…Foreign Exchange Market (NAFEM), according to data from the Central Bank of Nigeria (CBN).That closing rate marked an 82-kobo improvement compared with the N1,331.69 per dollar recorded in the previous session, representing a 0.06% gain for the local currency.Naira records a slight gain against the dollar while Nigeria…

…The Director, Stakeholder Engagement and Institutional Relations Department of the CBN, Mrs Hakama Sidi-Ali, said this on Tuesday at the CBN Special Day during the 21st Abuja International Trade Fair. “The Bank recently reset the Monetary Policy Rate from 26.5 per cent to 23 per cent and recalibrated the Standing Facil…

…living abroad sent $950 million in diaspora remittances in July 2026, according to the CBNThe apex bank is targeting $1 billion in monthly remittances to boost Nigeria’s foreign exchange supplyThe CBN said FX reforms have narrowed the gap between official and parallel market rates, while reserves rose to $55.60 billion…

…in foreign reserves and ongoing monetary policy measures by the Central Bank of Nigeria (CBN), which have helped curb sharp exchange rate fluctuations. The contained premium in the parallel market ranging roughly between ₦43 and ₦63 above the official rate indicates that increased transparency and liquidity in formal c…

…as households grappled with intensifying price pressures. The Central Bank of Nigeria, CBN, in its latest Household Expectation Survey Report said that the overall Consumer Sentiments Index, CSI, dropped steeply to -18.7 points, down from -9.9 points in August. The decline reflects a cautious public, increasingly squee…

…and sustained resilience across key economic pillars. The Central Bank of Nigeria’s (CBN) Purchasing Managers Index (PMI) report, released during the weekend, showed that the composite PMI rose to 53.0 points in September 2026, up from the 52.7 points recorded in August. PMI is a monthly economic indicator that measure…

…announced a downward review of interest rates on its Naira Savings Products following a CBN decisionThe bank reduced rates across four savings accounts, with the All Savings Account dropping from 7.95% to 6.90% per annumThe revised rates took effect on September 24, 2026, with withdrawal limits applying for customers t…

The Coalition for Good Governance in Nigeria withdrew its earlier demand for NAICOM Commissioner Olusegun Ayo Omosehin's resignation or suspensionThe group admitted its earlier allegations against NAICOM were inaccurate and unsupported by verifiable evidence after an internal reviewCGGN also retracted claims that NAICO…

…other inflows into the money market. The buildup occurred despite renewed efforts by the CBN to absorb surplus cash through the sale of government securities. The apex bank offered N2.5tn in OMO bills across three maturities on Tuesday, with strong investor demand reportedly taking the eventual amount raised to about N…

…will be installed in Bolari, the city centre behind the Central Bank of Nigeria, CBN, and along Dass Road. The projects will bring the number of newly approved solar streetlights in the listed locations to 1,085. Fawu also disclosed that renovation works had been approved for the Ministry of Women Affairs, while N423 m…

…improvement came as dollar liquidity increased significantly.Central Bank of Nigeria (CBN) data showed that interbank FX turnover jumped by about 226% to $80.58 million from $24.73 million recorded in the preceding session.Higher liquidity generally gives businesses, banks and other authorised market participants great…

By EmekaAnaeto, Babajide Komolafe & Emma Ujah The Central Bank of Nigeria (CBN) has revealed that the nation’s Net External Reserve had plunged to a mere $859 million as of the second quarter of 2023, a clear negative position unprecedented in the history of the bank, and also less than a month imports bill. The apex b…

OPay dismissed a viral social media post claiming it had stopped using customers' phone numbers as wallet account numbersThe fintech company warned that spreading false information about a financial institution could cause public panic and reputational harmOPay issued a 30-minute ultimatum to the author of the post, th…

The naira stayed outside Africa’s 10 highest nominal exchange rates per dollar in September 2026, despite years of volatilitySão Tomé and Príncipe, Sierra Leone, Guinea and Madagascar topped the ranking by local currency units per US dollarUganda’s shilling and Ghana’s cedi faced pressure, while depreciation risks rais…

…years, according to data from the Central Bank of Nigeria. Figures contained in the CBN’s 2025 Statistical Bulletin for the Financial Sector showed that the number of bank branches and cash centres across the country declined from 5,410 in 2022 to 4,934 in 2025. The decline occurred despite an increase in the number of…

By Steve Oko Former Deputy Governor of the Central Bank of Nigeria, CBN, Prof. Kingsley Moghalu, has challenged Ndigbo to stop producing “excellent reports” that end up gathering dust and begin converting their collective ideas into measurable economic, cultural and political power. Moghalu, who chaired the committee t…

…yields began to decline in September following a shift in monetary policy, with the CBN lowering stop rates across the three tenors. The stop rate on the 364-day bill fell to 15.89 per cent at the 23 September auction, down from a quarterly peak of 17.70 percent recorded on 8 July. A review of eight Nigerian Treasury B…

…elections has intensified the contest for Nigeria’s 109 senatorial seats. Meanwhile, the CBN reports that Nigerian banks closed 476 branches and cash centres between 2022 and 2025, reducing the number from 5,410 to 4,934, an 8.8% decline. These developments are among the major stories making the headlines now 1. 2027:…

…years, according to data from the Central Bank of Nigeria. Figures contained in the CBN’s 2025 Statistical Bulletin for the Financial Sector showed that the number of bank branches and cash centres across the country declined from 5,410 in 2022 to 4,934 in 2025. 7. There has been outrage among Nigerians following the k…

…to track funds suspected to be linked to criminal activities. “I’m happy that the CBN too is living up to expectation, trying to make sure that even if we were able to trace monies that are coming in from those other areas, we can track back where they are,” Musa said. Musa also appealed to state governors to reconside…

…in the Nigerian Foreign Exchange Market, NFEM. Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,322.5 per dollar from N1,324.5 per dollar on Wednesday, indicating N2 appreciation for the naira. Consequently, the margin between the parallel and official market…

…about the company and its services.According to Adekunle, the Central Bank of Nigeria (CBN) has also acknowledged the circulating message as fake news.OPay reaffirms commitment to NigeriaOPay said it would not ignore deliberate misinformation capable of creating panic, causing financial losses or undermining confidence…

…reserves to $53.9 billion, their highest point in 18 years. The Central Bank of Nigeria (CBN) now has greater capacity to defend the naira and cushion any shocks tied to the upcoming election season.Naira continues its positive performance in the official FX market. Photo: BloombergImagesCBN Reforms and Upcoming Market…

The Central Bank of Nigeria (CBN) has taken steps to boost the naira's value by auctioning off about N4.73 trillion through its Open Market Operations (OMO) billsThe apex bank initially planned to sell half the amount, but investors' appetite led the CBN to more than double the instrumentOMO bills are short-term instru…

Nigeria records $947 million, the highest diaspora remittance inflow - CBN Nigeria recorded $947 million in remittance inflows through International Money Transfer Operators (IMTOs) in July 2026, according to data from the Central Bank of Nigeria (CBN). The apex bank highlighted that the figure represents the highest m…