cbn

The Digest: The Central Bank of Nigeria (CBN) has issued a strict new directive for all banks. According to a draft guideline reported by Daily Post, financial institutions must now automatically reverse failed ATM transactions or issue refunds within 24 to 48 hours, a decisive step to end the...

Image Credit: Ali Nkwubwa The Digest: In a sweeping move to secure financial transactions, the Central Bank of Nigeria has unveiled a stringent new framework for Point-of-Sale operators. As reported by financial analyst Abdullahi, the new rules, effective April 2026, aim to curb fraud, limit...

The Digest: The Central Bank has introduced revised agent banking guidelines. The new framework caps daily cumulative transactions per Point-of-Sale agent at N1.2 million and mandates real-time processing to enhance oversight and consumer protection. Key Points: The CBN has set a daily...

The Digest: A new report from Renaissance Capital Africa has identified the Nigerian naira as the most overvalued currency in Africa, estimating it is overpriced by 30% against the US dollar based on real effective exchange rate models. The analysis suggests that despite apparent stability and...

The Digest: The Central Bank of Nigeria has launched a national campaign against the abuse and hoarding of the naira, warning that practices such as spraying, mutilation, and writing on currency notes undermine the nation’s pride and increase maintenance costs. The initiative, tagged “Naira...

The Digest: The Central Bank of Nigeria has launched the Non-Resident Bank Verification Number (NRBVN), eliminating seven major obstacles that previously limited financial access for Nigerians abroad. The initiative, described by CBN Governor Olayemi Cardoso as a "single digital gateway,"...

The Digest: The Central Bank of Nigeria has reduced its benchmark interest rate for the first time since 2020, lowering the Monetary Policy Rate by 0.5% to 27% in a move aimed at stimulating economic growth while maintaining inflation control. This strategic shift directly impacts Nigerians by...

The Digest: The Central Bank of Nigeria has lowered its benchmark interest rate for the first time this year, reducing the Monetary Policy Rate by 50 basis points to 27.00 per cent. The decision, announced by CBN Governor Olayemi Cardoso after the 302nd MPC meeting in Abuja, signals a shift in...

The Digest: Central Bank of Nigeria Governor Olayemi Cardoso has revealed significant progress in the ongoing banking sector recapitalization, confirming that 14 financial institutions have now fully met the new regulatory capital thresholds. The announcement was made during Tuesday's Monetary...

The Digest: In a significant move to fortify Nigeria’s financial system, the Central Bank has introduced stricter succession rules for top bank executives. Domestic Systemically Important Banks must now obtain regulatory approval for new Managing Directors at least six months before the...

The Digest: Nigeria’s headline inflation rate has declined for the fifth month in a row, dropping to 21.12% in August 2025, down from 21.88% in July, according to the latest data from the National Bureau of Statistics (NBS). The continued slowdown, driven by falling food prices, offers a sign...

The Digest: Former Central Bank Governor and Emir of Kano, Muhammadu Sanusi II, has strongly defended the removal of the petrol subsidy, stating it prevented Nigeria from impending bankruptcy. Speaking at the Kano International Poetry Festival, the monarch argued that the subsidy regime was...

The Digest: With six months until the March 2026 deadline, only six of Nigeria’s 13 listed banks have successfully met the Central Bank’s stringent new capital requirements. This slow progress reveals the immense pressure on financial institutions to fortify themselves against economic...

The Digest: Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has indicated that lending rates could decrease once inflationary pressures subside and market efficiency improves. Speaking at the European Business Chamber forum in Lagos, Cardoso emphasized that current monetary tightening...

The Digest: In the race for capital, a new report by SB Morgen (SBM) Intelligence warns that Nigeria's Tier-2 banks are under mounting pressure to meet the CBN's 2026 recapitalisation deadline, or risk being part of a merger wave. The report highlights how key banks are responding to the new...

The Digest: Guaranty Trust Holding Company Plc (GTCO) has increased its investment in Guaranty Trust Bank Limited (GTBank), injecting a fresh capital of ₦365.9 billion. This strategic move, which marks a significant Capital Consolidation, is aimed at ensuring the bank's compliance with the new...

The Digest: The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that diaspora remittance inflow has surged from $200 million to $600 million monthly. Key Points: CBN Governor Olayemi Cardoso announced a surge in diaspora inflow. The monthly inflow increased...

The Digest: The Central Bank of Nigeria (CBN) has mandated that all Point of Sale (PoS) terminals be geo-tagged within the next 60 days. This directive, a new step in the fight against financial fraud, effectively creates a Digital Watchtower that will monitor and secure digital payments...

The Digest: Nigerian banks have announced that students can now pay international tuition fees directly from their naira accounts through the Central Bank of Nigeria’s (CBN) Form A platform. The service, which allows payment for educational fees abroad, has been streamlined following improved...

The Digest: The Central Bank of Nigeria (CBN) has confirmed that eight commercial banks have fully met their recapitalisation targets, signaling a strong step towards strengthening the financial sector. Governor Olayemi Cardoso shared the news after the latest Monetary Policy Committee (MPC)...