Tag: Central Bank of Nigeria
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What to Expect from Interest Rate Cuts in 2026: Nigeria’s Path Ahead
Overview: Why 2026 Might Not Bring Quick Rate Cuts in Nigeria Economists and analysts surveyed by BusinessDay say Nigeria’s benchmark interest rate is expected to stay high through 2026, hovering above 22%. The central bank’s mandate to keep inflation under control and to preserve currency stability appears to take precedence over aggressive growth stimulation. This…
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Naira Strengthens to 1,456/$ at Central Bank FX Window
Overview: The Naira Rebounds at the Central Bank Window The Nigerian naira advanced to ₦1,456.56 per $1 at the Central Bank of Nigeria (CBN) official foreign exchange window, marking a 0.54% gain as liquidity pressures ease and FX interventions continue. The move underscores the impact of continued policy measures and currency market support aimed at…
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Naira Strengthens to ₦1,456/$ at Central Bank FX Window as Liquidity Improves
Overview: Naira Gains Ground at the Official FX Window The naira strengthened against the US dollar at the Central Bank of Nigeria (CBN) official window on Monday, trading around ₦1,456.56/$, up from the prior session. The marginal rise of about 0.54% signals easing FX liquidity pressures and growing confidence in the government’s ongoing intervention programs.…
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CBN Issues Alert: Unlicensed Zuldal Microfinance Bank Under Scrutiny
Summary of the CBN Warning The Central Bank of Nigeria (CBN) has issued a public warning about Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within the country. The notice, disseminated via the bank’s official channels, underscores the regulator’s commitment to protecting the public from fraudulent financial operators and ensuring that all…
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CBN Warns Against Unlicensed Microfinance Bank Zuldal
CBN Issues Public Warning About Unlicensed Microfinance Bank Zuldal The Central Bank of Nigeria (CBN) has disowned Zuldal Microfinance Bank Limited, labeling it an unlicensed entity operating illegally within the country. In a statement circulated publicly, the Acting Director of Corporate Communications, Hakama Sidi, underscored the regulator’s resolve to protect the financial system and Nigerian…
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CBN: Banking Recapitalisation Could Drive Nigeria’s $1 Trillion Economy Target by 2030
Overview: A Bold Economic Bet on Banking Reforms Nigeria’s central bank is underscoring a pivotal link between banking sector reforms and the country’s ambitious goal of a $1 trillion economy by 2030. The ongoing recapitalisation drive, part of broader financial sector reforms, is positioned as a catalyst to deepen credit, strengthen financial stability, and spur…