The Central Bank of Nigeria (CBN) has made an upward price review on spot rates on Treasury bills by 100 basis points at the just concluded primary market auction. The CBN offered N211.71 billion across the standard maturities, which included…
In spite of expectations by stakeholders, the Central Bank of Nigeria (CBN) have shelved its bi-monthly Monetary Policy Committee (MPC) meeting for the second time. The meeting, expected to hold on Nov.20 and Nov. 21, would have been the first…
By Seun Ibiyemi The Central Bank of Nigeria has again postponed the meeting of its monetary policy committee despite the surge in inflation. This is according to a report by Bloomberg on Monday, which quoted the CBN’s Director of Corporate…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has decided to indefinitely extend the validity of the old N200, N500, and N1,000 banknotes. The CBN had previously introduced redesigned N200, N500, and N1,000 denominations in October 2022, with specific…
The stringent approach by the new Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso to cleanse the Apex bank from clashes of interest and eliminate corruption in the banking system is a good omen that should be…
In the face of a challenging economic situation, Nigeria has witnessed a surge in its citizens’ indebtedness, with individuals borrowing approximately N290bn from banks in just three months. This revelation comes from the recently released Economic Report for the Second…
By Matthew Denis The Nigeria Deposit Insurance Corporation (NDIC), on Monday, in response to a misleading news report circulating on various social media platforms under the headline “CBN Liquidates 20 Banks – NDIC”, said no new banks were liquidated. The…
By Sodiq Adelakun The Central Bank of Nigeria (CBN) has taken a significant step towards transparency by ordering its staff members to disclose any Politically Exposed Persons (PEPs) and their relatives who have been employed by the bank in the…
In June, there was a more than 20 percent increase in the total balance of domiciliary accounts in Nigeria’s commercial and merchant banks, an analysis of data from the Central Bank of Nigeria (CBN) shows. The foreign currency deposits, a…
In a move to strengthen checks and balances within the institutional framework of the Central Bank of Nigeria, a Bill to create the position of Chairman of the Board of the Central Bank of Nigeria has scaled second reading in…
