According to Adetilewa Adebajo, Chief Executive Officer of CFG Advisory, Nigeria risks going in the direction of Zimbabwe and Venezuela if inflation is not curtailed.

Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has again reaffirmed the Bank’s commitment to implementing policies that foster sustainable growth in the financial markets while ensuring overall economic stability. 

Mr. Olayemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), has reiterated the Bank’s commitment to collaborating with relevant financial institutions, fiscal authorities, and the National Assembly in order to ensure the success of the ongoing bank recapitalization exercise.  

The Afenifere Renewal Group (ARG), a Pan Yoruba socio-political organisation, yesterday, urged the federal government to mandate the Central Bank of Nigeria (CBN) to reverse the recent suspension of Heritage Bank’s licence.  

The tightening of the Central Bank of Nigeria’s (CBN) monetary policy has lead to a lack of liquidity in the banking system. As a result, in just three weeks in June 2024, several Nigerian banks and merchant banks have borrowed an estimated N3.76 trillion from the CBN to cover their daily obligations. 

According Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), it's Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.