Central Bank of Nigeria

Sterling HoldCo has appointed two directors to its board following regulatory approval from the Central Bank of Nigeria (CBN). The financial institution confirmed the appointments in its statement.

The Monetary Policy Committee (MPC) of Nigeria's Central Bank warned that election-related fiscal spending ahead of the 2027 general elections could reverse progress in reducing inflation. Excess liquidity from political spending is seen as a threat to the effectiveness of monetary policy.

UBA announced Tony Elumelu's retirement and appointed Emmanuel Nnorom as chairman. The retirement aligns with the Central Bank of Nigeria's corporate governance guidelines limiting non-executive directors' tenure to 12 years.

Jim Obazee accused Buhari, Boss Mustapha, Bashirudeen Maishanu, and former CBN board members of a $6.23m cash withdrawal, urging they face prosecution similar to Emefiele. Obazee claimed the same legal action applied to Emefiele should extend to these individuals.

A court has urged the parties in a N98.5bn patent suit against the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS) to explore an amicable settlement. The judge highlighted the Federal High Court Act's provisions encouraging such resolutions and called for good faith negotiations.

The Nigerian Deposit Insurance Corporation (NDIC) has started paying depositors after the Central Bank of Nigeria (CBN) revoked the licenses of 46 microfinance banks. The affected banks are no longer authorized to operate as licensed financial institutions in Nigeria.

The Central Bank of Nigeria (CBN) revoked the licences of 46 microfinance banks. Kano State had the highest number of revoked licences with 13 banks, followed by Lagos with 8.

The Central Bank of Nigeria (CBN) and the trade ministry discussed AfCFTA trade reforms at a Citibank forum. CBN Deputy Governor Lamido Yuguda emphasized the importance of efficient financial intermediation for the success of intra-African trade under AfCFTA.

OPay is recognized as a key enabler of Nigeria's push for financial inclusion, supporting the country's goal of 95% access by 2028 under the Central Bank of Nigeria’s Payment System Vision 2028.

Jaiz Bank faced regulatory penalties totaling N530.9 million in 2025 due to breaches including anti-money laundering failures, customer due diligence violations, and filing infractions. The sanctions were imposed by the Central Bank of Nigeria (CBN) and the Nigerian Exchange Group (NGX).

President Bola Ahmed Tinubu announced the end of fuel subsidies shortly after taking office on 29 May 2023, initiating economic reforms including unifying exchange rates through the Central Bank of Nigeria and implementing fiscal and monetary adjustments to stabilize the economy.

The Central Bank of Nigeria (CBN) has ordered banks and fintechs to disclose their owners and store payment data within Nigeria. The move aims to promote transparency, reduce market concentration risks, and enhance the resilience of the country's payments ecosystem.

Yemi Cardoso has led the Central Bank of Nigeria (CBN) to global acclaim through significant achievements despite initial challenges and economic turbulence. The CBN's progress under his leadership is highlighted as remarkable in a period of uncertainty.

The Central Bank of Nigeria (CBN) is revising rules governing financial holding companies due to the need for an overhaul after years of using the 2014 framework. The existing framework was designed to mitigate risks from non-core banking activities within banking groups.

Cardoso received the 2026 Central Banking Central Bank of the Year Award in London. He dedicated the award to the Central Bank of Nigeria's board, management, and staff for their commitment to institutional reforms and economic stability.

The Central Bank of Nigeria (CBN) has proposed new regulations to establish clear operational and functional boundaries among closely linked financial entities. The guidelines aim to ring-fence these operations within the financial system.

A committee in the House of Representatives recovered ₦521.8 million in VAT from the Central Bank of Nigeria (CBN) following an investigation into revenue leakages and non-compliance with procedures related to the Remita payment platform. The panel is also pursuing an additional ₦33 billion in claims.

Paga, a Nigerian fintech company, has partnered with Sui blockchain to expand into cryptocurrency infrastructure, aiming to provide financial freedom and access to global markets for Africans. The partnership will focus on stablecoin products and tokenized assets. This move marks a significant push into cryptocurrency for Paga.

Nigeria's dollar reserves are declining, prompting the Central Bank of Nigeria to defend the naira's value. The article highlights currency market dynamics in Abuja, where electronic payment terminals are used alongside physical naira notes.