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CBN: Early Exit Package Voluntary, Not Targeted At Northerners

The Central Bank of Nigeria (CBN) has reiterated that its Early Exit Package (EEP), implemented in 2024, was entirely voluntary and not aimed at targeting or destabilising Northern staff. CBN’s Deputy Governor in charge of Economic Policy, Muhammad Abdullahi, made this clarification on Wednesday in Kaduna at a two-day Interactive Session on Government-Citizen Engagement, organised…

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CBN Maintains Lending Rate At 27.5%

The Central Bank of Nigeria (CBN) has, once again, kept its key lending rate, known as the Monetary Policy Rate (MPR), at 27.5 per cent. The Governor of CBN, Yemi Cardoso, announced the decision on Tuesday in Abuja, following the 301st Monetary Policy Committee (MPC) meeting. Cardoso said that all 12 MPC members voted unanimously…

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Stanbic IBTC Holdings Raises N148.7bn, Exceeds CBN’s Recapitalisation Benchmark

Stanbic IBTC Holdings Plc has successfully concluded its Rights Issue, raising N148.7 billion—exceeding the Central Bank of Nigeria’s (CBN) recapitalisation requirement. In a statement issued on Tuesday, the bank said the offer recorded an impressive oversubscription rate of 21.9 per cent, underscoring strong investor confidence and shareholder support. The capital raise, described as a strategic…

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CBN Ends Pandemic Forbearance, Orders Banks To Deliver Capital Plans By Mid-July

Nigeria’s Central Bank has instructed banks to submit comprehensive Capital Restoration Plans by 14 July 2025, formally ending financial relief measures that were introduced to cushion the sector during the COVID-19 pandemic. In an official circular dated 20 June 2025, signed by Director of Banking Supervision Dr Olubukola Akinwunmi, the CBN set out a clear…

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IMF Lauds CBN’s Reforms On Economic Recovery

The International Monetary Fund (IMF) has commended the Central Bank of Nigeria (CBN) over its monetary policy reforms, which are significantly contributing to the nation’s economic recovery. IMF gave the commendation was its 2025 Article IV Consultation report on Nigeria. The fund commended the Federal Government for bold and politically difficult policies that had improved…

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Alleged Judgment Disregard: Hearing In Contempt Proceeding Against CBN Governor Stalled

Hearing in the contempt proceeding against the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged disobedience to a Supreme Court judgment was, on Monday, stalled at the Federal High Court in Abuja. The development occured following an oral application by C.E. Odum, who appeared for the applicant, Melrose General Services Limited, seeking an…

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CBN’s Suspension Of Banks’ Dividend May Cause Stock Market Volatility – ASHON

The Association of Securities Dealing Houses of Nigeria (ASHON) has expressed concern over the Central Bank of Nigeria’s (CBN’s) recent circular temporarily suspending dividend payments by banks. Mr Sam Onukwue, Chairman of ASHON in a statement on Tuesday, said that the directive, issued June 13, was said to ensure compliance with regulatory forbearance and Single…

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