMO) auction on 6 March 2025, attracting total subscriptions of N1.88 trillion—more than three times the initial N600 billion on offer. Despite the strong investor demand, stop rates on…
The naira is expected to maintain stability this week and beyond as the Central Bank of Nigeria (CBN) continues to intervene in the foreign exchange (FX) market. The CBN had directed the Bureau De Change Operators (BDCs) to purchase $25,000…
The Central Bank of Nigeria (CBN) has reiterated its dedication to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions. Special Adviser to the CBN Governor on Compliance, Ms Shola Phillips,…
By Seun Ibiyemi The Nigeria Customs Service (NCS) and the Central Bank of Nigeria (CBN) have reaffirmed their commitment to improving trade facilitation and boosting revenue generation through automated foreign exchange (FX) transactions. The Comptroller-General of Customs (CGC), Mr Adewale…
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to “direct Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) to suspend the implementation of the increase in Automated Teller Machine (ATM) transaction fees, pending the…
The Senate Ad hoc Committee investigating the N30 trillion Ways and Means facility granted to the federal government has accused the Central Bank of Nigeria (CBN) of frustrating its efforts to uncover how the loans were utilised. The N30 trillion…
By Seun Ibiyemi In its 299th meeting held on February 19-20, 2025, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) unanimously decided to retain the Monetary Policy Rate (MPR) at 27.5.per cent. This decision comes in the context…
By Seun Ibiyemi The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Central Bank of Nigeria, CBN, over what it termed the “failure to reverse the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller…
The Socio-Economic Rights and Accountability Project, SERAP, has filed a lawsuit against the Central Bank of Nigeria, CBN, over what it termed the ”failure to reverse the patently unlawful, unfair, unreasonable and unjust increase in Automated Teller Machine (ATM) transaction…
The Central Bank of Nigeria (CBN) on Thursday retained its benchmark interest rate known as the Policy Rate (MPR) at 27.5 percent, following the rebased consumer price index (CPI). The National Bureau of Statistics (NBS) on Tuesday rebased the CPI…
