CBN

Business

Banks’ SDF Balances Plunge 42% On CBN’s Aggressive Mop-Up

THEWILL. -
October 09, (THEWILL) — The Central Bank of Nigeria’s (CBN) intensified liquidity mop-up has caused commercial banks’ placements in its Standing Deposit Facility (SDF) to plunge by 42.3 percent within a week — from N6.07 trillion on October 2,...
Business

CBN Assures Nigerians Of Economic Stability As Monetary Reforms Yield Results

Udeme Utip, THEWILL -
October 08, (THEWILL) — The Central Bank of Nigeria (CBN) has reaffirmed its commitment to sustaining monetary policies and economic reforms introduced by President Bola Tinubu, assuring that the measures are already yielding positive results in stabilising the economy. CBN...
Business

CBN’s ₦5m Fine Targets Rogue POS Agents, Pushes For Cleaner Financial System

THEWILL -
October 07, (THEWILL) — The Central Bank of Nigeria has imposed a ₦5m fine on operators involved in illegal agent-banking activities, in what analysts describe as part of efforts to sanitise the country’s fast-growing but loosely regulated point-of-sale (POS)...
Business

CBN Sets N1.2m Daily Transaction Limit For POS Agents

THEWILL. -
October 07, (THEWILL) — The Central Bank of Nigeria (CBN) has announced new guidelines for Point-of-Sale (POS) agents across the country, introducing a daily transaction limit of N1.2 million as part of efforts to strengthen oversight and standardise operations...
Business

CBN Announces Full Control Of Fixed Income Market Effective November 2025

Sam Diala, THEWILL -
October 02, (THEWILL) — In a strategic move to deepen transparency and efficiency in Nigeria’s financial ecosystem, the Central Bank of Nigeria (CBN) has announced a phased operational overhaul of the Nigerian Fixed Income Market commencing from the third...
Business

Naira’s Modest Gains Offer Mild Relief Amid Dovish CBN Policy

THEWILL -
September 24, (THEWILL) — The naira recorded a modest appreciation against the U.S. dollar in early trading this week, with the official exchange rate settling at N1,493/$. The movement followed a minor reversal of earlier dollar gains, reflecting the...
Business

Banking Sector Remains Resilient As 14 Banks Hit New Capital Benchmark – CBN

Felix Ifijeh, THEWILL -
September 24, (THEWILL) — The Central Bank of Nigeria (CBN) has confirmed that 14 banks have fully met the new capital requirements under its ongoing recapitalisation exercise. CBN Governor, Yemi Cardoso, disclosed this on Tuesday while presenting the communiqué from...
Business

UPDATED: CBN Cuts Interest Rate to 27% in Policy Adjustment

Felix Ifijeh, THEWILL -
September 23, (THEWILL) — The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has reduced the Monetary Policy Rate (MPR) by 50 basis points, lowering it from 27.5% to 27%. The announcement was made by CBN Governor, Olayemi Cardoso, during...
Business

CBN, NAADI Assure South-South Youths Of Funding, Structures For Agric Ventures

Udeme Utip, THEWILL -
September 19, (THEWILL) — The South-South youths in agriculture have received a major boost as key stakeholders in the sector, including the Nigerian Agribusiness and Agro-Industry Development Initiative (NAADI) and the Central Bank of Nigeria (CBN), pledged support to...
News

CBN Orders Banks To Appoint Successor CEOs Six Months Before Exit

Felix Ifijeh, THEWILL -
September 17, (THEWILL) — The Central Bank of Nigeria has directed Domestic Systemically Important Banks to submit the names of successors to their Managing Directors/Chief Executive Officers at least six months before the incumbents vacate office. In a circular signed...
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HeadlineFelix Ifijeh, THEWILL -

Wike, Chinda Meet Fubara As Rivers Reconciliation Deepens Ahead Of 2027

Efforts to consolidate the political reconciliation in Rivers State received another boost on Tuesday as Minister of the Federal Capital Territory (FCT), Nyesom Wike, APC governorship candidate Kingsley Chinda and their supporters met Governor Siminalayi Fubara and members of his political camp in Port Harcourt.
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