The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Central Bank of Nigeria has ordered state governments to end their addiction to overdrafts and short-term loans. This fiscal recklessness now threatens the bank’s planned shift to a rule-based inflation-targeting framework. Deputy Governor Muhammad Abdullahi warned state officials on Sunday that expansionary spending at the sub-national level blunts the edge of monetary policy. States…
The Nigerian naira maintained a cautious equilibrium against the United States dollar on Tuesday, trading at ₦1,374 in the official market. This relative stability reflects a central bank determined to pin the currency within a narrow band, even as the broader economy chafes under dollar scarcity. While the official window saw trades fluctuate between ₦1,362…
The Lagos State Special Offences Court has admitted extra-judicial statements made by Henry Omoile, the man standing trial alongside former Central Bank Governor Godwin Emefiele. Judge Rahman Oshodi ruled on Monday that Mr Omoile made his initial disclosures to investigators voluntarily. This decision allows the Economic and Financial Crimes Commission to use these documents as…
Nigerian lenders are pulling back from the central bank’s safety net. Banks and merchant banks slashed their deposits with the Central Bank of Nigeria (CBN) by 28 per cent in April 2026. This retreat follows a decision by the Monetary Policy Committee to cut the headline interest rate to 26.5 per cent. Total deposits dropped…
The Central Bank of Nigeria has finally begun to coax cash back into the vaults. Fresh data show that currency outside banks (COB) fell for the second month straight, hitting N5.19 trillion in February 2026. This dip follows a long, stubborn climb where Nigerians seemed to prefer under-mattress storage to savings accounts. Bankers will view…
Nigeria’s House of Representatives has lost patience with the country’s electricity distribution companies. Lawmakers directed eleven DISCOs on Thursday to refund ₦55.42 billion to the Central Bank of Nigeria. The money was originally a loan under the National Mass Metering Programme to fix a broken billing system. That programme began in 2020 but has failed…
Nigeria’s currency posted a marginal gain against the US dollar at the official window, supported by a sharp rise in foreign exchange turnover and improved liquidity conditions, according to latest market data. Figures released by the Central Bank of Nigeria show the naira appreciated by 0.09 per cent to close at N1,379.46 per dollar,…
The Nigerian Naira began the final week of April with muted optimism, trading at 1,352.25 per US Dollar in the official market. This marginal gain signals a brief reprieve from last week’s volatility, where rates swung between 1,350 and 1,356. Institutional investors remain cautious, balancing macroeconomic signals against persistent liquidity constraints. The Central Bank continues…
The Central Bank of Nigeria (CBN) is implementing significant reforms to the Bank Verification Number (BVN) system, effective May 1, 2026. These measures aim to curb rising fraud and secure digital financial channels. Customers must adapt to stricter protocols regarding device usage, identity verification, and account management. The apex bank is prioritising system integrity over…
The Nigerian Naira opened with a modest recovery on Tuesday morning, trading at N1,358.20 per Dollar in the official window. Early sessions at the Nigerian Foreign Exchange Market (NFEM) showed the currency oscillating within a tight band between N1,357.31 and N1,358.63. This stability follows recent central bank interventions designed to smooth out mid-month liquidity volatility….