Browsing Tag
CBN
67 posts
Nigerian Naira exchange rates for July 27, 2026
The Nigerian naira remained stable against the US dollar on July 27, 2026, with official and parallel market rates showing continued convergence due to ongoing central bank reforms.
Concerns mount over CBN exit from manufacturing credit support
The CBN's decision to stop direct funding for manufacturers has sparked alarms over a widening credit gap and potential decline in industrial production during a difficult economic period.
Naira Gains Value Against Dollar in Official and Parallel Markets on July 24, 2026
The Nigerian naira saw consistent growth against the US dollar on July 24, 2026, rising in both formal bank channels and the black market as national foreign reserves hit $52.02 billion.
Central Bank of Nigeria falls behind on mandatory annual financial report disclosures
The Central Bank of Nigeria has not published audited financial statements since 2022, effectively ignoring statutory requirements under the CBN Act.
Nigeria Foreign Exchange Reserves Reach $52.73 Billion, Says CBN Governor
Central Bank Governor Olayemi Cardoso announced that Nigeria's external reserves have grown to $52.73 billion, while also reporting success in the recent banking recapitalization exercise.
CBN Governor Olayemi Cardoso Affirms Economic Stability Amid Global Headwinds
CBN Governor Olayemi Cardoso defends Nigeria's economic resilience during a Senate hearing, while Finance Minister Taiwo Oyedele addresses controversy surrounding national debt figures.
Senate moves to force NNPCL, CBN, and other agencies to account for missing revenue
The Senate is taking legislative action to force various government agencies, including the NNPCL and CBN, to explain failures in remitting revenue to the Consolidated Revenue Fund.
CBN Governor Links Low Circulation of N100 and N200 Notes to Digital Shift
Governor Olayemi Cardoso asserts that N100 and N200 notes are still legal tender, attributing their reduced visibility to the expansion of digital payments and the effects of inflation on purchasing power.
Atiku Abubakar Demands Tinubu’s Resignation Over PFIPC Account Scandal
Atiku Abubakar has called on President Tinubu to apologize and resign, citing a massive credibility crisis following contradictory statements from the CBN and OAGF regarding the PFIPC scandal.
Central Bank of Nigeria keeps interest rate at 26.5% amid geopolitical concerns
The CBN has held its benchmark interest rate at 26.5% citing global risks linked to Middle East tensions, while reporting that external reserves have grown to $52.5 billion.