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 revoked the operating licences of 46 microfinance banks across the country, deepening a regulatory purge that has now shut down more than 200 community lenders in three years. The apex bank announced the decision in a statement issued on Wednesday and signed by its Acting Director of Corporate…
Nigeria’s economy remained firmly cash-driven in May 2026, as the volume of money circulating outside the banking system rose to N5.19 trillion, exposing the limits of the Central Bank of Nigeria’s years-long campaign to wean the country off physical cash. Latest money and credit statistics from the CBN showed that currency outside banks…
More than nine out of every ten naira in circulation remains outside the formal banking system despite aggressive digital payment initiatives. The latest Money and Credit Statistics released by the Central Bank of Nigeria revealed that cash held outside banks climbed to N5.19tn in May. This figure marks a steady increase from the N5.08tn recorded…
The naira opened the week on solid footing, trading at around ₦1,363.41 to the United States dollar at the official window on Monday, June 22, 2026, as the gap between the formal and street markets stayed unusually slim. The figure, drawn from the Nigerian Foreign Exchange Market, reflects the volume-weighted average that the Central…
Nigeria’s gross external reserves climbed to a major high of $51 billion, expanding the state’s financial firepower to defend the local currency. Data published by the Central Bank of Nigeria shows a massive $13.3 billion accretion over the past 12 months. This substantial fiscal cushion marks a complete turnaround from the severe depletion recorded during…
The naira weakened to N1,410 against the United States dollar in the parallel market on Thursday, easing from N1,405 a day earlier, as renewed demand pressure pushed the currency lower across both segments of Nigeria’s foreign exchange market. At the official window, the currency also lost ground. Data from the Central Bank of Nigeria…
Nigeria’s fixed-income market posted one of its strongest single sessions of the year as total turnover crossed the N1tn mark, with investors pouring capital into short-dated government paper offering near-22 per cent returns. Data from the Central Bank of Nigeria’s official Fixed Income Dashboard, released on Thursday, 4 June 2026, showed market turnover reaching…
Nigeria’s gross external reserves have climbed to a historic 17-year high of 50.12 billion dollars, recording an extraordinary 30.9 per cent expansion year-on-year. Data from the Central Bank of Nigeria shows that the current liquid buffer has reached its highest operational peak since late 2009. This massive accretion represents a substantial increase of nearly 12…
The Central Bank of Nigeria has abolished pandemic-era restrictions on personal domiciliary accounts following a notable improvement in foreign exchange liquidity. Under the new directive, individual account holders can now deposit and withdraw foreign currency freely without the rigid caps imposed during the global health crisis. The policy reversal signals growing confidence within the apex…
The Central Bank of Nigeria has launched an aggressive financial strategy to drive the country toward a one-trillion-dollar economy. Dubbed the Payments System Vision 2028, the blueprint aims to drag an additional 50 million citizens into the formal banking system. Governor Olayemi Cardoso presented the four-year roadmap in Abuja, framing electronic payment channels as vital…
