CBN: Supporting Nigeria's Digital Economy for Youth Empowerment  By Abdulrahman Abdulraheem As the biggest economy in Africa with one of the largest youth populations in the world, Nigeria is well-positioned to develop a strong digital economy which is expected to have a transformational impact on the...

Inflation to Reduce in Coming Months – Cardoso The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has expressed optimism that with the measures in place, core and headline inflation will come down in the coming months. He also disclosed a new strategy...

Again, CBN Raises Interest Rate to 26.25% The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), a benchmark interest rates, from 24.75 percent to 26.25 percent. The CBN Governor and the Chairman of the of Monetary Policy Committee (MPC), Mr. Olayemi Cardoso,...

CBN Orders Banks to Halt 0.5% Cybersecurity Charges The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to stop the implementation of 0.5 percent cybersecurity charges on electronic transactions. This was disclosed in a circular to all commercial, merchant, non-interest, payment service...

Money supply falls to N92.3tn in March – CBN Nigeria’s Money Supply has dropped marginally from N93.9tn in February to N92.3tn in March 2024, according to data from the Central Bank of Nigeria (CBN). Money supply refers to the total amount of monetary assets available in...

Inflation: Imported Food Prices Rise 34% in One Year – NBS The National Bureau of Statistics says the average price of imported food commodities to Nigeria rose to its highest level, reaching 34 per cent in one year between April 2023 and April 2024. According to...