CBN

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CBN Reports Stronger Net Reserves As External Buffers Improve

Ogochukwu Onwaeze, THEWILL -
March 02, (THEWILL) — Governor Olayemi Cardoso says Nigeria’s foreign reserve position strengthened significantly at the end of 2025, reflecting improved external sector fundamentals and sustained monetary reforms. Speaking after the Monetary Policy Committee meeting and in subsequent remarks, Cardoso...
Business

Marginal Rate Cut Fails to Ease Funding Squeeze on Manufacturers

Ogochukwu Onwaeze, THEWILL -
March 02, (THEWILL) — When the Central Bank of Nigeria trimmed the Monetary Policy Rate from 27 percent to 26.5 percent last week, the move was interpreted in some quarters as a signal that the tightening cycle may be...
Business

Black-Market Naira Gains As CBN Lowers MPR To 26.5%

Ogochukwu Onwaeze, THEWILL -
February 25, (THEWILL) — The Naira strengthened modestly in Nigeria’s parallel (black) foreign exchange market on Wednesday, following the Central Bank of Nigeria’s (CBN) decision to cut the Monetary Policy Rate (MPR) from 27 percent to 26.5 percent. The...
Business

₦4trn Raised As Banks Race To Meet CBN’s March Recapitalisation Deadline

Ogochukwu Onwaeze, THEWILL -
February 25, (THEWILL) — Nigeria’s banking industry is entering the final stretch of its recapitalisation race, with lenders collectively raising about ₦4 trillion as they work to meet new minimum capital requirements set by the Central Bank of Nigeria...
Business

BREAKING: CBN Lowers Interest Rate By 50 Basis Points To 26.5%

Felix Ifijeh, THEWILL -
February 24, (THEWILL) — The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has lowered the Monetary Policy Rate by 50 basis points from 27% to 26.5%, signalling a cautious shift toward monetary easing amid evolving economic...
Business

Central Bank of Nigeria Flags Stablecoins as Emerging Threat to FX Stability

Ogochukwu Onwaeze, THEWILL -
February 20, (THEWILL) —The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has warned that the rapid growth of stablecoins and private digital payment platforms could heighten foreign exchange volatility and weaken monetary policy effectiveness in emerging economies. Cardoso...
Business

Cardoso Urges Stronger Central Bank, DFI Collaboration To Drive Africa’s Growth

Ogochukwu Onwaeze, THEWILL -
February 18, (THEWILL) — The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has called for deeper collaboration among African central banks and development finance institutions to accelerate growth, industrialisation, and job creation across the continent while...
Business

CBN Solely Determines Forex Rates for Cargo Clearance- Customs

Ogochukwu Onwaeze, THEWILL -
February 17, (THEWILL) — The Nigeria Customs Service has moved to clear up confusion over who determines the foreign exchange rates used in valuing imported and exported goods at Nigerian ports, emphasising that it does not set or...
News

All Rates Come Directly From CBN – NCS Clarifies, Reaffirms B’Odogwu As Sole Valuation Platform

Felix Ifijeh, THEWILL -
February 16, (THEWILL) — The Nigeria Customs Service (NCS) has clarified public concerns over foreign exchange rates and Customs valuation practices, reaffirming that all rates applied in import and export transactions come directly from the Central Bank of Nigeria...
Business

CBN, Others Finalizing Eco Currency Framework Ahead of 2027 Launch

THEWILL -
Governors of central banks from 12 West African countries, including the Governor of the Central Bank of Nigeria (CBN), are meeting in Monrovia, Liberia, to advance technical and institutional preparations for the launch of the long-awaited Eco regional currency...
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NewsFelix Ifijeh, THEWILL -

Security Pressure Mounts: Army Crushes ISWAP Attack In Borno As Bandits Strike Sokoto

Nigeria’s security forces are confronting renewed attacks by terrorists and armed bandits in parts of the North, with troops recording a major battlefield success against Islamic State West Africa Province (ISWAP) terrorists in Borno State while communities in Sokoto State came under attack from armed bandits.
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