BUSINESS

CBN reaffirms June 2025 deadline for BDC recapitalisation, dismisses rumoured extension

Daily Dispatch June 12, 2025

The Central Bank of Nigeria (CBN) has reiterated that the deadline for the recapitalisation of Bureau De Change (BDC) operators remains June 3, 2025, countering widespread speculation of a deadline extension. In a statement issued by the Acting Director of Corporate Communications, Mrs. Hakama

BUSINESS

CBN reassures the public of banking stability

Daily Dispatch May 19, 2025

The Central Bank of Nigeria on Monday dismissed reports suggesting distress in a regulated financial institution, describing the claims as misleading and capable of triggering unnecessary panic in the financial system.In a press statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank assured Nigerians that the country’s banking

BUSINESS

CBN, LG autonomy and need for financial probity

Daily Dispatch March 10, 2025

By Lawal Nasir When in July 2024, the Supreme Court gave a ruling that effectively granted financial autonomy to the 774 local government councils in the country, the development was received with mixed reactions. While many celebrated the position of the nation’s apex court with regards to the third tier of government, Nigerian governors were […]

LEAD STORY 1

Court orders final forfeiture of Emefiele’s $4.7m, N830m, property

Daily Dispatch February 21, 2025

A federal high court in Lagos has ordered the final forfeiture of $4.7 million, N830 million, and property linked to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN). Yellim Bogoro, the presiding judge, granted the final forfeiture application brought by the Economic and Financial Crimes Commission (EFCC), in a judgement delivered on […]

BUSINESS

CBN Retains Interest Rate At 27.5%

Daily Dispatch February 20, 2025

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has unanimously decided to hold all the parameters. This was announced by the CBN Governor, Mr Olayemi Cardoso, on Thursday during a press briefing in Abuja. In this regard, that keeps the Monetary Policy Rate (MPR) at 27.50 percent, and retains the asymmetric corridor around […]

BUSINESS

CBN Increases Interest Rate To 27.50 Percent

Daily Dispatch November 26, 2024

The Central Bank of Nigeria (CBN) has increased the country’s monetary policy rate to 27.50 percent, up from the previous rate of 27.25 per cent. The decision was made during the final meeting of the year for the Monetary Policy Committee (MPC), which convened at the central bank’s headquarters in Abuja on Tuesday. CBN Governor, Yemi Cardoso, […]