# Tags

Nigeria’s External Reserves Hit 13-Year High of $50.45bn, Says CBN Governor

Nigeria’s gross external reserves climbed to $50.45 billion as of 16 February 2026, marking their highest level in 13 years, according to the Governor of the Central Bank of Nigeria, Dr. Olayemi Cardoso. Cardoso disclosed this on Tuesday while addressing journalists at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja. […]

CBN Removes Cash Deposit Limits, Raises Weekly Withdrawal Cap to N500,000

The Central Bank of Nigeria (CBN) has removed cash deposit limits and increased the weekly cash withdrawal threshold from N100,000 to N500,000. The policy changes were contained in a circular issued to all banks and other financial institutions, signed by Dr. Rita Sike, Director, Financial Policy and Regulation Department. Dr. Sike said the revisions formed […]

FCCPC Endorses CBN’s 48-Hour Refund Policy for Failed ATM Transactions

The Federal Competition and Consumer Protection Commission (FCCPC) has endorsed the Central Bank of Nigeria’s (CBN) draft guidelines mandating banks to refund customers for failed Automated Teller Machine (ATM) transactions within 48 hours. In a statement issued in Abuja on Monday, the FCCPC’s Director of Corporate Affairs, Mr Ondaje Ijagwu, said the proposed guideline followed […]

CBN Mandates Geo-Tagging of All PoS Terminals by October 20

The Central Bank of Nigeria (CBN) has directed that all Point-of-Sale (PoS) terminals nationwide be geo-tagged within the next 60 days. In a statement dated 26 August 2025, the apex bank said the move is part of efforts to curb fraud and strengthen oversight of digital payments. It also forms part of a broader strategy […]

CBN Keeps Interest Rates Unchanged to Tame Inflation

The Central Bank of Nigeria (CBN) has left all key monetary policy parameters unchanged, citing the need to consolidate recent gains in reducing inflation. Following a two-day meeting, the Monetary Policy Committee (MPC) retained the Monetary Policy Rate (MPR) at 27.5 per cent, with the asymmetric corridor at +500/-100 basis points. The Cash Reserve Ratio […]

CBN Launches NRBVN to Ease Diaspora Access to Nigerian Banking Services

The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), has launched the Non-Resident Bank Verification Number (NRBVN) platform, enabling Nigerians in the diaspora to obtain a BVN remotely without needing to be physically present in Nigeria. Unveiled on Tuesday in Abuja, the digital initiative aims to support the CBN’s […]

Nigeria’s Foreign Reserves Surge to Three-Year High, Hits $23bn

Nigeria’s Net Foreign Exchange Reserves (NFER) stood at $23.11 billion by the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria (CBN). This figure represents a sharp rise from $3.99 billion at the end of 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The […]

External Debt: High Cost of Servicing Straining Revenue – CBN

The Central Bank of Nigeria (CBN) has revealed that external debt servicing cost the country approximately $5.47 billion between January 2024 and February 2025, exacerbating the strain on national revenue, foreign reserves, and fiscal stability. Additionally, total foreign exchange direct remittances rose by 1.3% year-on-year (YoY) to $180.03 million in the first two months of […]

  • 1
  • 2
Social Media Auto Publish Powered By : XYZScripts.com