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CBN

Why CBN Retained Bencmark Interest Rate At 27.5%
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CBN Directs Banks to Deny Debtors New Loans

Central Bank of Nigeria has directed commercial banks to deny additional credit and certain banking services to large borrowers with non-performing loans, in a move aimed at strengthening credit discipline and reducing financial risks in the banking system. In a letter dated March 12,
March 13, 2026
CPPE Highlights What Must Be Done To Sustain Disinflation In Nigeria

CPPE Welcomes CBN Rate Cut, Flags Potential Limitations

The Centre for the Promotion of Private Enterprise (CPPE) has welcomed the Central Bank of Nigeria’s (CBN) decision to cut the Monetary Policy Rate (MPR) by 50 basis points to 26.5 percent, describing it as a positive signal for growth. In a
February 26, 2026
CBN Further Raises Benchmark Interest Rate To 27.25%
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CBN Allows Use of Expired Drug Licences

Nigeria’s central bank has approved a temporary measure allowing importers to use expired drug regulatory licences to process import documentation, in a move aimed at preventing disruption to trade. The Central Bank of Nigeria (CBN) said licences issued by the National Agency
January 28, 2026
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CBN Revokes Licences of Aso Savings, Union Homes

The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, two primary mortgage banks in Nigeria. The revocation, announced on Tuesday, December 16, 2025, through a statement
December 16, 2025
Naira Appreciates At Official Market As Dollar Supply Rises On Friday
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Dollar Rate Drops To N1,485/$ In Parallel Market

In the parallel market on Monday, the foreign exchange rate of the United States dollar (USD) decreased to N1,485 per $1, as the naira continues its rebound against the foreign currency. The naira appreciated against the American greenback by 0.33 percent, with
December 15, 2025
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