Nigerian businesses struggle to service loans as interest rates hit 36%
Nigerian businesses are currently battling soaring loan interest rates from commercial banks, ranging between 29% and 36%, adding pressure to ...
Tag: Central Bank of Nigeria
News and analysis about Central Bank of Nigeria
Naira double win as US Dollar Index hits fresh lows
The Nigerian Naira posted its biggest one-day gain against the dollar in 2025 at the official foreign exchange market on ...
Naira falls against the dollar as forex traders blame diversion, government payouts
Currency traders have linked the recent depreciation of the naira at the parallel market to the supply challenges in the ...
Private sector credit falls to N76.12 trillion in June — fourth decline in 2025
Credit to Nigeria’s private sector fell to N76.12 trillion in June 2025, marking the fourth time this year that lending ...
Naira weakens to N1,565/$1 on parallel market, widest gap with official rate in over one week
The Naira fell to its weakest level in more than a week on the parallel market on Tuesday, trading at ...
Forex traders cite excess dollar supply, security enforcement as reasons for massive naira gains
Currency traders have attributed the recent performance of the naira and the relative stability of the foreign exchange (forex) market ...
Naira converges, US dollar index gains strength
The naira converged on Monday, as the local currency stabilized in the parallel market while increasing slightly in value in ...
Nigerian manufacturers to CBN: Cut interest rate to ease inflation, spur growth
The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to reconsider its monetary policy ...
TAJ Bank suffers fresh N957 million system glitch, discontinues reversal suit against 26 banks, fintechs
TAJ Bank Ltd suffered another system glitch in March this year, leading to unauthorized transfers of a staggering N957.4 million ...
Supreme Court judgment: CBN Governor settles with consultant over committal suit
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, the apex bank itself, and its former legal ...
