The Manufacturers Association of Nigeria (MAN) has urged the Central Bank of Nigeria to further cut interest rates, noting that the high cost of borrowing still hinders production and undermines competitiveness in the real sector. The association made the call while reacting to the recent decision of the Monetary Policy Committee (MPC) of the CBN …
The Nigerian naira closed the week on a negative note as it further depreciated at the official foreign exchange market on Friday, November 21. The Central Bank of Nigeria (CBN) foreign exchange data indicated that the naira exchanged for N1,456.72 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Friday. This reflects a N4.59 …
The Central Bank of Nigeria (CBN) has unveiled fresh regulatory guidelines for Point-of-Sale (POS) operators and banking agents nationwide, directing them to maintain dedicated accounts or wallets solely for agent banking transactions. The new directive, contained in the Guidelines for the Operations of Agent Banking in Nigeria (October 2025), seeks to strengthen financial oversight, improve …
