By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s EXTERNAL reserves rose to about $49bn as of February 5, 2026, Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso told members of the National Economic Council Conference (NECC) in Abuja, describing the figure as a signal of improved confidence in the country’s economy. JKNe...
By Ajibola Olaide, JKNewsMedia Reporter TEMPPORARY RELIEF has been granted to ease import processing as authorised dealer banks receive approval to accept expired National Agency for Food and Drug Administration and Control (NAFDAC) licences for Form M transactions. JKNewsMedia.com reports that the Central Bank of Nigeria (CBN) confirmed it h...
By Yomi Omolade, JKNewsMedia Intern THE MONETARY Policy Committee of the Central Bank of Nigeria (CBN) has reduced the benchmark interest rate by 50 basis points, lowering it from 27.5 percent to 27 percent. Governor Olayemi Cardoso made the announcement while briefing journalists on the outcome of the 302nd meeting of the Monetary Policy Com...
By Jemimah Wellington, JKNewsMedia Correspondent HEADLINE INFLATION slowed in June as energy prices dipped and foreign exchange rates steadied, according to the Central Bank of Nigeria (CBN). The bank’s governor, Yemi Cardoso, announced the development on Tuesday while presenting the communiqué from the Monetary Policy Committee’s (MPC) 301st...
By Ajibola Olaide, JKNewsMedia Reporter THE FEDERAL Government has said it will raise N1.76 trillion by issuing Treasury Bills in the third quarter of 2025, according to a new borrowing schedule released by the Central Bank of Nigeria (CBN). The amount reflects a 12.8 percent increase from the N1.56 trillion raised through similar instruments...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIAN ABROAD can now remotely obtain a Bank Verification Number (BVN), following the official launch of the Non-Resident Bank Verification Number (NRBVN) platform in Abuja by the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System (NIBSS). This move, the group say, eliminat...
By Jemimah Wellington, JKNewsMedia Reporter NIGERIA’s EXTERNAL reserves slumped to an eight-month low in April as the Central Bank ramped up dollar sales and foreign debt service obligations weighed on the balance. Gross reserves dipped by nearly $375 million from March to $37.9 billion at the end of April, marking the fourth consecutive mont...
By Joke Kujenya THE CENTRAL Bank of Nigeria (CBN), on Tuesday, announces increase in the Monetary Policy Rate (MPR) from 27.25 per cent to 27.50 per cent, aiming to address rising economic challenges. The decision came during the final Monetary Policy Committee (MPC) meeting of the year, held at the apex bank’s headquarters in Abuja [&he...
By Ajibola Olaide, JKNMedia Reporter THE CENTRAL Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR) to 26.75 percent from 26.25 percent. This decision aims to address the surging inflation in the country. Governor Olayemi Cardoso announced the new rate after the committee’s 296th meeting in Abuja. Nigeria’s inflation ra...
By Ajibola Olaide, JKNMedia Reporter ALLEGATIONS OF mismanagement concerning over N100 billion in questionable notes and other funds stored in Central Bank of Nigeria (CBN) vaults have prompted calls for accountability from Governor Olayemi Cardoso. These concerns stem from revelations in the Auditor-General of the Federation’s latest an...
