CBN News: Central Bank of Nigeria — Policy, Naira & Banking Updates

Who decides how much cash flows in Nigeria? The Central Bank of Nigeria (CBN) does — and its choices change prices, interest rates, and how easy it is to move money. If you run a business, plan to travel, or just try to stretch your salary, following CBN news matters.

The CBN sets monetary policy, manages foreign reserves, supervises banks, and controls the naira’s exchange rate. That sounds technical, but the outcomes are simple: changes in interest rates affect loan costs; FX rules change import prices; cash policies impact ATM access and daily banking. A single policy shift can ripple through markets within hours.

On this tag page you’ll find quick reports and plain-language explainers about CBN decisions. Expect coverage of policy rate moves, FX window changes, naira interventions, bank licensing or sanctions, and public statements from the governor. We also flag stories about cash shortages, new banking rules, and major moves that affect fuel, food, and trade prices.

Recent issues to watch

Keep an eye on these trends — they show up often in CBN coverage and directly affect wallets and businesses:

- Interest rate decisions: Raises tighten credit and cool inflation; cuts boost lending but may push prices up.

- FX policy shifts: New rules on forex windows or dollar allocations can swing import costs and naira value.

- Liquidity and cash management: Measures to ease or restrict cash in circulation can lead to ATM queues or improved cash flow for firms.

- Banking supervision actions: Fines, mergers, or license changes affect customer trust and bank stability.

How to use CBN news to make smarter choices

If you want CBN updates to help you, here are practical steps you can take right away:

- For savers: Watch rate decisions before locking long-term deposits. Higher rates often mean better returns on fixed deposits.

- For borrowers: Expect loan costs to follow policy rates. If rates rise, fixed-rate loans become more attractive than variable ones.

- For businesses that import: Track FX announcements closely. Shift orders or hedge currency when the central bank signals tighter forex supply.

- For everyday budgeting: Big CBN moves can affect fuel and food prices. Keep an emergency fund to cover short shocks after major policy changes.

We keep our CBN tag updated with clear summaries, timely alerts, and context that matters. Click any story to read quick takeaways and what it means for prices, jobs, and business. Want alerts? Use our subscribe option to get the biggest CBN headlines sent straight to your inbox or phone.

Have a tip or a question about a recent CBN move? Send it our way — we’ll try to explain it in a simple, useful way so you can act, not just read headlines.

Central Bank of Nigeria Greenlights Unity and Providus Banks' Merger to Strengthen Financial Sector

Central Bank of Nigeria Greenlights Unity and Providus Banks' Merger to Strengthen Financial Sector

Ryno Ellis
7 Aug 2024

The Central Bank of Nigeria has given the green light for the merger of Unity Bank Plc and Providus Bank Limited as part of efforts to strengthen the country's financial system. The move includes financial support of N700 billion to ensure the stability of the new entity.