Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has called on banks to stay vigilant against emerging risks after the banking sector recapitalisation exercise, even as the Monetary Policy Committee kept the benchmark interest rate unchanged. Speaking after the MPC 305th meeting in Abuja, Cardoso said the...
Yemi Cardoso
Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) that both organisations said would safeguard consumers against fraud while opening opportunities for them to leverage the potentials of the telecommunications and financial sectors. The MoU was signed as NCC and...
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”– Olayemi Cardoso, Governor, Central Bank of Nigeria. In April 2026, Nigeria finished a major project to...
The second conference of the National Economic Council, convened on 9 and 10 February 2026, was not another calendar obligation dressed up as policy theatre. It was a working session of a federation intent on maturing. For the Federal Ministry of Budget and Economic Planning, constitutionally mandated as secretariat...
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of...
House of Representatives has directed the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to appear before its Committee on Public Accounts following revelations of more than ₦5 trillion in unremitted operating surplus and ₦11 trillion in revenues linked to the Remita collection system. The decision came...
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF), reaffirming the Bank’s commitment to strengthening Nigeria’s agricultural sector. He highlighted the Scheme’s vital role in de-risking agricultural lending since 1977 and called for a more innovative,...
Senate on Thursday demanded full transparency from the Central Bank of Nigeria (CBN) over an alleged failure to remit ₦1.44 trillion in operating surplus—an inquiry that came just as the apex bank declared that the Nigerian economy had entered its most stable period in more than ten years. During...
In a move aimed at enhancing collaboration and capacity building in central banking, the Central Bank of Nigeria (CBN) and the Bank of Angola on Thursday signed a Memorandum of Understanding (MoU) to promote bilateral cooperation. The agreement was formalised in Washington D.C., on the sidelines of the IMF/World...
Nigeria’s inflation rate has fallen to 18.02%, marking its lowest level in three years and continuing a six-month streak of decline, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso. Speaking in Washington on Thursday during the ongoing IMF and World Bank Annual Meetings, Cardoso...
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...
In a strategic move to support economic recovery, the Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points—from 27.5% to 27%—following the conclusion of the Monetary Policy Committee (MPC) meeting held on September 22 and 23, 2025. The decision, made by the...
Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has revealed that 14 banks have successfully complied with the apex bank’s revised capital requirements as part of the ongoing banking sector recapitalisation. Speaking in Abuja on Tuesday during the presentation of the communiqué from the 302nd Monetary Policy...
Central Bank of Nigeria (CBN) has set an ambitious target of achieving a $1 billion diaspora reserve by 2026, according to CBN Governor Dr. Olayemi Cardoso. Speaking at the 18th Annual Banking and Finance Conference organized by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday,...
President Bola Ahmed Tinubu said on Tuesday in Abuja that the revenue target for 2025 was achieved in August, following economic reforms focused on stimulating the non-oil sector. He said that the bulk of the revenue came from the non-oil sector. The President assured Nigerians that the Renewed Hope...
Central Bank of Nigeria (CBN) Governor, Mr. Yemi Cardoso, attributed the reduction in June’s headline inflation to stabilized energy prices and a steady foreign exchange market. Speaking in Abuja on Tuesday during the presentation of the 301st Monetary Policy Committee (MPC) communiqué, he highlighted key factors influencing the economy....
Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 27.5%. CBN Governor Yemi Cardoso, announced this on Tuesday during a press briefing in Abuja following the 301st Monetary Policy Committee (MPC) meeting. Cardoso revealed that the decision to keep the lending rate unchanged was unanimous...
Central Bank of Nigeria (CBN) and Melrose General Services have agreed to settle their legal dispute out of court. The development was disclosed by the lawyers representing both parties before Justice Mohammed Umar at the Federal High Court in Abuja. Yusuf Ali, SAN, counsel to the CBN Governor, Olayemi...