By Seun Ibiyemi The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has disclosed that 13 banks are yet to meet the new minimum capital requirement under the ongoing bank recapitalisation programme. Cardoso made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has reduced the Monetary Policy Rate (MPR) by 50 basis points, lowering the benchmark interest rate from 27 per cent to 26.5 per cent in what analysts describe as a significant shift in monetary strategy. The decision was taken at the 304th meeting of the apex…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) intervened in the foreign exchange market last week, purchasing about $190 million to moderate the naira’s rapid appreciation at the official window. The move followed a strong rally by the local currency, which had appreciated significantly before retreating during the final three trading sessions that ended…
By Seun Ibiyemi Sustainability has taken centre stage in Nigeria’s corporate landscape, with FirstBank of Nigeria Limited reinforcing its leadership in Environmental, Social and Governance (ESG) practices through major investments in renewable energy, financial inclusion and environmental conservation. As climate change, social inequality and economic uncertainties continue to shape global discourse, the bank said it…
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has cautioned that Nigeria’s strong rebound in capital importation may prove fragile if structural weaknesses in the economy are not urgently addressed. In a statement issued on Sunday by Chief Executive Officer of the CPPE, Dr Muda Yusuf, read that total capital inflows into…
By Seun Ibiyemi The Nigerian naira showed a mixed performance in foreign exchange markets over the weekend ending Friday, February 20, 2026, as differing dynamics in the official and parallel segments shaped its trajectory. Data from market sources on Friday showed that the naira appreciated in the parallel (informal) market, strengthening to about ₦1,340 per U.S….
By Seun Ibiyemi Nigeria’s total public debt increased to N153.29tn as of September 30, 2025, reflecting a steady rise in both domestic and external borrowings within three months, according to data released by the Debt Management Office on Friday. The DMO disclosed that the debt stock grew from N152.40tn as of June 30, 2025, to…
Ecobank Nigeria has announced the full repayment of its $300 million eurobond, including both the outstanding principal and accrued interest, originally due on February 16, 2026. The repayment marks a major milestone in the bank’s liability management strategy and efforts to strengthen its balance sheet. Following the successful repayment, Ecobank Nigeria said it will prioritize…
By Seun Ibiyemi The Nigerian currency, the naira, recorded a mixed performance in trading on Thursday, as data from the foreign exchange market showed differing movements across official and informal channels. According to Central Bank of Nigeria (CBN) data, the naira weakened marginally at the official foreign exchange window, closing at around ₦1,340 – ₦1,341…
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has urged developing economies to pursue coordinated reforms in digital cross-border payments to drive inclusive growth, enhance financial stability, and deepen global financial integration. Speaking at the 2026 G-24 Technical Group Meetings (TGM) in Abuja, Cardoso stressed that efficient and modern payment systems…
