COGNICURRENT

Nigeria's net foreign reserves rose substantially to $34.80 billion by the end of 2025, according to the Central Bank of Nigeria.

Nigeria's net foreign exchange reserves have surged to $34.8 billion at the end of 2025, a significant increase from 2023.

The Central Bank of Nigeria cut the Monetary Policy Rate by 50 basis points to 26.5% as part of efforts to manage inflation and stabilize the foreign exchange market.

The National Association of Microfinance Banks in Nigeria is focusing on enhancing corporate governance in anticipation of a potential increase in the minimum capital requirements by the Central Bank of Nigeria.

The trial of former AMCON Managing Director Ahmed Kuru regarding a N76bn fraud linked to Arik Air this week included evidence from a significant Central Bank of Nigeria meeting.

The Central Bank of Nigeria has reduced the benchmark interest rate to 26.5%, which the Organised Private Sector considers a modest yet positive signal for the economy.

Tunde Lemo, former Deputy Governor of the Central Bank of Nigeria, has announced his intention to run for the governorship of Ogun State in the 2027 election.

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, emphasizes that disciplined and transparent reforms are boosting confidence in Nigeria's financial system.

Concerns regarding data privacy and security are hindering Nigeria's efforts to increase financial inclusion despite significant investments in digital infrastructure.

The Nigeria Customs Service has clarified that it does not control or manipulate foreign exchange rates for import and export purposes and that rates used are based on the Central Bank of Nigeria's official figures.

A significant majority of Nigerians, as indicated by a recent survey, are calling for reduced lending rates ahead of the Monetary Policy Committee's forthcoming meeting.

The Central Bank of Nigeria announces enhanced cooperation with the African Union for monetary integration after Nigeria's approval as a permanent member of the African Monetary Institute Board.

The Governor of the Central Bank of Nigeria announced plans to enhance cooperation with other African central banks following Nigeria's approval as a permanent member of the Board of the African Monetary Institute.

The Nigeria Customs Service clarified that it does not set foreign exchange rates for imports, emphasizing that the Central Bank of Nigeria determines these rates.

Sterling Financial Holdings has confirmed the full recapitalization of its banking subsidiaries in accordance with new regulatory requirements from Nigeria's central bank.

The Socio-Economic Rights and Accountability Project has initiated legal action against the Central Bank of Nigeria for not accounting for N3 trillion in public funds.

The Central Bank of Nigeria has committed to significant economic reforms to stabilize the economy and target a $1 trillion economy by 2030, as discussed during a trade fair event.

Market analysts predict that the naira will strengthen against the dollar following the Central Bank of Nigeria's announcement allowing Bureau de Change operators to purchase up to $150,000 weekly.

The Central Bank of Nigeria has authorized licensed Bureau De Change operators to purchase up to $150,000 weekly in a bid to improve foreign exchange liquidity.

Kuda Microfinance Bank has received a national microfinance bank license from the Central Bank of Nigeria, enabling expansion of its operations across the country.

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, emphasizes the necessity of public-private partnerships for Nigeria’s sustainable growth and macroeconomic stability.

The Central Bank of Nigeria and the Nigerian Communications Commission have proposed that customers should receive instant refunds within 30 seconds for failed airtime and data purchases to address ongoing complaints.

Approximately 60 recruits selected by the Central Bank of Nigeria are facing delays in deployment despite receiving job offers, leading to significant personal and professional disruption.

The Central Bank of Nigeria and the Nigerian Communications Commission have launched a framework aimed at resolving issues related to failed airtime and data transactions experienced by consumers.

The Bank of Industry in Nigeria has received approval from the Central Bank to implement a Non-Interest Banking window, enhancing its financial services.

The World Bank has reduced its planned grant to the Central Bank of Nigeria from $10.5 million to $6.8 million for a project aimed at enhancing the bank's technology capabilities.

The Central Bank of Nigeria warns that the country's fintech sector's heavy dependence on foreign investment makes it susceptible to global market fluctuations.

The Court of Appeal in Abuja has mandated the Central Bank of Nigeria to pay N2.5 billion to 110 unlawfully dismissed workers of Ahmadu Bello University, rejecting attempts to delay the payment.

Summit Bank has reached a regulatory capital base of N15.3 billion, surpassing the Central Bank of Nigeria's minimum requirement for regional non-interest banks and ensuring its growth ahead of the 2026 recapitalization deadline.

The Nigerian naira depreciated slightly against the US dollar, falling to 1,366.05 naira per dollar at the official exchange rate after a period of consecutive gains.

The Mexican Central Bank has paused interest rate cuts, maintaining a rate of 7.0 percent amid inflation concerns and trade tensions.

The Central Bank of Nigeria will release an Open Banking implementation roadmap within three months to enhance the country's financial ecosystem.

Nigeria's fintech sector experienced a remarkable 70% growth in 2025, marking its rise as a prominent digital finance hub in Africa, according to the Central Bank of Nigeria.

Kenya's Central Bank has prohibited the use of banknotes for decorative cash bouquets, labeling it as defacement of national currency, which could lead to severe penalties including imprisonment.

The naira improved against the US dollar in the last week of January 2026, closing at 1,386/$ in the official Nigerian foreign exchange market.

A new survey by the Central Bank of Nigeria reveals that Nigeria's fintech industry is split on the regulatory climate, with half of the operators seeing it as supportive and the other half as a constraint.