Tag: cbn

CBN Increases Foreign Tuition Limit to $25,000   The Central Bank of Nigeria (CBN) has increased the maximum foreign exchange remittance for tuition payments by Nigerian students studying abroad to $25,000 per semester, up from the previous cap of $15,000. The adjustment is contained in the CBN...

Nigeria’s External Reserves Climb to $49.58bn, Gain $1.22bn in May ‎ ‎Nigeria’s external reserves rose by $1.22 billion in May 2026 to close the month at $49.58 billion, underscoring improving foreign exchange inflows and growing confidence in the country’s economic reforms. ‎ ‎Data from the Central Bank of...

The recent redeployment of the Central Bank of Nigeria’s four Deputy Governors may have appeared to many as a routine administrative exercise.

CBN Releases Fourth Edition of FX Manual to Stabilise Market The Central Bank of Nigeria (CBN) has released the fourth edition of its Foreign Exchange Manual, aiming to stabilise the FX market through clearer rules, transparency, and stronger compliance. CBN Governor Olayemi Cardoso said: “Foreign exchange...

The Central Bank of Nigeria (CBN) has unveiled the Nigeria Payment System Vision (PSV) 2028, a roadmap aimed at achieving 95% financial inclusion by 2028,

The Central Bank of Nigeria (CBN) has unveiled plans to bring ₦2.83 trillion currently outside the banking system into formal financial channels by 2028.