The total amount of physical cash circulating outside Nigeria’s formal banking system declined once again in April 2025, sliding to N4.57 trillion from N4.60 trillion recorded in March. This development, confirmed in the latest data released by the Central Bank of Nigeria, comes against the backdrop of sustained monetary tightening by the apex bank. The
Investors Embrace Ethical Financing as Sukuk Oversubscribed by 735% Nigeria’s journey into faith-based, ethical financing has hit an extraordinary milestone with the Federal Government’s sixth Sovereign Sukuk issuance attracting a record-breaking ₦2.205 trillion in subscriptions, an oversubscription of 735% against the initial ₦300 billion offered. This landmark achievement not only cements Sukuk’s place in Nigeria’s
In a landmark move that could redefine the future of Islamic finance in Nigeria, the Central Bank of Nigeria (CBN) has announced the official rollout of strategic liquidity management tools tailored exclusively for non-interest financial institutions. These include the deployment of the Nigerian Non-Interest Financial Institutions’ Master Repurchase Agreement (NNMRA) and the commencement of auctions
In a notable gesture aimed at boosting emergency response capacity in Bauchi State, the Central Bank of Nigeria (CBN) has donated a motorised fire caddy to the Federal Fire Service (FFS) as part of its corporate social responsibility initiatives. The donation was officially handed over on Tuesday by the Controller of CBN Bauchi Branch, Mr.
