The Nigerian banking sector is undergoing significant recalibration to support the ambitious goal of growing the economy to the $1 trillion target. From recapitalisation, prudential guidelines, foreign exchange reform, liquidity management, and monetary policy support, the Central Bank of Nigeria (CBN) has also thrown its hat into the race to achieve the $1 trillion economy target.

To strengthen its operations and regulatory oversight, the Central Bank of Nigeria (CBN) recently followed a rigorous path, which included engaging the services of a global consultancy firm, PricewaterhouseCoopers (PwC)

Notwithstanding the ban on cryptocurrency trading by the Central Bank of Nigeria (CBN), between July 2023 and June 2024, Nigeria is said to have contributed an estimated $59 billion to the virtual currency.

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions.

Nigeria’s economy is currently navigating through a landscape marked by numerous challenges. At the forefront of addressing these issues is the Central Bank of Nigeria (CBN), which has taken on a crucial role in stabilising the nation’s economy amidst these turbulent times.

This write up is essentially a lamentation on how banking values and principles have changed for the worse since the entry of new generation banks to the industry in the late 1980s and early 1990s, when the regime of General Ibrahim Babangida liberalised banking business.

Despite the Central Bank of Nigeria's prohibition in February 2021 on banks and financial institutions facilitating cryptocurrency transactions, the swift adoption of cryptocurrencies in Nigeria has presented both opportunities and challenges. While digital currencies can enhance financial inclusion, spur economic innovation, and improve remittance processes, their pseudo-anonymity and decentralized nature have rendered them susceptible to…

The Wuse Zone 4 FX Traders Association is set to inaugurate a parallel FX market forum and its leadership in Abuja. The launch of the association is slated for January 15, 2025 at the Shehu Musa Yar’Adua Centre in the Nigerian capital. Key events for the day include the inauguration of newly elected executive council…

The Central Bank of Nigeria (CBN) has violated the provisions of the CBN Act by withholding its annual reports. When The Guardian reviewed the CBN website on Monday morning, it was discovered that the apex bank had published financial documents for only eight years between 2000 and 2016. Financial statements for 2002, 2003, 2004, 2005,…

Lagos Special Offences Court, Ikeja, has fixed January 7, 2025, to rule on an application filed by the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, challenging the court’s jurisdiction over his case.

More than a year after the Supreme Court ruled that the new and old naira notes can co-exist, transiting to the new notes has remained an endless wait, a development, which many fear could spur counterfeiting

The Nigeria Labour Congress (NLC) has vowed to withdraw the services of its members from all duties if the Federal High Court judgment that barred the Central Bank of Nigeria