Nigerians made transactions worth N85.91 trillion through point-of-sale terminals in the first half of 2024, a figure that is over seven times the N12.21 trillion recorded for ATM transactions within the same period. This data, sourced from the Central Bank…
The World Bank Group says the Central Bank of Nigeria (CBN) must sustain efforts to tackle inflation. Sameer Matta, senior economist for Nigeria at World Bank Group, spoke at the recent launch of the 2025 macroeconomic outlook of the Nigerian…
By Seun Ibiyemi The Central Bank of Nigeria (Central Bank of Nigeria) on Wednesday said it has approved the release of the Nigerian Foreign Exchange (FX) Code and will officially launch the same on January 28, 2025. The FX code…
By Blessing Emmanuel The ongoing reforms under the leadership of Dr. Olayemi Cardoso at the Central Bank of Nigeria (CBN) are transforming the country’s economic landscape, with positive indicators suggesting a promising outlook for 2025. Speaking during a webinar hosted…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth. The Deputy Governor, Economic Policy…
95% bank debtors borrowed from MFBs in 2024 — CBN The Central Bank of Nigeria (CBN) has revealed that 95.66 percent of bank debtors borrowed from microfinance banks (MFBs) as of September 2024, underscoring the crucial role of MFBs in…
The Central Bank of Nigeria (CBN) has introduced two digital initiatives—the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution—at an event held on Wednesday, January 15, 2025, at the Bank’s headquarters in Abuja. According…
The Central Bank of Nigeria (CBN) has reported a marginal decline in the value of the eNaira, Nigeria’s official digital currency. According to the CBN’s Monthly Economic Report for October 2024, the eNaira value dropped by 0.16 percent from N18.35…
The Central Bank of Nigeria (CBN) has launched two new financial products, the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA), aimed at attracting Nigerian citizens living abroad. In a statement released over the weekend, the…
The Central Bank of Nigeria (CBN) has reported that the country’s non-oil exports have increased by 19.23 percent to US$0.62 billion, from US$0.52 billion in September 2024. According to the CBN’s Economic Report for October 2024, this growth was largely…
