…the official foreign exchange market on Monday ahead of the Central Bank of Nigeria’s, CBN Monetary Policy Committee, MPC, interest rate decision. CBN data showed that the naira gained slightly to N1,380.10 per dollar on Monday from N1,380.18 per dollar recorded last Friday. This means that at the official foreign exch…

…which has struggled under high interest rates. Their position comes despite a recent CBN Inflation Expectations Survey showing that 61.1 per cent of Nigerians want interest rates reduced ahead of the MPC meeting. In telephone interviews with The PUNCH, economists and business leaders, including the Chief Executive Offi…

…what subsequently happened. The N30 trillion, removed from the Central Bank of Nigeria, CBN, without NASS approval, accountability and records of disbursements by the Buhari government, could only have occurred in a democracy in which the Senate President and Speaker had absolutely ceased to perform their constitutiona…

The CBN has issued new regulatory guidance directing BDC operators on how they must handle foreign exchange purchased through the NFEMThe apex bank warned that BDCs holding onto unutilised FX beyond the approved utilisation period risk forfeiture and suspension of market accessThe apex bank also launched a centralised…

…The case is one of several proceedings instituted against Emefiele since his removal as CBN governor in 2023. The former apex bank chief is facing multiple criminal charges in Abuja and Lagos bordering on alleged procurement fraud, abuse of office and other financial crimes, allegations he has consistently denied. He h…

…Asset Office as the council’s operational body, with its secretariat domiciled at the CBN. The office will be responsible for the day-to-day coordination of information sharing, applications and reporting among the agencies, supported by an integrated supervisory technology platform that provides shared visibility whil…

…challenges.” He congratulated BusinessDay on its 25th anniversary and also commended the CBN for winning the Central Bank of the Year Award. “Achievements by Nigerian institutions deserved far greater recognition,” he noted. “As journalists, we are often quick to report failures, but when Nigerian institutions receive…

The Central Bank of Nigeria, CBN, has issued fresh guidelines on how licensed Bureau de Change, BDC, operators can purchase foreign exchange. The guidelines, signed by the CBN’s Director of the Trade and Exchange Department, Aderinola Shonekan, were issued in a circular dated July 15, 2026. According to the apex bank,…

Court remands blogger Ugagbe in Kuje prison for allegedly defaming CBN Deputy Governor, Usoro A Federal High Court in Abuja on Tuesday, July 14, ordered that a blogger, Stanley Ugagbe, be remanded in Kuje Prison after he was arraigned on charges bordering on alleged cyberstalking and the alleged defamation of Emem Usor…

…the secretariat? That’s government magic. “How was he able to open an account with the CBN? The agency even secured N24 billion in our national budget.” Watch video PFIPC: Isaac Fayose blasts FG for allegedly sparing officials mentioned by Adeniyi [VIDEO]

…now considering President Bola Tinubu’s proposal on the matter. It is also probing the CBN and NNPCL over unremitted operating surpluses. In politics, Atiku Abubakar and the African Democratic Congress have defended the party’s direct primaries after a court voided congresses led by Senator David Mark. PUNCH Online cur…

…cycle over the past two years. Since assuming office in September 2023, CBN Governor Olayemi Cardoso has led the Monetary Policy Committee through one of the most aggressive tightening cycles in Nigeria’s history, raising the Monetary Policy Rate from 18.75 per cent to a peak of 27.50 per cent through a series of hikes…

…largely by higher capital transfers and increased loan repayments. According to the CBN, “Capital outflows increased, mainly on account of higher capital transfers in the review period. Total capital outflow rose to $2.75bn, from $1.63bn in the preceding month.” The apex bank attributed the increase primarily to a shar…

…Affairs and the approvals he got to open accounts with the Central Bank of Nigeria (CBN), request for approval of self-accounting Adeyemi sent to the AGoF and the conveyance of approval for take-off of the PFIPC. Other documents listed by the prosecution are a letter of request for collaboration with the ministry in th…

…parallel market, Nigeria's external reserves, which provide the Central Bank of Nigeria (CBN) with ammunition to support the currency, and meet external obligations, continued to rise. Gross reserves increased to $51.71 billion as of July 8, 2026, representing a 38.71 percent increase from $37.28 billion recorded in th…

Stay updated with Punch’s morning recap: INEC faces six election lawsuits, CBN clarifies N100 note validity, and May Edochie heads to court. Get the top st Read More: https://punchng.com/morning-recap-inec-battles-six-election-lawsuits-old-n100-validity-may-edochie-heads-to-court-other-top-stories/

By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has stated that the Standard N100 note is still a legal tender and must be accepted for all transactions. The apex bank, in a statement by its Ag. Director, Corporate Communications, Mrs. Hakama Sidi-Ali, yesterday, said the clarification became necessa…

…the Nigerian Foreign Exchange Market (NFEM), as data from the Central Bank of Nigeria (CBN) showed that the indicative exchange rate remained unchanged at N1,379 per dollar. Consequently, the margin between the parallel and official markets narrowed to N21 per dollar from N26 per dollar on Tuesday. The interbank turnov…

…at N1,379.06 per dollar. Data from the official website of the Central Bank of Nigeria (CBN) revealed that the Naira lost N3.32. This represented a 0.24 per cent loss compared with Tuesday, when the local currency traded at N1,375.74. The Naira, which opened the trading week on Monday with a gain of N1.92 at the offici…

CBN warns against rejecting standard N100 notes The Central Bank of Nigeria (CBN) has warned members of the public, businesses and financial institutions against rejecting the standard ₦100 banknote, reaffirming that it remains legal tender and must be accepted for transactions across the country.The clarification foll…

…deductions and remittances are handled directly by the Central Bank of Nigeria (CBN), adding that the NCAA does not make such payments from its own account. “The NCAA does not make remittances directly to the agency. The CBN does so. From our checks, the remittances were being processed. So, the issue of NCAA owing any…

…exchange reforms continue to influence market activity. The Central Bank of Nigeria (CBN) has sustained measures aimed at boosting liquidity in the official market and promoting a more transparent exchange rate system. Analysts say investors and businesses are closely monitoring foreign exchange inflows, crude oil earn…

…over N1.6bn linked to Emefiele, he neither received the funds directly from the former CBN governor nor witnessed him hand over any money. "From the evidence I provided, I said I received the funds through his personal assistant (Eric Ocheme). "I have not seen the first defendant giving money to Mr Ocheme, but he gives…

…(OADC), a subsidiary of the WIOCC Group (West Indian Ocean Cable Company), said the CBN’s directive is the result of years of investment in Nigeria’s digital infrastructure. “This has been a long time coming,” Coker said during a media briefing on June 25. “We’ve spent years building reliable, world-class data centres…

…Force Headquarters, Abuja, effected arrest ***Residents confirm arrest ***PFIPC has no CBN account, OAGF clarifies By Emma Ujah, Abuja Bureau Chief & Adeola Badru IBADAN-The Police have arrested the father and family friend of embattled Director-General of the purported Presidential Economic Advisory Council/Presidenti…