The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said monetary policies of the Central Bank of Nigeria (CBN) to combat inflation should be commended. Henzodaily reported that Yemi Cardoso-led CBN monetary policy of increasing interest rates was condemned by the Manufacturers Association of Nigeria (MAN). The association said raising interest … Read more
The Central Bank of Nigeria has said that without its policy interventions, inflation could have risen to 42.81 per cent in December 2024. The CBN Governor, Yemi Cardoso, made this known at the 2025 Monetary Policy Forum of the apex bank on Thursday in Abuja. The forum attracted ministers, heads of departments and agencies involved … Read more
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has declared that the policy intervention of the apex bank prevented Nigeria’s inflation from surging to 42.81% by December 2024. Cardoso also revealed that the CBN would stick to orthodox monetary policies to tame inflation in 2025. According to him, the diaspora remittances would rise … Read more
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, on Tuesday unveiled a new Foreign Exchange (FX) Code to the market. At the event in Abuja, Cardoso stated that it would establish clear and enforceable standards for ethical conduct, transparency, and good governance in the foreign exchange market. He emphasised that … Read more
On January 18, 2022, the Central Bank of Nigeria (CBN) and the Rice Farmers Association of Nigeria (RIFAN) made headlines with the unveiling of the iconic rice pyramids in Abuja. This event symbolized Nigeria’s progress in rice production, driven by the Anchor Borrowers Programme (ABP). However, three years later, Nigeria’s rice self-sufficiency narrative has been … Read more
The Central Bank of Nigeria (CBN) has introduced the Nigeria Foreign Exchange (FX) Code as part of its efforts to address risks associated with the significant positive changes in the nation’s financial environment. Henzodaily reports that the apex bank announced this on Monday, January 27, stating that the Code is based on the principles outlined … Read more
Union Bank announced on Thursday the commencement of a daily withdrawal limit on point-of-sale (PoS) terminals. Henzodaily gathered that Union Bank reached the decision following the directive by the Central Bank of Nigeria (CBN) on December 17, 2024, limiting the daily withdrawal limit on PoS to ₦100,000 per customer. The apex bank noted that the directive … Read more
The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth. Mr Muhammad Abdullahi, Deputy Governor, Economic Policy Directorate, CBN, revealed this on Tuesday during the 11th edition of the National Economic … Read more
A founding member of the All Progressives Congress (APC) Osita Okechukwu, has stated that the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has stopped the bandits of Deposit Money Banks, (DMBs) who are deliberately frustrating Nigerians. Henzodaily reports that the CBN had sanctioned nine Deposit Money Banks with fines totalling ₦1.35bn for … Read more
The Central Bank of Nigeria (CBN) says it has sanctioned some Deposit Money Banks (DMBs) for failing to make Naira notes available through automated teller machines (ATMs), during the yuletide season. According to a statement by Hakama Sidi-Ali, CBN’s Director, Corporate Communications Department, this is a clear message of zero tolerance for cash flow disruptions. … Read more