The Central Bank of Nigeria (CBN) has directed banks and payment companies to keep all payment transaction data generated in Nigeria within the country from January 1, 2027. The move is part of new measures introduced by the apex bank to make the payments industry more transparent, competitive and secure. In a circular issued on …
Nigeria's money market is witnessing one of its strongest waves of investor demand in recent years as the Central Bank of Nigeria's (CBN) aggressive Open Market Operations (OMO) strategy continues to attract both foreign and domestic capital, reinforcing the naira while tightening its grip on liquidity conditions. According to Cordros Securities' Weekly Economic and Market Update: …
The Central Bank of Nigeria (CBN) has undertaken a major leadership reshuffle, redeploying all four of its deputy governors in a move aimed at strengthening coordination across key directorates and aligning responsibilities with the bank’s evolving priorities. The changes, which took effect on June 1, 2026, were reflected in updated profiles published on the apex …
Top regulators, bank chiefs and fintech founders gathered in Abuja on Monday with a shared mission and a shared warning. Nigeria's payment system is world-class. But millions are still locked out. Here is the plan to change that and the hard questions nobody is dodging. By the time the panellists took their seats at the …
When a market woman in Onitsha taps her phone to collect payment for a bag of tomatoes, she probably does not think about monetary policy or digital ecosystems. She thinks about whether the transfer will work, how long it will take, and whether she will be charged a fee that eats into her already-thin margins. …
The Central Bank of Nigeria (CBN) on Monday unveiled the Nigerian Payment System Vision 2028 (PSV 2028), a strategic framework designed to transform the country's digital payments landscape, as top officials made clear that the real test of the vision lies not in its ambition but in its delivery. Speaking at the launch held at …
Despite the Central Bank of Nigeria’s (CBN) decision to keep its benchmark interest rate unchanged, economic experts warn that Nigeria may be staring at a prolonged period of high borrowing costs, as stubborn inflation, rising geopolitical tensions and shifting global capital flows continue to threaten growth and cloud the economic outlook. At the end of …
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria’s decision to keep interest rates unchanged, describing the outcome of the 305th Monetary Policy Committee (MPC) meeting as a balanced response to Nigeria’s inflation challenges. In a statement issued on Wednesday, May 20, Chief Executive Officer of CPPE, Dr …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, on Wednesday defended the bank’s policy direction on inflation, foreign exchange management, SME financing, banking recapitalisation, customer complaints and external reserves, insisting that recent economic pressures stem largely from external shocks and that ongoing reforms remain on course. Speaking while responding to journalists’ questions …
The Central Bank of Nigeria (CBN) has retained its benchmark interest rate at 26.5 per cent, as policymakers weighed moderating inflation, stronger external reserves and growing global economic uncertainties. CBN Governor, Olayemi Cardoso, announced the decision on Wednesday at the end of the two-day 305th meeting of the Monetary Policy Committee (MPC) in Abuja. The …
