Again, CBN Raises Interest Rate to 26.25% The Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), a benchmark interest rates, from 24.75 percent to 26.25 percent. The CBN Governor and the Chairman of the of Monetary Policy Committee (MPC), Mr. Olayemi Cardoso,...

CBN Activates Plan to Double Foreign Remittance The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP). Mrs. Hakama Sidi Ali, the Director of Corporate Communications disclosed this...

CBN Wants Stronger Monitoring and Evaluation to Boost Project Efficiency in West Africa The Central Bank of Nigeria (CBN) has called for a renewed focus on monitoring and evaluation (M&E) in project management across West Africa, highlighting its importance during a time of limited resources. The...

Cardoso Urges Fiscal Authorities to Address 'New Sources' of Inflation The Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, has called on the fiscal authorities to address new sources of inflation to complement the efforts of monetary policy in achieving price stability. In his...

‘Remittance Task Force’ to Operate Under Cardoso’s Direct Supervision - CBN The Central Bank of Nigeria (CBN) has announced the formation of a “Remittance Task Force,” a specialized team dedicated to overseeing remittances and ensuring their smooth operation. The Governor of the CBN, Yemi Cardoso, made...

How Naira Emerged World Best Performing Currency - Cardoso The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, has explained why Naira made a remarkable rebound and emerged the world’s top-performing currency in April 2024. Cardoso made this remark in a press briefing on the sidelines...