Central Bank of Nigeria
CBN Moves to Revive eNaira for Wider Digital Currency Adoption
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to reviving the eNaira project, pledging fresh reforms and aggressive public awareness campaigns to drive its adoption and deepen financial inclusion across the country. Launched in October 2021, the eNaira — Nigeria’s Central Bank Digital Currency (CBDC) — was a pioneering move on the African […]
Banks’ H2 Outlook Rides on Recapitalisation, Dividend Hopes
As the second half of 2025 unfolds, Nigerian banks are entering a critical phase in their growth and stability journey. Industry analysts and investment experts forecast that the banks’ performance during this period will be largely driven by two major factors: their progress in meeting the Central Bank of Nigeria’s (CBN) recapitalisation directive and their […]
CBN Suspends Dividends, Foreign Investments for Underperforming Banks
A step to fortify Nigeria’s banking system and promote financial stability, the Central Bank of Nigeria (CBN) has issued a directive halting dividend payments, director bonuses, and new offshore investments by banks under regulatory forbearance. The move, which primarily affects lenders such as First Bank, is part of broader efforts to rebuild capital buffers in […]
Nigeria Shells Out $2bn on External Debt in Just Four Months
Nigeria’s external debt servicing has surged dramatically in the first four months of 2025, with the country spending approximately $2.01 billion on external debt repayments between January and April. This marks a 50 percent increase compared to the $1.33 billion spent during the same period last year, according to the latest international payments data published […]
Orthodox Monetary Approach by CBN Alters Nigeria’s Liquidity Flow
The Central Bank of Nigeria (CBN) has begun reaping the early fruits of its return to orthodox monetary policy, with improved reserve buffers and a modest return to profitability in 2024. However, beneath the surface of this institutional shift lies a sobering picture: soaring liquidity management costs, derivative settlement losses, and mounting operational expenses continue […]
Naira Surges to N1,600 Against Dollar, Hits Weekly High
The Nigerian naira has experienced a significant boost in the official foreign exchange market, reaching its highest value against the US dollar in recent weeks. On Monday, May 13, 2025, the naira closed at N1,600.44 to the dollar, marking an appreciation from its previous rate of N1,606.15 recorded at the close of trading on Friday, […]
CBN Splashes N306bn on Severance, Staff Costs
The Central Bank of Nigeria (CBN) has confirmed that it spent a staggering N306.63 billion on staff-related expenses in 2024, marking an unprecedented spike of over 700% from the N37.7 billion recorded in the previous year. This massive outlay was primarily driven by severance payments and staff benefits under its Early Exit Programme (EEP), as […]