Tag: CBN
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CBN Targets Excess Bank Funds With N2tn OMO Offer
By Opeyemi Adelakun The Central Bank of Nigeria (CBN) is seeking to absorb excess funds from the banking system through a fresh N2tn Open Market Operations (OMO) bills offer, following a surge in liquidity to N6.283tn. Data from the Financial Markets Dealers Association showed that banking system liquidity rose from N3.709tn to N6.283tn in the…
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SERAP Sues CBN Over $6.23m Election Funds, N1.63tn Other
By Opeyemi Adelakun The Socio-Economic Rights and Accountability Project (SERAP) has sued the Central Bank of Nigeria (CBN), seeking explanations for $6.23m in election-related funds and more than N1.63tn in other public funds flagged in the Auditor-General of the Federation’s 2023 annual report. The organisation is asking the Federal High Court in Abuja to compel…
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Emefiele Trial: N124.86bn CBN Withdrawal Was Unknown To Finance Ministry, Witness Says
By Opeyemi Adelakun A Federal Ministry of Finance director has testified that the ministry and the Office of the Accountant-General of the Federation had no knowledge of a N124.86 billion withdrawal from the Central Bank of Nigeria. The official, Ali Mohammed, appeared before the Federal Capital Territory High Court in Maitama on Tuesday as the…
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Terror Financing: CBN Places Banks Under Tighter Regulatory Watch
By Opeyemi Adelakun Nigeria’s banking and financial system is coming under tighter regulatory scrutiny as the Central Bank of Nigeria intensifies efforts to block the movement of funds linked to terrorism and other illicit activities. The CBN announced that it had elevated terrorism-financing supervision to a current supervisory priority, signalling increased attention to the systems…
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Cash in Circulation Climbs to ₦5.73tn as CBN Prints 3.43bn Naira Notes
By Opeyemi Adelakun Nigeria’s currency in circulation increased to ₦5.73 trillion in 2025, up from ₦5.44 trillion recorded in the previous year, following the production of 3.43 billion naira notes by the Central Bank of Nigeria (CBN) to meet growing demand for cash. The figures are contained in the apex bank’s 2025 Annual Report, which…
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Nigeria’s Debt Securities Rise to N175.46tn in 12 Months – CBN
By Opeyemi Adelakun Nigeria’s debt securities grew by 14.47 per cent to N175.46 trillion in 2025, driven largely by increased Federal Government borrowing to finance budget deficits, according to the Central Bank of Nigeria (CBN). The apex bank, in its 2025 Annual Report, said the country’s debt securities expanded by N22.13 trillion, rising from N153.28…
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JUST IN: CBN Holds Benchmark Interest Rate at 26.5%
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent, maintaining its current monetary policy stance. The decision was announced on Tuesday at the conclusion of the 306th meeting of the Monetary Policy Committee (MPC), held in Abuja over two days. All 11…
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CBN Revokes Licences of 46 Microfinance Banks
By Opeyemi Adelakun The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks with immediate effect over their failure to comply with regulatory requirements.The apex bank announced the decision in a statement issued on Wednesday by its Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali. According to the CBN, the…
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CBN Directs Banks, Fintechs to Disclose Beneficial Owners, Tighten Payment System Rules
By Opeyemi Adelakun The Central Bank of Nigeria (CBN) has issued a new directive requiring banks, fintech companies, and other licensed payment service providers to disclose their ultimate beneficial owners as part of fresh regulatory reforms targeting the country’s digital financial ecosystem. The directive was contained in a circular dated June 15, 2026, signed by…
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NiMet, CBN Sign Landmark Data-Sharing Agreement to Strengthen Economic Planning
By Paul Joseph The Nigerian Meteorological Agency and the Central Bank of Nigeria have signed a landmark Memorandum of Understanding aimed at strengthening data sharing and improving economic decision-making in Nigeria. The agreement was signed on Wednesday at the headquarters of the Central Bank of Nigeria in Abuja, with officials from both institutions describing the…
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Igbo Youths Want Jobs In NNPC, CBN, Customs, Not Military – Human Rights Lawyer
By Paul Joseph Human rights lawyer Aloy Ejimakor has urged the Federal Government to prioritise employment opportunities for South-East youths in key federal institutions rather than expressing concern over their low enlistment in the Nigerian military. Ejimakor specifically called for increased recruitment of Igbo youths into agencies such as the Central Bank of Nigeria (CBN),…
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EFCC arrests Kannywood star Samha Inuwa over alleged naira abuse
By Ashiru Taofeek Adewale The Kano Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), on Tuesday, February 3, 2026, arrested a Kannywood Star, Samha Inuwa, over alleged Naira mutilation. Naija News reports that Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from…