CBN interest rate cut: Central Bank slashes interest rate to 23%
The CBN interest rate cut has reduced Nigeria’s monetary policy rate from 26.5 per cent to 23 per cent. Central Bank of Nigeria Governor Olayemi Cardoso announced the decision after…
“Give Nigerians Proper Closure on N210tn NNPCL Financial Discrepancy” Obazee Tells FRC, National Assembly
………FRC urged to scrutinise NNPCL financial statements and reconcile N210tn figures as Senate continues probe into N103tn payables and N107tn receivables Jim Osayande Obazee has called on the Financial Reporting…
Credit to Private Sector Falls 15.3% to N33.9tn
Credit to the private sector fell by 15.3 per cent month-on-month (MoM) to N33.9 trillion in July 2026, down from N40.03 trillion recorded in June. The Central Bank of Nigeria…
Nigeria Nears CBN’s $1bn Monthly Diaspora Remittance Target
Nigeria is moving closer to the Central Bank of Nigeria’s (CBN) $1 billion monthly remittance target, with diaspora inflows reaching $947 million in July 2026. The latest figure puts the…
NAFEM Turnover Surges to $1.41bn as Naira Strengthens
Trading activity on the Nigerian Foreign Exchange Market rose sharply to $1.41 billion on 17 August 2026, marking its highest level in five weeks. Data from the Central Bank of…
Nigeria’s Capital Importation Surges 257% to $2.82bn
Nigeria’s capital importation jumped 256.9 per cent year-on-year to $2.82 billion in April 2026, up from $0.79 billion a year earlier, according to the Central Bank of Nigeria. The increase…
CBN Reports Higher Bank Lending, Lower Loan Defaults
Nigerian banks expanded the supply of bank lending across secured, unsecured and corporate loans during the second quarter of 2026, while loan default rates declined across all major lending categories,…
Nigeria Forex Inflows Hit Five-Month High
Total inflows into the Nigerian Foreign Exchange Market (NFEM) climbed to a five-month high of $4.36 billion in July, driven by stronger Central Bank of Nigeria (CBN) interventions and increased…
Experts Urge CBN to Maintain Monetary Policy Stability
Economic experts have urged the Central Bank of Nigeria (CBN) to maintain monetary policy stability after headline inflation eased slightly to 15.91 per cent in June 2026. The latest figure…
CBN Holds Interest Rate at 26.5 Per Cent
The Central Bank of Nigeria (CBN) has decided to keep the Monetary Policy Rate (MPR) at 26.5 per cent after the 306th Monetary Policy Committee (MPC) meeting held in Abuja…
