Nigeria bank recapitalisation N4.65 trillion has been mobilised by 33 banks that met the new minimum capital requirements. Nigeria bank recapitalisation N4.65 trillion was confirmed by the CBN after the exercise closed. Slightly more than 70 percent of the funds came from domestic investors with the balance from foreign sources. The process strengthens the capacity…
Naira appreciates October 2026 official rate to N1333.65 per dollar on 20 October 2026. Naira appreciates October 2026 official rate shows the naira strengthened slightly on 20 October 2026 in the official foreign exchange market. It closed at N1333.65 to the dollar, a 0.01 percent gain. The parallel market average stayed near N1370. The spread…
Nigeria remittance inflows IMTO 2026 hit 947 million dollars in July nearing the Central Bank one billion dollar monthly target. Nigeria remittance inflows IMTO 2026 strengthened sharply with July recording 947 million dollars the highest monthly figure through formal channels and close to the Central Bank one billion dollar monthly target. First seven months of…
CBN ways and means reduction brought advances to the federal government down nearly 90 percent from 26.95 trillion naira in 2023 to 2.84 trillion naira in January 2026. CBN ways and means reduction brought advances to the federal government down nearly 90 percent from 26.95 trillion naira in 2023 to 2.84 trillion naira in January…
Single digit inflation Nigeria is the clear medium-term target set by the Central Bank of Nigeria. Governor Olayemi Cardoso reaffirmed on the sidelines of the IMF and World Bank meetings in Bangkok that the bank will maintain a tight monetary stance until inflation falls into single digits. Speaking to investors, Cardoso said the reason the…
CBN cuts interest rate to 23 percent. That was the headline that hit banks, traders and borrowers on Tuesday 22 September 2026. The Monetary Policy Committee of the Central Bank of Nigeria cut the Monetary Policy Rate from 26.5 percent to 23 percent after its 307th meeting in Abuja. That is a cut of 350…
