Rate Cut to Ease Financial Burden on SMEs, Households – CBN   The Central Bank of Nigeria (CBN) has stated that reducing the monetary policy rate by 50 basis points is a strategic move aimed at supporting the nation’s economic recovery, particularly in relation to Small...

Nigerian Banks Pay Out N135bn Dividends Amid Economic Challenges   Four of Nigeria’s leading financial institutions—United Bank for Africa, Zenith Bank, Guaranty Trust Holding Company, and Stanbic IBTC Holdings—have rewarded their shareholders with interim dividends amounting to about N135.49bn for the half-year ended June 30, 2025. The...

CBN Flags Off Nationwide Campaign Against Naira Abuse The Central Bank of Nigeria (CBN) has launched a nationwide sensitisatiin campaign against the abuse and poor handling of the naira. The CBN also warned that careless practices such as spraying, mutilating, and hoarding of naira notes undermine...

Cardoso: 14 Banks Met New Capital Benchmark The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Tuesday disclosed that 14 Nigerian banks have so far fully met the new capital requirement under the apex bank’s ongoing recapitalisation exercise. Cardoso made this known in...

Naira Strengthens in Black Market, Holds Steady at Official Window on Sept 23 The naira extended its gains against the US dollar on Tuesday, September 23, appreciating in the parallel market while maintaining stability at the Nigerian Foreign Exchange Market (NAFEM). Currency dealers in Abuja told...

The CBN’s Monetary Policy Committee has reduced the interest rate to 27 per cent from 27.5 per cent in July.