CBN Targets 95% Financial Inclusion By 2024   The Central Bank of Nigeria (CBN) has unveiled seven key policies and products that will aid the realisation of 95 per cent financial inclusion in Nigeria by 2024. The policies include, the revised National Financial Inclusion Strategy (3.0), the...

Amid Fiscal Risks, Fed Govt Borrows N24trn From CBN   The Federal Government has borrowed N6.31tn from the Central Bank of Nigeria through Ways and Means Advances in 10 months. This has pushed the Federal Government’s borrowing from the CBN from N17.46tn in December 2021 to N23.77tn...

Currency Outside Banks Increased By N108.67bn To N2.84trn In October   As the Central Bank of Nigeria (CBN) steps up effort to redesign N200, N500, and N1,000 notes currently in circulation, currency outside the banks added N108.67billion to N2.84 trillion in October 2022 from N2.73 trillion...

CBN Says 36 million Nigerians Lack Access To Financial Services    The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the...

CBN Raises Interest Rate To 16.5%   The Monetary Policy Committee of the Central Bank of Nigeria voted Tuesday to increase the benchmark interest rate by 100 basis points to 16.5 per cent, the highest since 2001. The CBN Governor, Godwin Emefiele, disclosed this while reading the...

IMF Wants More Autonomy For CBN, Says Nigeria Should Determine FX Policy     The International Monetary Fund (IMF) has said Nigeria does not need any external influence in the choice of her foreign exchange policy. Speaking in Abuja at an interactive panel on Monetary Policy Management in...