Senate Rejects New Fintech Regulator, Hands Oversight to CBN
Nigerian Senate backs stronger fintech regulation under Central Bank of Nigeria. Lawmakers say creating a new fintech agency would duplicate roles and increase bureaucracy. Senate also pushes stricter action against…
Nigeria Gold Reserves Hit $3.5bn — CBN
CBN boosts gold reserves to $3.5bn via domestic, responsibly sourced gold. National Gold Purchase Programme strengthens reserves without using foreign currency. LBMA standards followed, supporting Nigeria’s macroeconomic stability and investor…
BREAKING: CBN Cuts Interest Rate to 26.5%
CBN reduces interest rate (MPR) to 26.5% from 27% after Monetary Policy Committee meeting. Decision based on declining inflation and improved food supply outlook. Cash reserve ratios for banks and…
Court Freezes Copyright Levies, Bars CBN, Banks from Paying MCSN
Federal High Court freezes copyright levies payable to MCSN Court restrains CBN and commercial banks from disbursing funds Major labels including Universal, Sony, Warner back suit The Federal High Court…
SERAP Sues CBN Over Alleged Missing N3trn Public Funds
SERAP sues CBN over alleged missing N3 trillion public funds Lawsuit filed at Federal High Court, Abuja over Anchor Borrowers’ Programme payments Auditor-General report flags N629bn to “unknown beneficiaries” The…
CBN, NCC move to mandate 24-hour refunds for wrong airtime, data transfers
CBN and NCC propose 24-hour refunds for wrong airtime and data purchases Framework covers wrong-number transfers and over-purchases Banks, telcos to face strict timelines and accountability The Central Bank of…
Over 25% of Nigeria’s E-Payments Routed Through NIBSS Instant Platform — CBN
NIBSS NIP handles over 25% of all electronic payment transactions in Nigeria E-transactions surged to nearly 11 billion in 2024, up from 5 billion in 2022 Growth aligns with CBN’s…
Emefiele Trial: Witness Tells Court $6.23m Was Withdrawn from CBN with Forged Documents
Prosecution witness alleges $6.23m cash withdrawal from CBN using forged approvals Witness links withdrawal to election-related expenses, says documents were fraudulent Court hears how cash was allegedly shared after withdrawal…
IMF urges CBN, others to tread cautiously on interest rate cuts
IMF warns against premature rate cuts amid persistent inflation pressures. Says monetary easing should be gradual and data-driven. Stresses need for price stability and central bank independence. The International Monetary…
CBN moves to tighten debit card issuance, tackle ATM congestion
CBN debit card rules to link card issuance with banks’ ATM capacity New policy targets ATM congestion, cash shortages and downtime nationwide Policy expected before Q2 2026 ends, says CBN…