Nigeria’s net external reserves have risen to $46 billion, according to CBN Governor Olayemi Cardoso, who linked stronger external buffers to foreign exchange stability and investor confidence.
The CBN’s latest Business Expectations Survey ranks multiple taxation, insecurity and high interest rates as the biggest obstacles for Nigerian firms, though sentiment remains positive.
Nigerian banks reduced their deposits with the CBN to N82.99 trillion in August, while analysts linked the movement to liquidity conditions, credit risks and interest rates.
The CBN has cut its benchmark interest rate by 350 basis points to 23 per cent, citing easing inflation, stronger external reserves and improved macroeconomic conditions.
The Central Bank of Nigeria has eased Discount Window rules, allowing eligible institutions to participate in FX and government securities transactions without losing access to central bank liquidity support.
Nigeria recorded a record $109.86 billion in foreign exchange inflows in 2025, driven by non-oil exports and capital importation, while digital payment transactions climbed to N3.46 quadrillion and electronic fraud losses dropped by over 50 per cent.
CBN Governor Olayemi Cardoso defended the bank’s monetary policies before the Senate, highlighting easing inflation, stronger foreign reserves and progress in bank recapitalisation.
The Central Bank of Nigeria has admitted opening two foreign-currency accounts for the controversial PFIPC, as fresh revelations emerge in the ongoing investigation into the alleged fake government agency.
Business leaders and economists expect the Central Bank of Nigeria to maintain its benchmark interest rate at 26.5% as the MPC meets, citing geopolitical tensions and inflation risks despite growing calls for lower borrowing costs.
The Central Bank of Nigeria has unveiled a draft revision of its guidelines governing the licensing and regulation of Financial Holding Companies (FHCs), proposing stricter ownership, governance and capital requirements aimed at strengthening oversight across Nigeria’s financial sector. The proposed framework, released in an exposure draft dated June 10, was circulated to financial holding companies,…
