Nigeria’s banking sector recorded a rise in bad loans in January 2026, with the non-performing loan ratio climbing to 8.03%, according to the Central Bank of Nigeria’s January 2026 Economic Report. The figure represents an increase from 7.51%…
The Central Bank of Nigeria has urged state governments to reduce their dependence on overdrafts and short-term borrowing, warning that poor fiscal discipline at the sub-national level could threaten the country’s planned transition to an…
The Central Bank of Nigeria has directed banks to complete a mandatory cybersecurity self-assessment within three weeks as part of efforts to strengthen resilience across the financial system. In a letter dated March 30, 2026, and published…
The Central Bank of Nigeria has given deposit money banks 18 months to comply with new baseline standards for automated anti-money laundering solutions, while other financial institutions have 24 months to meet the requirements. In a circular…
The Central Bank of Nigeria has cut its benchmark interest rate by 50 basis points to 26.5%, citing easing inflation, improved foreign exchange stability and stronger external reserves, while warning that fiscal pressures could still threaten…
Central Bank of Nigeria Governor Olayemi Cardoso said Nigeria’s net foreign exchange reserves rose sharply to $34.80 billion at the end of 2025, up 772% from $3.99 billion at the end of 2023, signaling a significant strengthening of the…
The naira has strengthened sharply in recent weeks, reaching one of its highest levels in nearly two years, even as rising foreign portfolio inflows raise the risk of investor profit-taking later in the year, according to a macroeconomic update…
The Central Bank of Nigeria (CBN) has upgraded the licenses of leading FinTech companies and microfinance banks, including Opay and Moniepoint, to national status, allowing them to operate across the country. The upgrade covers Moniepoint MFB,…
Losses to fraud in Nigerian financial institutions fell 51% to 25.85 billion naira ($17 million) in 2025 from 52.26 billion naira a year earlier, even as the central bank rolls out tougher, industrywide measures to combat rising digital fraud,…
Nigerian banks are recording an increase in defaults even as demand for credit remains strong, the Central Bank of Nigeria said on Tuesday. The CBN said in its latest financial stability assessment that higher borrowing by households and…
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