Sunday, 2 November 2025

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Nigerian Govt replies Trump over alleged Christian killings

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Business

CBN clarifies $1.259bn figure represents market trades, not direct allocation to oil operators

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  • October 29, 2025
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The Central Bank of Nigeria has firmly rejected claims that it directly provided $1.259 billion to petroleum industry players, explaining that the mentioned amount reflected market-based foreign currency dealings executed by participants in the Nigerian Foreign Exchange Market. Through a Tuesday statement issued by CBN communications officer Hakama Ali, the nation’s banking regulator described news […]

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Business

CBN report shows 52% decline in medical tourism spending

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  • October 24, 2025
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Nigerians spent about $4.74m on foreign healthcare-related services from May 2023 to March 2025. This is according to the latest Quarterly Statistical Bulletin of the Central Bank of Nigeria. The amount represents spending during President Bola Tinubu’s first 22 months in office. A comparative analysis of the data shows that Nigerians spent $4.74m on medical […]

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National News

CBN mandates banks to reverse failed ATM withdrawals in 48 hours

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  • October 11, 2025
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The Central Bank of Nigeria has directed Deposit Money Banks and other financial institutions to refund customers for failed Automated Teller Machine transactions within 48 hours, in a sweeping reform aimed at protecting consumers and restoring confidence in the banking system. The directive is contained in a draft guideline released by the apex bank on […]

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Business

Explainer: What the new CBN agent banking guidelines mean for Nigeria’s economy, stakeholders

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  • October 7, 2025
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The Central Bank of Nigeria (CBN) has unveiled a new set of operational guidelines for agent banking. This is a rapidly growing arm of Nigeria’s financial services ecosystem. The policy, released on Monday, introduces stricter compliance requirements, transaction limits, and enhanced consumer protection measures aimed at improving oversight and deepening financial inclusion. At the heart […]

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Business

CBN slashes lending rate to 27% in fresh policy shift

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  • September 23, 2025
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The Central Bank of Nigeria’s Monetary Policy Committee has reduced the interest rate by 50 basis points, from 27.5 per cent in July to 27 per cent. This followed the decision of the 12 members of the Committee at its 302nd meeting held on September 22nd and 23rd, 2025. The asymmetric corridor around the MPR […]

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Business

CBN urges Nigerians to handle Naira with integrity, declares it one of the strongest currencies in the world

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  • August 14, 2025
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The Central Bank of Nigeria (CBN) says the naira is one of the strongest currencies in the world, urging Nigerians to handle with integrity. The CBN said this when it hosted its flagship sensitisation event, the CBN Fair, in Lagos, in a bid to reinforce public trust in Nigeria’s currency and deepen financial inclusion, spotlighting […]

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