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CBN Reacts to Naira Devaluation
Business

CBN Retains Interest Rate at 27.50% 

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 27.50% following its 300th Monetary Policy Committee (MPC) meeting...

CBN Reacts to Naira Devaluation
Business

CBN Slashes FG Lending by Over N4tn, Ends Failed Intervention Era

  The Central Bank of Nigeria (CBN) reduced its net loans and receivables by over N4tn in 2024, largely by cutting overdraft exposure...

CBN Speaks on Plans to Revoke Licenses of Fidelity, Wema, Polaris, Unity Banks
Business

CBN Targets $1bn Monthly Diaspora Remittances with Launch of Digital BVN Platform

The Central Bank of Nigeria (CBN), in partnership with NIBSS, has launched the Non-Resident Bank Verification Number (NRBVN) platform, enabling Nigerians in the...

Currency in Circulation Drops to N5tn as CBN Tightens Monetary Measures | Daily Report Nigeria
Business

Currency in Circulation Drops to N5tn as CBN Tightens Monetary Measures

The total naira in circulation dropped to N5tn in March 2025, continuing a downward trend from N5.24tn in January, per Central Bank of...

Nigeria’s Money Supply Hits N114tn as Cash Use Soars, Inflation Persists  | Daily Report Nigeria
Business

Nigeria’s Money Supply Hits N114tn as Cash Use Soars, Inflation Persists 

Nigeria’s money supply surged to N114.22tn in March 2025, a 24% rise from March 2024, despite the CBN raising the Cash Reserve Ratio...

World Bank Blacklists 18 Nigerian Firms, Individuals for Corrupt Practices | Daily Report Nigeria
Business

World Bank Clarifies $10.50m Funding to CBN as Grant, Not Loan

The World Bank has clarified that the $10.50 million funding for the Central Bank of Nigeria (CBN) is a grant, not a loan,...

CBN Speaks on Plans to Revoke Licenses of Fidelity, Wema, Polaris, Unity Banks
Business

CBN Injects $197.71 Million into FX Market to Boost Liquidity

CBN has injected $197.71 million into the foreign exchange market to ensure liquidity and stability. The move aims to support a stable, transparent,...

CBN Reacts to Naira Devaluation
Business

CBN Denies Introducing N5,000, N10,000 Banknotes

CBN has denied introducing new N5,000 and N10,000 notes, labeling the reports as false. The reports had claimed that the CBN was set...

CBN Reacts to Naira Devaluation
Business

Banks Commence N100 ATM Charges Today 

CBN has introduced new charges for Automated Teller Machine (ATM) transactions. The charges, which take effect on March 1, 2025, will see customers...

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