By Seun Ibiyemi The Nigerian naira traded with relative stability on Tuesday, amid continued fluctuations in the foreign exchange market, reflecting cautious optimism driven by improving liquidity and market reforms. Latest data from market trackers indicate that the naira hovered around the ₦1,360–₦1,370 range against the United States dollar in the official Nigerian Foreign Exchange…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) says 30 banks have met the new minimum capital requirements introduced under its banking sector recapitalisation programme as the March 31 deadline approaches. The Acting Director of Corporate Communications at the apex bank, Hakama Sidi-Ali, disclosed this in a statement issued on Friday in Abuja. According…
By Seun Ibiyemi The Nigerian naira weakened further on Wednesday, March 4, 2026, as currency trading in both official and parallel foreign exchange markets reflected persistent demand pressures and liquidity stresses. In official mid-week trading at the Nigerian Foreign Exchange Market (NFEM), the naira opened around ₦1,379 per US dollar and fluctuated within a narrow…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has taken delivery of responsibly sourced gold refined to London Bullion Market Association (LBMA) Good Delivery standards into its foreign reserves, raising its total gold holdings to 3.5 billion dollars in a major push to diversify the nation’s reserve assets. In a statement issued on Wednesday,…
By Seun Ibiyemi Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says Nigeria’s net foreign exchange reserves rose to 34.80 billion dollars as at December 2025, marking a sharp increase from previous years. Cardoso disclosed this in a statement issued on Monday in Lagos at the end of the last Monetary Policy Committee…
…Says rate cut signals economic recovery … Investors lose N1.14trn as NGX reacts to MPC decision By Seun Ibiyemi Stakeholders in Nigeria’s financial and real sectors have expressed support for the decision of the Central Bank of Nigeria (CBN) to reduce the benchmark interest rate to 26.50 per cent, describing the move as timely and…
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 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…
By Adeyemi David The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has stressed the urgent need for Africa to accelerate industrialisation, create jobs, expand economic opportunities, and lift millions out of poverty while strengthening climate resilience. Cardoso made the call during his keynote address at the Egypt 30by30 Programme organised by the…
