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 The Central Bank of Nigeria (CBN) has, for the third consecutive time, retained the Monetary Policy Rate (MPR) at 27.5 percent, reflecting a cautious stance amid signs of a gradual decline in the country’s inflationary pressures. The announcement was made on Tuesday during the conclusion of the Monetary Policy
News Report – July 23, 2025 Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso, has affirmed that Nigerians are beginning to show renewed confidence in the Naira, attributing this shift to the effectiveness of recent monetary policies introduced by the apex bank. Speaking at the Monetary Policy Committee (MPC) meeting held in
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,
Governor of the Central Bank of Nigeria (CBN), Mr. Yemi Cardoso, has been named Africa’s Best Central Bank Governor, marking a significant recognition of Nigeria’s renewed financial stewardship under his leadership. The prestigious award, conferred by a leading continental financial publication, celebrates Cardoso’s efforts in restoring confidence in Nigeria’s monetary system, navigating complex economic reforms,
A member of the Central Bank of Nigeria’s Monetary Policy Committee (MPC), Dr. Aliyu Dahiru Sagagi, has projected that the Nigerian Naira will appreciate significantly to ₦1,450 per US dollar by the end of December 2025. Dr. Sagagi made this forecast during a recent economic policy briefing in Abuja, expressing optimism that ongoing monetary and
ABUJA, Nigeria – July 17, 2025 — The Central Bank of Nigeria (CBN) has officially issued a notice for the 301st meeting of the Monetary Policy Committee (MPC), scheduled to hold in Abuja. The meeting, which plays a crucial role in setting Nigeria’s economic and financial direction, is expected to convene key members of the
The Court of Appeal in Abuja has overturned a controversial ₦579 billion judgment earlier awarded to Kasmal International Services Limited against the Central Bank of Nigeria (CBN), ruling that the funds in question belong to the Federation and not to any private entity. The appellate court, in a decision delivered on Wednesday, July 16, 2025,
July 11, 2025 The Central Bank of Nigeria (CBN) has raised concern over the alarming rise in financial fraud across the country, revealing a 45% increase in fraudulent activities within the first half of 2025. Even more troubling, the apex bank disclosed that 70% of the total financial losses were perpetrated through digital platforms. This
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
