Central Bank of Nigeria

Nigeria's central bank intervened in foreign exchange markets last week, absorbing $190 million to moderate naira appreciation, while economists anticipate the largest monetary policy rate reduction in over five years.

The Centre for the Promotion of Private Enterprise has flagged vulnerabilities in Nigeria's capital flow composition, warning that headline growth figures mask underlying structural risks that could destabilize the economy.

Monetary authorities have refuted viral claims suggesting Nigeria will abandon the naira for the proposed West African Eco currency by 2027, emphasizing that the country's national currency remains secure pending regional economic convergence.

Mandatory reserves held by five major Nigerian banks with the Central Bank of Nigeria climbed to N6.9 trillion, reflecting the impact of sustained tight monetary policy as the sector navigates recapitalization pressures and liquidity management challenges.

The Nigerian naira closed at N1,348 per dollar on Friday, marking a week-on-week appreciation of N10, as the Central Bank of Nigeria implements a new $150,000 weekly allocation strategy for Bureau de Change operators to stabilize foreign exchange markets.

Nigeria's government launches investment budgeting overhaul and CBN payment system reforms while negotiating capital gains tax framework with foreign investors threatening to freeze $3 billion in potential investments.

Nigeria's financial sector shows divergent liquidity patterns as commercial banks deposit N3.57 trillion in the Central Bank's Standing Deposit Facility over three days, while the Federal Mortgage Bank records its strongest operational performance in decades with N19.5 billion net surplus.

Nigeria's currency has gained ground as Brent crude trades above the federal government's $64.8 per barrel budget assumption, positioning the country for improved foreign exchange reserves and fiscal stability.

President Tinubu establishes new coordinating body as Africa's largest economy moves to formalize oversight of its rapidly expanding digital asset sector, with the Central Bank designated as lead regulator.

Nigeria's currency recorded gains against the euro while facing renewed depreciation pressures in the official market, as Bureau de Change operators report difficulties accessing the Central Bank's official foreign exchange window despite external reserves reaching $48.5 billion.

The Federal Airports Authority of Nigeria and MTN are rolling out free WiFi at major airports while the Central Bank tackles the regulatory challenges of digital cross-border payments.

Nigeria advances twin pillars of digital transformation with free airport WiFi in Lagos and Abuja while the Central Bank pursues regulated frameworks for cross-border digital payments, signalling coordinated infrastructure and financial modernisation.

Nigeria's foreign exchange reserves reached $48.5 billion, the highest level since 2013, while Sterling HoldCo completed its oversubscribed public offer and FMBN posted a 68.4% year-on-year surplus increase, signaling robust recovery across the financial sector.

Business chambers LCCI and CPPE identify transition from acceleration to disinflation in Nigeria's January inflation figures, though both organizations emphasize price stability remains elusive amid ongoing monetary policy challenges.

Central Bank of Nigeria Governor Olayemi Cardoso calls for integrated approach linking climate adaptation with industrialization and employment generation across the continent.