Professor of Law at the University of Ilorin and a member of the Financial Regulation Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN), Professor Abdurrasaq Abdulmajeed Alaro, has said being a Shaykh or Shari'ah scholar alone does not qualify anyone to speak authoritatively on Islamic banking and finance.

Private Sector Credit Rises to N83.3tn on Lending Growth   Credit to Nigeria’s private sector increased to N83.3tn in June 2026, representing a 2.8 per cent month-on-month rise from N81tn in May, according to the latest Money and Credit Statistics released by the Central Bank of...

Despite Tight Monetary Policy, Nigeria’s Money Supply Hits N133.25trn   Nigeria’s broad money supply climbed to N133.25tn in June 2026, up from N129.21tn in May, despite the Central Bank of Nigeria maintaining a benchmark Monetary Policy Rate at 26.5 per cent. This underscores continued growth in liquidity...

Senate Grills CBN, NNPCL, 40 MDAs Over Public Funds   The Senate on Wednesday resolved to summon the Central Bank of Nigeria, the Nigerian National Petroleum Company Limited and about 40 other Ministries, Departments and Agencies over their alleged failure to honour invitations to account for...

External Reserves Rise by 58% on Inflows and FX Reforms Under Cardoso   Nigeria’s external reserves have risen by 58 per cent since Olayemi Cardoso assumed office as Governor of the Central Bank of Nigeria in September 2023, driven by stronger export earnings, increased portfolio investments,...

CBN Urges Banks to Focus on Governance, Not Just Account Openings   The Central Bank of Nigeria (CBN) has urged financial institutions to shift their focus from mere account-opening metrics to delivering measurable customer outcomes, warning that financial inclusion without strong corporate governance risks eroding public...