adminCBN Spends $669m To Defend Naira In Q1 2025 — Report
The Central Bank of Nigeria (CBN) deployed approximately $669 million in foreign exchange (FX) interventions during the first quarter of 2025. A report by investment firm, AIICO Capital Limited,…
Oil Declines As CBN Sells $198 Million To Support Naira
Crude oil prices have weakened, declining by over 12% to approximately $65.50 per barrel, following sweeping trade tariffs by President Donald Trump against countries. Oil trade above $70 per…
Nigerians borrowed N470bn in personal loans in Q4 2024 – Report
The Central Bank of Nigeria (CBN) has disclosed that Nigerians took personal loans worth N470 billion from banks in the last quarter of 2024. According to the Fourth Quarter…
Electricity consumption up, production growth down in Q4 – CBN report
The Nigerian electricity sector slowed in the fourth quarter of 2024, with the electricity production index declining by 1.64% year-on-year. Data from the Central Bank of Nigeria says this…
Nigeria spent $5.47bn on foreign debt servicing, says CBN
Nigeria expended a total of $5.47bn on external debt servicing between January 2024 and February 2025, data from the Central Bank of Nigeria have shown. The figures, published on…
CBN Appoints 16 New Directors
The Central Bank of Nigeria (CBN) has appointed 16 new directors to head key departments in its operations. Their appointments into operations in several policy-driven, regulatory and supervisory capacities…
Direct CBN to suspend ATM fee hike pending court verdict, SERAP tells Tinubu
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…
CBN frustrating probe into N30trn ‘ways and means’ advance — Senate panel
The Senate Ad-hoc Committee investigating the N30 trillion Ways Means advance incurred by the administration of former President Muhammadu Buhari, on Tuesday, accused the Central Bank of Nigeria (CBN)…
SERAP to court: Stop CBN from ‘implementing ‘unlawful, unjust ATM fee hike’
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to reverse the patently unlawful, unfair, unreasonable and unjust…
CBN retains interest rate at 27.5%
The Central Bank of Nigeria, CBN, has retained the Monetary Policy Rate, MPR, its benchmark interest rate at 27.5%. Governor CBN, Mr Olayemi Cardoso, disclosed this at the end…
CBN directs banks to publish dormant accounts
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to publish the list of dormant accounts, unclaimed balances and other financial assets. The apex bank,…
CBN retains N100 ATM fee for withdrawals below N20,000
The Central Bank of Nigeria has announced that Nigerians withdrawing less than N20,000 from another bank’s Automated Teller Machine will still be charged a fee of N100 per transaction.…
CBN increases ATM transaction fees
The Central Bank of Nigeria (CBN) has announced a review on the transaction fees for automated teller machines (ATMs) In a circular signed by John Onojah, acting director of financial…