Browsing Tag
CBN
91 posts
CBN Mandates N19 Billion in Customer Refunds as Banking Complaints Grow by 11 Percent
Bank customer complaints rose by 11 percent in 2025, leading the Central Bank of Nigeria to order N19.12 billion in refunds and issue N1.69 billion in penalties to financial institutions.
Nigerian Naira exchange rates against the US Dollar: July 29, 2026
The Nigerian Naira maintained steady trading levels against the US Dollar on July 29, 2026, supported by Central Bank of Nigeria liquidity initiatives.
GFA Technologies Co-founder views CBN data localisation mandate as a driver for digital infrastructure investment
GFA Technologies Group believes the CBN's directive to localise financial data will significantly boost investment in Nigeria's digital infrastructure and data centres by 2027.
Nigerian Naira Experiences Slight Decline Against US Dollar on July 27, 2026
The Nigerian naira weakened slightly against the US dollar in the official market on Monday, while black market rates remained stable at N1,410.
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.