Tag: cbn

CBN Rakes in N804bn Through Open Market Auction   The Central Bank of Nigeria (CBN) has raised a total of N804.85bn at its Open Market Operations auction conducted on Monday, April 29, 2025, as investors continued to chase high-yield securities amid excess liquidity and elevated inflation...

Zap Operation: CBN Fines Paystack ₦250m over Licencing Breach, Others Nigeria’s Central Bank has fined fintech company Paystack, ₦250 million ($190,000) for allegedly operating its newly launched consumer product, Zap by Paystack, a peer-to-peer money transfer app in violation of its regulatory licence. According to TechCabal...

Naira Appreciates Further, Trades N1,599.70/$ at Official Market The naira on Tuesday traded N1,599.70/$ at official market maintaining stability in the foreign exchange (FX) market despite the drop in external reserves. The Central Bank of Nigeria’s exchange data showed that it gained slightly against the dollar,...

Oil remains the backbone of Nigeria’s economy, accounting for 90% of export earnings and 56% of projected 2025 government revenue.

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the disbursement of N46.6 billion as the first tranche of liquidation.

Cardoso’s Calculated Gamble: Can Nigeria Finally Turn the Corner? by Rahma Olamide Oladosu   In the bright lights of New York’s Nasdaq MarketSite, a quiet but deliberate transformation of Nigeria’s economic future was laid bare. On April 17, 2025, the Central Bank of Nigeria (CBN), in partnership...