For the second consecutive month, Nigeria’s inflation rate has dropped. According to the Consumer Price Index (CPI) report, released on Tuesday by the National Bureau of Statistics (NBS), headline inflation eased to 22.97% in May, this year, from 23.71% in April. It was 24.23% in February. Experts agreed that the stability in the foreign exchange rates, reduction in energy costs …

The Joint House of Representatives Committee on Public Accounts and Public Assets have invited the Minister of Finance, Wale Edun, and the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to appear before it on Monday over allegations of non-compliance with the provisions of the Fiscal Responsibility Act, 2007. Edun and Cardoso are also expected to answer questions on the …

The House of Representatives on Thursday summoned the Central Bank of Nigeria (CBN) Governor, Yemi Cardoso, Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Bagudu; the Accountant-General of the Federation, Babatunde Ogunjimi and the Auditor-General for the Federation, Mr Shaakaa Chira, over non-payment of contractors since 2024. The resolution of …

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, have been sued for contempt of court at the Federal High Court in Abuja over their alleged refusal to comply fully with a Supreme Court judgment. Melrose General Services, the applicant, filed a contempt suit marked: FHC/ABJ/CS/532/2025, against Cardoso, Kofo, …

The Central Bank of Nigeria (CBN) has again clarified that the 1,000 staff members who opted out of service in December 2024 were not forced to quit their jobs. The CBN Governor, Olayemi Cardoso, stated this on Friday in Abuja at an investigative hearing of the House of Representatives’ ad-hoc committee probing the circumstances leading to the exit of the …

The Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has advised Nigerians against leaving the country (Japa). He assured that the apex bank is building an economy where everybody and business can thrive. Cardoso gave this advice in a keynote address at the 59th annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria, CIBN, in Lagos. …

The Central Bank of Nigeria (CBN) facilitated the remittance of approximately $600 million through International Money Transfer Operators (IMTOs) in one year, the apex bank Governor, Olayemi Cardoso broke the news yesterday. He spoke at a ‘fireside’ event at the ongoing Nigeria Economic Summit (NES30), organized by the Nigeria Economic Summit Group (NESG). Policymakers, economists, and industry stakeholders were in …

The Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has defended the bank’s decision to raise the Monetary Policy Rate to 27.25 per cent, describing it as a necessary move to control inflation and curb excess money in circulation. This is according to a press statement from the apex bank on Sunday. Speaking during an address at …

A Federal High Court in Abuja has summoned the Governor of the Central Bank of Nigeria (CBN) and the Head of the Legal Services Department of the apex bank to appear before it with specific documents on Monday, 2 September, the new date fixed for the continuation of the trial in the money laundering case brought against Binance Holdings Limited …

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday disclosed that foreign investors are already moving funds into the country to invest in Nigerian banks under the ongoing recapitalisation exercise. Cardoso who stated this at the Afrinvest 2024 Banking Sector Report Launch in Abuja, yesterday, said that his team was vigilant and would not allow illicit …