CBN Gives 12-month Deadline for New Anti-money Laundering Standards
The Central Bank of Nigeria has issued a draft framework aimed at modernising anti-money laundering practices across the country’s financial system through the adoption of intelligent, automated solutions.
In a circular dated May 20, 2025, and addressed...
Naira Holds Firm Against Dollar in Black Market
The naira remained stable against the US dollar on Wednesday in the parallel (black) market.
A source at the Abuja black market told Economic Confidential that as of May 21, the naira exchanged at ₦1,610 per dollar for...
Nigeria’s Gross External Reserves Hit $38.90bn in 2025 - CBN
The Central Bank of Nigeria sys Nigeria’s gross external reserves increased by 2.85 per cent to $38.90bn as of May 16, 2025, compared to $37.82bn at the end of March, representing 7.6 months of import...
CBN Retains Interest Rates at 27.5% to Cushion Food Inflation, Insecurity
The Central Bank of Nigeria has announced its decision to maintain Monetary Policy Rates (MPR), which benchmarks interest rates at 27.5 per cent.
The decision of the Monetary Policy Committee of the bank was made...
FG Moves to Sell 753-unit Housing Estate Recovered from Emefiele
The Ministry of Housing and Urban Development has officially taken delivery of a 753-unit housing estate formerly owned by the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.
Disclosing this in a statement...
