CBN Offers N2tn OMO Bills as Banking Liquidity Hits N6.28tn
The Central Bank of Nigeria (CBN) has offered N2tn worth of Open Market Operations (OMO) bills to mop up excess liquidity from the banking system, following a 69.39 per cent surge in surplus funds to N6.283tn. Data from the Financial Markets Dealers Association (FMDA) showed that banking system liquidity rose from N3.709tn in the preceding […]
CBN Engages Nigerian, Chinese Firms to Tackle Cross-Border Payment Challenges
The Central Bank of Nigeria (CBN) has engaged Nigerian and Chinese businesses to address cross-border payment challenges, strengthen banking connections, and improve financial transactions between the two countries. The discussions took place at a high-level business and financial roundtable in Beijing, China, on Wednesday, October 21, 2026, bringing together business leaders and financial stakeholders to […]
NCC Records 6,500 Network Interventions, Compensates 75m Subscribers
The Nigerian Communications Commission (NCC) has recorded more than 6,500 network interventions in 2026 and compensated 75 million subscribers for poor telecommunications services. The commission also disclosed that nearly three million subscribers had received refunds for failed airtime and data purchases. NCC Executive Vice Chairman, Dr Aminu Maida, disclosed this on Tuesday at the 95th […]
Nigerian Firms Raise N1.3trn Through Commercial Papers Amid High Lending Rates
Nigerian companies raised more than N1.3 trillion through commercial papers in the first nine months of 2026 as bank lending rates above 30 per cent pushed businesses towards alternative sources of financing. The shift comes despite the Central Bank of Nigeria’s reduction of the Monetary Policy Rate from 26.5 per cent to 23 per cent […]
CBN Urges Banks to Channel ₦4.65trn Recapitalisation Into Productive Lending
The Central Bank of Nigeria (CBN) has urged commercial banks to translate the ₦4.65 trillion raised during the latest recapitalisation exercise into increased productive lending, improved financial services and stronger support for economic growth. CBN Deputy Governor, Corporate Services, Dr Muhammad Sani Abdullahi, made the call on Tuesday at the 38th Seminar for Finance Correspondents […]
CBN Cuts Benchmark Interest Rate to 23%
The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate from 26.5 per cent to 23 per cent, as the Monetary Policy Committee (MPC) responded to easing inflationary pressures in the economy. CBN Governor Olayemi Cardoso announced the decision on Tuesday following the conclusion of the committee’s 307th meeting in Abuja. The 350-basis-point […]
CBN Opens Regulatory Sandbox for Virtual Assets, Data-Driven Fintechs
The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, with a focus on virtual asset service providers and data-enabled financial services. Applications opened on August 12, 2026, and will close on August 31 as the apex bank seeks to promote responsible innovation within Nigeria’s digital financial […]
CBN Records ₦83.95tn in Bank Deposits as Liquidity Strengthens
Commercial banks significantly increased their deposits with the Central Bank of Nigeria (CBN) through its Standing Deposit Facility (SDF) in July 2026, signalling improved liquidity across the banking sector amid the apex bank’s tight monetary policy. Data released by the CBN showed that deposits placed by banks under the SDF rose to ₦83.95 trillion in […]
Nigeria’s Private Sector Credit Hits N472tn Despite High Borrowing Costs
In the first half of 2026, Nigeria’s private sector credit reached a total of N472.02 trillion, but high borrowing costs hindered new investments by businesses, particularly small and medium-sized ones. Additionally, credit granted to the private sector by the Central Bank of Nigeria (CBN) increased by 2.7% to N83.26 trillion in June, compared to May’s […]
CBN Reports Increase in Nigeria’s Money Supply Despite Tight Monetary Policy
Nigeria’s money supply rose to N133.25 trillion in June 2026, up from N129.21 trillion in May, even as the Central Bank of Nigeria (CBN) maintained its Monetary Policy Rate (MPR) at 26.5 per cent. The latest figures released by the apex bank show that the country’s broad money supply increased by N4.04 trillion within one […]
CBN Holds Interest Rate at 26.5% Again
Nigeria’s central bank has decided to leave its key interest rate right where it is. This is the second meeting running. Olayemi Cardoso, who heads the Central Bank of Nigeria, broke the news Tuesday after the Monetary Policy Committee wrapped up its 306th meeting in Abuja. “The Committee decided as follows: retain the monetary policy […]
Emefiele: Supreme Court Upholds Final Forfeiture of Properties, $2.045m
The Supreme Court on Friday handed the Economic and Financial Crimes Commission (EFCC) a major legal victory, affirming the final forfeiture of seven landed properties, $2.045 million, and share certificates linked to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Government. In a unanimous judgment delivered by a five-member […]