LAGOS, July 24, 2025 The Nigeria Employers’ Consultative Association (NECA) and prominent economists have expressed support for the Central Bank of Nigeria’s (CBN) continued tight monetary policy stance, even as the Lagos Chamber of Commerce and Industry (LCCI) raised concerns over its impact on businesses. The CBN, earlier this week, retained the Monetary Policy Rate
News Report – July 23, 2025 At least eleven commercial banks in Nigeria have exceeded the regulatory threshold of five percent for non-performing loans (NPLs), following an industry-wide reclassification of risk assets in April 2025. The Central Bank of Nigeria’s (CBN) guidelines stipulate that lenders must maintain NPL ratios below 5% to ensure financial system
The Nigerian naira ended last week on a weaker note, closing at 1,532.34 per dollar in the official market despite various interventions by the Central Bank of Nigeria aimed at supporting the currency. The local currency had started the week strong, reaching a four-month high of 1,518.88 per dollar on the first trading day. However,
Abuja, July 11, 2025 — In a strategic move to strengthen the capital base of Nigerian banks and reinforce financial system stability, the Central Bank of Nigeria (CBN) has announced the temporary suspension of the regulatory cap on Additional Tier 1 (AT1) capital, effective immediately until March 2026. The policy shift, revealed in a circular
Abuja, July 9, 2025 — The Central Bank of Nigeria (CBN) has reaffirmed its commitment to expanding access to affordable financial services for all Nigerians, as it hosted the 34th meeting of the National Financial Inclusion Technical Committee at its headquarters in Abuja. The session, held on July 8, 2025, was chaired by Mr. Philip
In a decisive move to promote transparency and efficiency within Nigeria’s banking sector, the Central Bank of Nigeria (CBN) has issued a fresh set of operational guidelines aimed at standardising credit reporting practices among commercial banks and other financial institutions. The apex bank stated that the new rules are designed to enhance data accuracy, ensure
Abuja, July 9, 2025 — The Central Bank of Nigeria (CBN) has issued a directive mandating all commercial banks to submit detailed Capital Restoration Plans (CRPs) by July 14, 2025, as part of its exit strategy from COVID-era regulatory forbearance. The circular, signed by the Director of Banking Supervision, Olubukola Akinwunmi, stipulates that affected banks must present
Abuja, July 9, 2025 — The Central Bank of Nigeria (CBN) has issued a warning that persistent increases in input costs across key sectors may soon trigger a resurgence in consumer price inflation. The alert follows the release of the June 2025 Purchasing Managers’ Index (PMI) report by the bank. According to the CBN, input
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Thursday, June 26, 2025, received the Governor of the Central Bank of Egypt, Mr. Hassan Abdalla, at the CBN Headquarters in Abuja for high-level bilateral discussions. The meeting, held as part of efforts to enhance regional cooperation, focused on deepening central banking
ABUJA — The Central Bank of Nigeria (CBN) has attributed the delay in the commencement of a critical ₦85 billion healthcare infrastructure project to ongoing litigations initiated by the Nigeria Governors Forum (NGF) and other unnamed “interlopers.” The CBN said the project, which aims to establish 774 functional healthcare centres across each Local Government Area
