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The global appetite for Nigerian bank stocks is returning. The Central Bank of Nigeria (CBN) has revealed that offshore sources provided 28% of the total funds raised in the ongoing bank recapitalisation exercise. Hakama Sidi-Ali, the CBN’s Acting Director of Corporate Communications, shared these figures on Friday at the Enugu International Trade Fair. She argued…
Nigeria has effectively ended the era of fiscal dominance. Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, announced on Thursday that the federal government’s “Ways and Means” debt has crashed to N2.84 trillion. This represents a massive reduction from the N26.95 trillion inherited by the current administration. Speaking at the Monetary Policy Forum in Abuja,…
The Central Bank of Nigeria has been awarded Central Bank of the Year by London-based Central Banking magazine, following a series of monetary reforms credited with stabilising the Nigerian economy after years of macroeconomic distortions. The recognition centres on policy changes introduced under Governor Olayemi Cardoso, who assumed office in October 2023 amid mounting…
The Nigerian Naira strengthened against the US Dollar on Friday, 20 March 2026, supported by a significant recovery in the nation’s external buffers. In the Nigerian Foreign Exchange Market (NFEM), the currency opened at an average of N1,352.89 per dollar, a slight gain from the mid-week average of N1,357. This appreciation follows the Central Bank…
The Nigerian Naira sustained a stable performance against the United States Dollar on Thursday, maintaining its position within a narrow trading band as the foreign exchange market continues to benefit from surging global crude oil prices and a historic accumulation of external reserves that has reached levels unseen in over a decade. Data from…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that Nigeria’s economy has successfully transitioned from a period of stabilisation to one of capital mobilisation. Speaking on Wednesday at the Africa Capital Forum in London, held on the sidelines of President Bola Tinubu’s state visit to the United Kingdom, Mr. Cardoso…
Governor of the Central Bank of Nigeria, Olayemi Cardoso, has expressed confidence that the country’s ongoing macroeconomic reforms have fortified the economy against potential shocks from escalating geopolitical tensions in the Middle East, particularly the evolving crisis involving the United States, Israel and Iran. Cardoso made the assertion on Wednesday while delivering a Distinguished…
The Central Bank of Nigeria (CBN) has confirmed that 30 banks have successfully met the new minimum capital thresholds ahead of the March 31 deadline. Mrs. Hakama Sidi Ali, the Acting Director of Corporate Communications, disclosed on Friday that 33 lenders have raised fresh capital through rights issues, private placements, and initial public offerings. The…
Nigeria’s foreign reserves received a notable addition as the Central Bank of Nigeria incorporated responsibly sourced gold refined to international standards, elevating its total gold holdings to $3.5 billion and advancing efforts to diversify away from traditional assets amid global economic shifts. The move, part of an ongoing reserve diversification strategy, involves gold aggregated…
Nigeria’s net foreign exchange reserves have climbed by 772 per cent in two years, marking a sharp recovery in the country’s external buffers. Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, revealed on Monday that net reserves rose from a lowly $3.99 billion at the end of 2023 to $34.80 billion by December 2025. This…
