By Seun Ibiyemi The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent for the second consecutive meeting, citing renewed geopolitical tensions in the Middle East and lingering inflationary pressures. The decision was announced by the…
By Seun Ibiyemi The Chartered Institute of Bankers of Nigeria (CIBN) has projected that the Central Bank of Nigeria (CBN) will retain the Monetary Policy Rate (MPR) at 26.5 per cent as the Monetary Policy Committee (MPC) begins its 306th meeting in Abuja on Monday. President and Chairman of the Council of CIBN, Dr Dele…
By Seun Ibiyemi The naira traded with relative stability against the United States dollar on Thursday, maintaining the cautious gains recorded in recent weeks as ongoing reforms by the Central Bank of Nigeria (CBN), improved foreign exchange liquidity and renewed investor confidence continued to shape the country’s currency market. Despite lingering pressure from import demand…
By Seun Ibiyemi Nigeria’s three tiers of government shared a total of N2.550 trillion from the Federation Account in June 2026, following the conclusion of the July meeting of the Federation Account Allocation Committee (FAAC) in Abuja. The Director of Press and Public Relations at the Office of the Accountant-General of the Federation, Bawa Mokwa,…
By Seun Ibiyemi Guaranty Trust Bank Ltd (“GTBank” or the “Bank”), the flagship banking subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), has been named the Best Overall Performing Bank in Nigeria in The Banker magazine’s Top 1000 World Banks Rankings 2026. The recognition reaffirms GTBank’s position as one of Nigeria’s leading…
By Seun Ibiyemi The Nigerian naira recorded a mixed performance across segments of the foreign exchange market on Monday as traders and investors weighed the impact of improved dollar liquidity against persistent demand pressures and global economic uncertainties. At the Nigerian Foreign Exchange Market (NFEM), the local currency continued to trade within a relatively stable…
By Seun Ibiyemi The Naira maintained relative stability across the foreign exchange market in the week ended July 10, 2026, as improved liquidity in the official window and sustained interventions by the Central Bank of Nigeria (CBN) helped cushion the local currency against mounting demand pressures. At the Nigerian Foreign Exchange Market (NFEM), the naira…
By Seun Ibiyemi Investors on the Nigerian Exchange (NGX) traded a total of 3.64 billion shares valued at N220.56 billion during the week, representing a significant increase in turnover value amid renewed buying interest across key sectors of the market. According to the NGX weekly market report, the value of transactions surged by 42.9 per…
By Seun Ibiyemi The naira traded largely stable against the United States dollar at the Nigerian Foreign Exchange Market (NFEM) on Wednesday, supported by sustained foreign exchange reforms and improved market liquidity despite lingering demand pressures in the parallel market. Official market data showed the local currency closed at ₦1,372.96/$, maintaining its recent stability as…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has warned banks, businesses and members of the public against rejecting the standard ₦100 banknote, reaffirming that both the regular and commemorative versions of the denomination remain legal tender across the country. The apex bank issued the warning in a statement signed by its Acting Director…
