Nigeria
Nigeria agrees to house continental central bank
Africa took a step closer to creating a single central bank on Monday after it emerged that the African Union, a body devised to foster economic integration in the region, and Nigeria would sign an agreement to create a regional central bank in Abuja…
Russia, Nigeria devalue, shun "losing battle"
The Nigerian and Russian central banks have both said that they will allow their currencies to depreciate to protect their reserves stockpile. The actions signal Moscow and Abuja have acknowledged that the real values of their currencies have weakened in…
Nigerian FX markets stall on intervention hopes
Nigeria's foreign exchange markets froze on Tuesday as banks waited to see if the central bank would intervene to halt the naira's fall.
Nigeria presses banks to post loan costs
The Central Bank of Nigeria is enhancing transparency for the country's consumers by requiring banks to disclose their loan costs and deposit rates on the internet.
Nigeria acts to counter likely inflationary surge
The Central Bank of Nigeria has raised rates and its cash requirement ratio on concerns that inflation could soar in the coming months.
I was forced out: ex-Nigerian deputy
Wahia Mshelia, a former deputy governor at the Central Bank of Nigeria, has alleged that she was forced to quit after falling out with Charles Soludo, the institution's governor, local media reported on Wednesday. Soludo has denied the claims.
Nigeria raises rates 50bp, flags further hikes
Nigeria's central bank raised rates to 10% and warned that policy would need to tighten in the future with "huge fiscal injections" expected.
Nigeria combats inflation with 50bp hike
The Central Bank of Nigeria's rate-setting board voted on Tuesday to raise rates by half a percentage point to 9.5% in a bid to fight inflation.
Ex-Nigerian finance minister rejoins World Bank
Ngozi Okonjo-Iweala, a former finance and foreign minister in Nigeria, is set to become a managing director at the World Bank.
Nigeria hikes rates
The Central Bank of Nigeria said on Thursday it would raise its benchmark monetary policy rate by a full percentage point to 9%.
Currency reform set for delays - Nigeria's Soludo
Charles Soludo, the governor of the Central Bank of Nigeria, said reforms of its naira currency, set out in mid-August, are on hold until the central bank meets with the government.
New framework for supervision in Nigeria
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) intend to introduce a comprehensive framework for banking supervision and have sent a draft to banks asking for their comments.
Nigeria halts currency redenomination
The Central Bank of Nigeria has suspended its redenomination of the Naira at the request of the country's president, Alhaji Umaru Musa Yar'Adua.
Nigeria's strategy for the new naira
Charles Soludo, the governor of the Central bank of Nigeria, sets out plans for the currency redenomination.
Nigeria announces plans for new naira
Charles Soludo, the governor of the Central Bank of Nigeria, said Tuesday that the central bank is to drop two zeros from the Naira and introduce a new set of notes and coins.
Central Bank of Nigeria 2006 annual report
The Central Bank of Nigeria notes in its annual report for 2006 that macroeconomic stability was achieved through non-accommodating monetary policy and prudent fiscal policies by the federal government.
Nigerian central banker becomes finance minister
The president of Nigeria, Umaru Yar'Adua, appointed Shamsuddeen Usman, a deputy governor at the country's central bank since 1999, as finance minister.
Soludo on the Nigerian banking system
Following controversy over Springbank, the governor of the Central Bank of Nigeria, Charles Soludo, sought to reassure the public in this briefing that the banking system is safest and soundest it has ever been in its history.
Why all the fuss about reserve management?
This article published Tuesday 15 May by Business Day asks why the Central Bank of Nigeria is so concerned about local banks shoring up on reserve management skills.
CBN says currency change won't affect ECOWAS
The governor of Central Bank of Nigeria, Professor Charles Soludo, has said currency restructuring by the Federal government will not affect plan for common denomination by ECOWAS countries.
Nigeria to get more efficient payment system
The Central Bank of Nigeria (CBN) is to implement a robust and more efficient payment system in the country, the official News Agency of Nigeria reported on Monday 4 December.
Nigeria's Soludo 'pressured' on foreign reserves
The governor of the Central Bank of Nigeria, Prof. Charles Soludo, has said he is under pressure from politicians to use the central bank's foreign reserves.
Nigeria plans an oil investment fund
The Central Bank of Nigeria said it is working on a national investment fund that will manage a proportion of its external reserves.
Central Bank of Nigeria - Annual Report 2005
According to the Central Bank of Nigeria's Annual Report 2005, the performance of the external sector further improved in 2005 with an overall balance of payments surplus of N1,364.8 billion, or 9.2 per cent of GDP.