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CENTRAL BANK OF NIGERIA
News and analysis about Central Bank of Nigeria
The Naira is projected to appreciate to N1,450/$1 by the end of the year, strengthening from its current rate of N1,535.50/$1, amid improvements in fiscal and monetary conditions.
More Nigerians are beginning to perceive a slowdown in the inflation rate in the country, according to the...
Ahead of the Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting scheduled for July 22, 2025, analysts are broadly projecting a hold on the Monetary Policy Rate (MPR), currently at 27.5%.
The naira continued its recent streak of relative stability, closing the gap between the official and parallel exchange markets.
The Court of Appeal sitting in Abuja on Wednesday reversed the Federal High Court judgment that had ordered the Central Bank of Nigeria (CBN) to pay Kasmal International Services N579,130,698,440 for its involvement in stamp duty collection.
The Naira continued its downward trend this week and currently trades at N1,555/$1 on the parallel market on Wednesday, according to Nairametrics market survey in Lagos.
Analysts at Optimum Global have projected that the naira will trade between N1,500 and N1,600 in the second half of 2025, assuming positive macroeconomic conditions persist.
The exchange rate closed the week with a mixed performance, as the naira recorded a slight depreciation in the official market but strengthened on the parallel (black) market.
The Central Bank of Nigeria (CBN) has raised the alarm over a significant rise in financial fraud cases in the country, revealing that fraud surged by 45% within one year, with 70% of the resulting losses traced to digital channels, particularly unregulated virtual asset platforms.
Nigerian commercial banks are scrambling to meet the Central Bank of Nigeria’s (CBN) July 14 deadline for submission of Capital Restoration Plans, as the apex bank moves to phase out the regulatory forbearance regime introduced during the COVID-19 pandemic.
Currently, African countries are actively researching, piloting, or rolling out Central Bank Digital Currencies (CBDCs), a testament to the continent’s growing commitment to fintech innovation and financial inclusion.
The naira appreciated to N1,565 per dollar on Thursday at the parallel market, up from N1,580 per dollar on Wednesday, according to a Nairametrics market survey in Lagos.