The Central Bank of Nigeria (CBN) has announced that mobile money operators, including fintech firms such as OPay, Palmpay, Kuda Bank, and Moniepoint, will be able to resume the enrolment of new customers in the coming months. This announcement was made by CBN Governor Olayemi Cardoso during the 295th Monetary Policy Committee (MPC) meeting, where … Read more
The Governor of the Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, said on Wednesday that the apex bank is not defending the Naira with the nation’s foreign reserves. Cardoso was speaking against the backdrop of the recent decline in Nigeria’s foreign reserves corresponding with massive appreciation of the Naira in the foreign exchange market … Read more
The Central Bank of Nigeria (CBN) said it has concluded a sale of government securities, issuing N1.053 Trillion (US$680 million) in short-term instruments as part of its liquidity management exercise. In a statement on Monday, the apex bank said investors were over-subscribed for the exercise which was completed on March 1, 2024. The CBN offered … Read more
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has explained that the move to relocate departments and personnel in the bank’s headquarters in Abuja to other branches is due to “overpopulation”. Cardoso spoke on Monday during an interview on Arise Television. When asked if the CBN headquarters is over-populated, Cardoso said: “It is over-populated” adding … Read more
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, said that the apex bank is working to reduce the headline inflation rate to 21.4 per cent this year. Cardoso gave this assurance in a keynote address at the launch of the Nigeria Economic Summit Group 2024 Economic Outlook report. The inflation rate … Read more
The value of the naira had dropped to never-before-seen lows, affecting all aspects of life and driving inflation in the country to decades-high levels. The naira’s value has risen from N450 to the dollar at the official end and N750 to the dollar at the parallel market to selling at N1200 on the streets and … Read more