Nigeria Records Six Per Cent Trade Surplus As CBN Reaffirms Reform Commitment

Nigeria’s trade surplus has risen to six per cent of Gross Domestic Product (GDP), according to the Central Bank Governor, Mr Olayemi Cardoso, signalling improved trade performance amid ongoing economic reforms. Cardoso made the announcement in Washington on Wednesday in a statement released by Mr Mohammed Manga, Director of Information and Public Relations at the…

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FCCPC Commends CBN’s 48-Hour Refund Guideline For Failed ATM Transactions

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

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14 Banks Meet New Capital Requirement – CBN

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that 14 banks have fully met the new capital requirements under the apex bank’s ongoing recapitalisation exercise. Cardoso made this known on Tuesday in Abuja while presenting the communiqué of the 302nd meeting of the Monetary Policy Committee (MPC). The recapitalisation framework,…

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CBN MPC Cuts Interest Rate To 27%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday reduced the country’s benchmark interest rate, the Monetary Policy Rate (MPR), from 27.5 per cent to 27 per cent. CBN Governor, Mr. Yemi Cardoso, announced the decision while presenting the communiqué of the committee’s 302nd meeting in Abuja. The move signals…

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Ongoing Reforms ‘ll Refocus Financial Stability, Stimulate Productivity – CBN

The Central Bank of Nigeria (CBN) says it is pursuing economic reforms aimed at refocusing financial system stability and stimulating productivity. The CBN Governor, Olayemi Cardoso, who disclosed this on Tuesday at its fair, holding in Kano, said it’s working hard to deepening financial inclusion and sustaining monetary and price stability. The theme of the…

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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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