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 …

The Governor of Central Bank of Nigeria (CBN) Olayemi Cardoso has assured Nigerians of better days ahead, just as he declared that the planned stability will make Nigeria hit $1trillion economy latest by 2030. Cardoso outlined the CBN’s mandate and provided an in-depth analysis of Nigeria’s economic performance, recent policy measures, and the outlook for the remainder of the year …

The Central Bank of Nigeria (CBN) on Sunday expressed relief that Nigerians have fully embraced the introduction of Islamic banking years after speculations made the round that it was an attempt to Islamise the country This was disclosed by the CBN Governor, Yemi Cardoso, at a reception organised to honour the Secretary-General, Organisation of Islamic Cooperation (OIC) Arbitration Centre, Dr …

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. Inflation in Nigeria remains stubbornly high at 33.2 per cent, the highest in three decades, while food inflation is higher still at 40 per cent. In an interview with the Financial …

The Central Bank of Nigeria (CBN) is not defending the naira with foreign reserves, its Governor Olayemi Cardoso, said yesterday at the ongoing Spring Meetings of the International Monetary Fund (IMF)/World Bank in Washington DC. Cardoso said: “Defending the naira seems to be a prevalent theme. Let me be very clear: it is not our intention to defend the naira”. …

In an article I wrote some months ago titled, ‘Opportunists, Scavengers and the Attacks on Mele Kyari’, I drew attention to a coordinated attack on the Group Chief Executive Officer of NNPCL Limited, Malam Mele Kyari. At the time, an anti-Kyari campaign had been initiated in the media by certain individuals whose aim was to get the helmsman relieved of …

The Senate Ad-hoc Committee probing how the N30 trillion Ways and Means loans were obtained from the Central Bank of Nigeria (CBN) and spent by the former President Muhammadu Buhari-led administration says it has uncovered some infractions in the process of obtaining the overdraft. As such, the committee said it had concluded plans to summon the current CBN Governor, Olayemi …