Central Bank of Nigeria (CBN)
Nigeria to discourage cash withdrawals and make deposits easier
Central bank says reform package aims to reduce cash usage and tackle money laundering
IMF praises Nigeria’s FX reforms
Fund’s article IV review also calls on central bank to introduce disinflation path
Nigeria keeps policy rate at 27.5%
Bank makes second consecutive hold as inflation declines, and cites alarm over trade policy uncertainty
Nigeria simplifies documentation for pan-African payments system
Revised process will affect PAPPS payments of up to $2,000 for individuals and $5,000 for businesses
Nigeria sells FX to offset tariff-induced volatility
Oil-exporting country also affected by decline in commodity prices
Nigerian central bank to cap fees for ATM withdrawals
Move meant to curb rising costs of withdrawals
Japan and Philippines renew swap agreement
China also renews 15 billion yuan currency swap line with Nigeria
BIS and World Bank find central banks split over retail CBDCs
Study says many institutions see value in launching fast payments systems first
Nigeria tightens policy further as inflation continues to rise
Central bank raises rates by 25bp as annual headline inflation exceeds 33%
IFC to boost local currency financing in Nigeria
Central bank signs agreement intended to unlock more than $1 billion of funding in coming years
Nigeria raises key interest rate to historical high
Rate now stands at 27.25%, despite slight drop in headline inflation last month
Nigeria raises rates as inflation continues to rise
Central bank plans to maintain tight policy as food prices prove particularly challenging
Nigerian central bank raises rates for third consecutive time
MPC says tight policy is starting to work but calls for more action on food security
Nigerian president orders central bank to suspend levy
“Cyber security levy” would have charged 0.5% of most electronic transactions
Nigerian governor declares fixed exchange rates are over
Cardoso says central bank plans to move to an inflation-targeting regime
Nigerian prosecutors bring new charges against Emefiele
Authorities allege that ex-governor illegally allocated $2.1 billion in FX
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months
Nigerian central bank imposes capital levels on lenders
Move comes after MPC calls for renewed efforts to recapitalise banks
Nigeria closes FX exchanges amid continuing currency problems
Authorities intensify actions against Binance and other cryptocurrency firms
Nigerian central bank hikes rates after long delay
Governor’s first MPC meeting announces 400bp rise as street protests over inflation grow
Nigerian president nominates seven MPC members
Central bank tightens currency restrictions as inflation continues to rise and dollar shortages continue