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…
Nigeria’s capital inflow declined to $1.63 billion in November 2024, marking a 13.8% drop from October’s figure of $1.89 billion. This is according to the Central Bank of Nigeria’s (CBN) Economic Report for November 2024. The decrease was driven by…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) intervened in the foreign exchange market with the sales of $66 million to authorised dealer banks. Due to supply side shortfall, the naira has been under pressures for two weeks after…
The Central Bank of Nigeria (CBN) has said over the weekend that the new policy on cash withdrawal from Automated Teller Machines (ATMs) would benefit banks and their customers. The CBN said on Tuesday customers withdrawing cash from other banks…
The Central Bank of Nigeria (CBN) conducted another Open Market Operation (OMO) auction on February 13, 2025, attracting significant investor participation. Total subscriptions reached N1.915 trillion, indicating continued confidence in CBN’s liquidity management instruments. However, compared to the January 31,…
The Socio-Economic Rights and Accountability Project (SERAP) has issued a 48-hour ultimatum to the Central Bank of Nigeria (CBN), demanding the reversal of the recent increase in Automated Teller Machine (ATM) transaction fees. The advocacy group insists that the new…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has threatened to penalise banks that compel customers to withdraw amounts lower than N20,000 per transaction from Automated Teller Machines (ATMs). The apex bank gave the warning in a “Question and…
