UPDATE: Why we Jerked up Interest Rate - Cardoso The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, has said that the hike in interest rates is a response to the current inflationary pressures and the need to stabilise the Naira. Mr Cardoso made the clarification...

CBN Projects 3.38% Economic Growth for Nigeria in 2024   The Central Bank of Nigeria (CBN) has said that growth projections in 2024 indicated that the economy will grow by 3.38 percent. CBN governor, Olayemi Cardoso, made this known while briefing journalists after the Monetary Policy Committee...

CBN Pays Another $400m to Clear FX Backlog The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that the apex bank has paid another $400 million dollars backlog to address the overdue foreign exchange forward obligations. He made this known while responding...

CBN Raises Interest Rate to 22.75% as External Reserves Rise to $34bn The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has raised the country's interest rate to 22.75 percent as part of measures to curb rising inflation. Economic Confidential recalls that the...

CBN to Sell $20,000 to BDCs, Pegs Exchange Rate at N1301 to a Dollar The Central Bank of Nigeria (CBN) has announced the sale of foreign exchange to Bureau de Change (BDC) operators in the country. This was contained in a memo issued on Tuesday and...

CBN Issues Guidelines To Manage Tech Platforms In Banks   The Central Bank of Nigeria (CBN) has issued an Exposure Draft of the Risk-based Cyber Cyber-security Framework and Guidelines for Deposit Money Banks, DMBs and Payment Service Banks, PSBs, in a bid to manage technology platforms...