cbn

The Digest: CBN Governor Olayemi Cardoso has confirmed that 16 banks have fully complied with new capital rules, a significant step in fortifying the financial foundations meant to weather economic storms and support national ambition, revealing the steady build of institutional resilience...

The Digest: The Central Bank of Nigeria has maintained its benchmark interest rate at 27 percent, as announced by Governor Olayemi Cardoso following the 303rd Monetary Policy Committee meeting in Abuja. The decision reflects the bank's continued focus on tackling persistent inflation and...

The Digest: The Central Bank of Nigeria has introduced a stringent new policy to curb the issuance of dud cheques, proposing an automatic five-year banking ban for repeat offenders. The draft guidelines, now open for public comment, aim to restore discipline and confidence in the use of...

The Digest: A damning 2022 audit report has revealed that the Central Bank of Nigeria failed to remit N1.44 trillion of federal government funds, prompting SERAP to issue a seven-day ultimatum for explanations. According to the Auditor-General's findings, the CBN under Governor Yemi Cardoso's...

The Digest: Standard Chartered Bank Nigeria is restructuring its services to focus on wealthier clients. The bank will close its Personal Banking segment and introduce an Emerging Affluent category, requiring a minimum balance of N7.5 million. Key Points: Standard Chartered confirms the...

The Digest: A new economic report by Quartus Economics is urging the Central Bank of Nigeria (CBN) to introduce N10,000 and N20,000 notes to restore the Naira's "portability" after a 94% decline in its value over two decades. According to The Punch, the report argues that the N1,000 note is...

The Digest: Bureau De Change (BDC) operators are warning of imminent collapse as the Central Bank of Nigeria’s continued suspension of dollar sales to retail forex traders pushes the sector toward extinction. With most operators struggling to cover basic expenses, the industry now describes...

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...