9 h. ago CBN: Winning war against exchange rate gaps, FX speculations

By Michael Nwadike The Central Bank of Nigeria (CBN) has activated market-driven pricing for the naira, significantly enhancing transparency and restoring investor confidence. With disciplined reforms and policy clarity, the naira has stabilized at a more sustainable level against the U.S. dollar. The once-wide gap between the official and parallel market rates has all but […] The post CBN: Winning war against exchange rate gaps, FX speculations appeared first on The Sun Nigeria.

Politics

15 h. ago CBN Posts ₦165bn Surplus In 2024, Boosts External Reserves To $38.8bn

The Central Bank of Nigeria (CBN) has recorded a strong turnaround in its financial performance for 2024, posting a surplus of ₦165 billion compared to a deficit of ₦1.3 trillion in 2023. That is according to the apex bank’s 2024 financial statement released on Friday, which highlighted improved operational efficiency, a stronger external reserve position, […]

Politics

4 d. ago CBN revises documentation requirements for PAPSS transactions

From Adanna Nnamani, Abuja The Central Bank of Nigeria (CBN) has announced a revision to the documentation requirements for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria. In a circular on Monday, which was signed by its Ag. Director, Corporate Communications, Hakama Ali, the apex bank said the review is part […] The post CBN revises documentation requirements for PAPSS transactions appeared first on The Sun Nigeria.

Politics

8 d. ago NEC defers state police talks amid rising violence, honours victims

From Juliana Taiwo-Obalonye, Abuja The National Economic Council (NEC), chaired by Vice President Kashim Shettima, met on Thursday at the Presidential Villa, Abuja, but postponed discussions on state police despite escalating insecurity. Attendees included governors, Rivers State Sole Administrator Vice Admiral Ibok-Ete Ibas, Delta Governor Sheriff Oborevwori, FCT Minister Nyesom Wike, and CBN Governor Yemi […] The post NEC defers state police talks amid rising violence, honours victims appeared first on The Sun Nigeria.

Events

9 d. ago Nigerians accumulate N75.65trn in savings, liquid assets –CBN

By Chinwendu Obienyi Amid mounting macroeconomic uncertainty, Nigerians are leaning heavily towards savings and low-risk financial instruments, with recent data from the Central Bank of Nigeria (CBN) showing a marked increase in quasi-money holdings. Quasi-money are assets that are easily and quickly convertible into cash. They are considered to be close substitutes for cash in […] The post Nigerians accumulate N75.65trn in savings, liquid assets –CBN appeared first on The Sun Nigeria.

Politics

1 week ago CBN Struggles With Inflation As Broad Money Supply Surpasses N114trn

Nigeria’s broad money supply surged to N114.22 trillion in March 2025, defying the Central Bank of Nigeria’s (CBN) tight monetary policies. Despite the CBN’s imposition of a 50% Cash Reserve Ratio (CRR), the money supply rose by 24% from N92.19 trillion in March 2024, continuing the trend of monetary expansion. On a monthly basis, the […] The post CBN Struggles With Inflation As Broad Money Supply Surpasses N114trn appeared first on Information Nigeria.

Economics

1 week ago Paris Club refund: Melrose files contempt suit against CBN’s Cardoso, others

From Godwin Tsa, Abuja Melrose General Services Limited has initiated contempt proceedings against Central Bank of Nigeria (CBN) Governor Olayemi Cardoso and Legal Services Director Salam-Alada Kofo for allegedly failing to comply with a Supreme Court judgement. The 2024 ruling reversed the forfeiture of ₦1.222 billion and ₦220 million linked to the Paris Club refund. […] The post Paris Club refund: Melrose files contempt suit against CBN’s Cardoso, others appeared first on The Sun Nigeria.

Politics

2 w. ago CBN: Bank recapitalisation aligns monetary, fiscal policies with FG’s economic vision

By Michael Nwadike The Central Bank of Nigeria (CBN’s) decision to embark on the recapitalisation of banks was to align monetary, fiscal policies with the Federal Government’s vision of prosperity for Nigerians and the economy. The recapitalisation which is underway, is recording significant successes, with the raising of capital by many banks and a surge […] The post CBN: Bank recapitalisation aligns monetary, fiscal policies with FG’s economic vision appeared first on The Sun Nigeria.

Politics

2 w. ago How Online Gambling Boosted Nigerian Revenue In The Last Quarter of 2024

Nigeria’s gross gaming revenue reached €675.1 million by the end of 2024, with the final quarter accounting for a significant portion of this total. The increase in revenue stemmed primarily from the growth of online gambling, supported by improved internet accessibility, mobile platform functionality, and streamlined digital payment solutions. These factors created an environment in […]

Politics

2 w. ago Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence

By Chinwendu Obienyi Nigeria’s foreign exchange (FX) market is once again facing renewed volatility as global economic uncertainties, driven by slumping oil prices and protectionist trade measures from the United States, continue to exert pressure on the naira and the nation’s external reserves. Daily Sun gathered that despite demand pressures and intervention by the Central […] The post Oil price slump as tariff tension pushes Nigeria’s FX market into turbulence appeared first on The Sun Nigeria.

Politics

2 w. ago Enugu Chamber Urges CBN To Implement Sustainable Policies For Local Businesses

The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has urged the Central Bank of Nigeria (CBN) to take more decisive actions to support the survival of indigenous businesses. Chief Odeiga Jideonwo, ECCIMA’s President, made this call during the CBN Special Day at the 36th Enugu International Trade Fair on Saturday. Jideonwo acknowledged the […] The post Enugu Chamber Urges CBN To Implement Sustainable Policies For Local Businesses appeared first on Information Nigeria.

Politics

3 w. ago CBN: Nigeria’s economy on recovery path as PMI hits 52.3 index points

By Chinwendu Obienyi Nigeria’s economic outlook appears to be on a path of gradual recovery as the Central Bank of Nigeria (CBN) reported a steady improvement in the country’s Purchasing Managers’ Index (PMI), which rose to 52.3 index points in March 2025, up from 51.4 index points recorded in February. The rise signals the third […] The post CBN: Nigeria’s economy on recovery path as PMI hits 52.3 index points appeared first on The Sun Nigeria.

Politics

3 w. ago Nigeria Posted $6.83bn Balance Of Payment Surplus In 2024 — CBN

The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022, according to a statement issued by the apex bank on Wednesday. “This improvement reflects the impact of […]

Politics

3 w. ago Nigeria posts $6.83bn balance of payments surplus in 2024 – CBN

…Says signals economic resurgence Personal remittance rise to $20.9bn The Central Bank of Nigeria (CBN) has announced a Balance of read more Nigeria posts $6.83bn balance of payments surplus in 2024 – CBN

Politics

3 w. ago FX market: CBN injects $198 million to boost liquidity, stabilize trading

From Adanna Nnamani, Abuja In a move to stabilize the foreign exchange market and ensure adequate liquidity, the Central Bank of Nigeria (CBN) on Friday, intervened by injecting US$197.71 million through sales to Authorized Dealers. CBN Director, Financial Markets Department, Omolara Duke in a circular at the weekend, said that the intervention was necessary due […] The post FX market: CBN injects $198 million to boost liquidity, stabilize trading appeared first on The Sun Nigeria.

Politics

3 w. ago CBN injects $198m into FX market to boost liquidity, stabilise trading

By Adanna Nnamani, Abuja The Central Bank of Nigeria (CBN) injected US$197.71 million into the foreign exchange (FX) market on Friday to stabilise trading and ensure enough liquidity. The move came through sales to Authorised Dealers, as confirmed by a weekend circular from Omolara Duke, CBN Director of the Financial Markets Department. Duke explained that […] The post CBN injects $198m into FX market to boost liquidity, stabilise trading appeared first on The Sun Nigeria.

Politics

4 w. ago CBN Denies Purported Introduction Of N5,000, N10,000 Banknotes

The Central Bank of Nigeria has denied a viral claim circulating on social media, saying that it has introduced two new denomination, N5,000 and N10,000 notes. In a statement on Thursday, CBN described the report as fake. The purported Whatsapp message quoted one Deputy CBN Governor, Ibrahim Tahir Jr., saying that the move is aimed […] The post CBN Denies Purported Introduction Of N5,000, N10,000 Banknotes appeared first on Information Nigeria.

Politics

4 w. ago AMCON receives huge boost, as Arik Air airlifts 2.2m passengers in 2024, operates 10,699 Flights – NCAA Report

Arik Air in 2024, airlifted 2,239,176 passengers between January 1, 2024, to December 31, 2024, a report sourced from the read more AMCON receives huge boost, as Arik Air airlifts 2.2m passengers in 2024, operates 10,699 Flights – NCAA Report

Politics