CBN retains interest rate at 26.5%
Central bank interest rates will remain unchanged at 26.50 percent, the Monetary Policy Committee (MPC) announced on Wednesday. The central bank also kept the Standing Facilities Corridor around the main…
FAAC shares N2.04tn for March as revenue rises by N150bn
The Federation Account Allocation Committee shared a total of N2.04 trillion as revenue for March 2026, reflecting a N150 billion increase from the N1.89 trillion distributed for February, amid stronger…
CBN concludes banking sector recapitalisation, raises N4.65trn
The Central Bank of Nigeria (CBN) announces the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. Over the 24month period, Nigerian banks raised a total of…
CBN unveils 2026 monetary policy agenda
The Central Bank of Nigeria (CBN) has unveiled its 2026 monetary policy agenda, focusing on reducing inflation to single digits, stabilising the exchange rate, and strengthening the country’s financial system. Governor of…
CBN sets 18 as minimum age for BVN registration
The Central Bank of Nigeria (CBN) has issued fresh directives to banks, financial institutions and payment service providers aimed at strengthening electronic payment security, tightening oversight of the Bank Verification…
Tinubu hails NGX N100 trillion milestone, urges Nigerians to invest locally
President Bola Ahmed Tinubu has praised stakeholders in the capital market for driving the Nigerian Exchange past the historic N100 trillion market capitalisation mark, describing the achievement as a strong…
CBN Reduces Interest Rate By 50 Basis Points To 27%
The Central Bank of Nigeria’s Monetary Policy Committee has reduced the interest rate by 50 basis points, from 27.5 per cent in July to 27 per cent. This followed…
CBN to banks: stop limiting ATM withdrawals to below N20,000
The Central Bank of Nigeria (CBN) has issued a strong warning to banks that restrict customers from withdrawing up to N20,000 per transaction at Automated Teller Machines (ATMs), despite having…
CBN introduces higher ATM charges, scraps free withdrawals
Nigerians will soon pay more to access cash from Automated Teller Machines (ATMs) as the Central Bank of Nigeria (CBN) has introduced new withdrawal charges, eliminating free interbank transactions and…
FAAC shares N1.727trn November revenue to FG, states, LGs
A total of N1.727 trillion, representing the November 2024 Federation Accounts Revenue, was distributed among the Federal, State, and Local Governments during the December meeting of the Federation Accounts Allocation…