Central Bank of Nigeria (CBN)

CBN Disburses $1.26 Billion For Fuel Imports Amid Refinery Rift

October 30, 2025 3:55 am

Nigeria’s Central Bank released $1.26bn to oil marketers for fuel imports, highlighting competition between Dangote Refinery and independent importers.

The Central Bank of Nigeria (CBN) has released $1.26 billion to oil marketers for the importation of petroleum products in the first quarter of 2025, underscoring the country’s ongoing reliance on foreign fuel despite ramped-up output from the Dangote Petroleum Refinery.

Data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) show that between January and March 2025, the CBN disbursed funds to operators in three tranches — $457.83 million in January, $283.54 million in February, and $517.55 million …

CBN Re-Capitalization: 11 Nigerian Banks Met Stipulated Deadline

CBN Re-Capitalization Drive: 11 Nigerian Banks Meet Deadline

October 19, 2025 6:12 pm

Nigerian banks raised over ₦1.7 trillion to meet CBN’s capital rule ahead of the 2026 compliance deadline, through rights issues to private placements.

With less than six months to the Central Bank of Nigeria’s (CBN) re-capitalization deadline, 11 commercial banks have successfully met the new minimum capital requirements through a mix of rights issues, private placements, and capital injections.

The re-capitalization drive, announced to strengthen Nigeria’s banking system, has already added about ₦1.72 trillion to the sector’s total share capital. Three banks with international licenses, six with national authorizations, and two non-interest lenders have crossed the finish line, according to …

NLC’s Plan To Shut CBN: Ajaero’s Leadership Laudable

March 27, 2023 6:02 am

At a time when Nigerians needed strong-willed, dogged, and committed champions to go head-to-head with the vicious political class that has sworn not to remove their knees from the necks of the suffering Nigerian masses. Nature and circumstances appear to have offered the country a lifeline in the new Chairman of the Nigerian Labour Congress (NLC), Comrade Joe Ajaero.

In the last quarter of last year, Nigeria’s apex bank – the Central Bank of Nigeria (CBN) made its intention to redesign the Naira public to Nigerians. Little did the suffering Nigerian masses know that the policy was going to …

Nigerian New Notes: CBN Led By Emefiele Is Bereft Of Ideas

November 30, 2022 2:47 am

Nigeria’s apex Bank, the Central Bank of Nigeria (CBN), got Nigerians reacting to the samples of the new designs of higher denomination currency notes just a few days ago. The decision to redesign these currencies was earlier announced amid mixed feelings from Nigerians who wanted more from a Central Bank that has supervised the eroding of the value of their beloved Naira.

The big question that has been left unanswered, however, is how the new currencies will manage to reverse Nigeria’s fast-paced journey to economic abyss.

The announcement by the Governor of the CBN, Godwin Emefiele attracted controversies from experts, …

Why Emefiele Retained His Position As CBN Governor – Buhari

June 22, 2022 7:13 am

The President of Nigeria, Muhammadu Buhari has revealed that the presidential bid of Godwin Emefiele did not affect his role Central Bank of Nigeria (CBN), hence his decision to allow him continue in office.

Emefiele wanted to be the presidential candidate of the ruling All Progressives Congress (APC) and drew severe condemnation for being politicised while leading the CBN.

While Emefiele’s dismissal was demanded by critics, Buhari claimed that such choices do not simply fall under his purview as Nigeria’s president.

‘The CBN governor is appointed by the President. But this appointment is subject to confirmation by the Nigerian …

2023 Presidency: Emefiele Withdraws Case Against INEC, Malami

May 24, 2022 5:20 am

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has withdrawn the suit he filed against the Independent National Electoral Commission (INEC) and the Attorney-General of the Federation over his presidential ambition.

Emefiele, through his counsel, S.T. Maliki, told Justice Ahmed Mohammed that a notice of discontinuance had been filed and served on the defendants in the matter.

The development occurred shortly after the matter was called.

Maliki, who held the brief of Chief Mike Ozekhome, SAN, said though the matter was scheduled for the mention, they had Emefiele’s instruction to withdraw the suit.

Read Also: Emefiele Reiterates

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2023 Presidency: My Fate Is In God’s Hands, Emefiele Insists

February 15, 2022 3:25 pm

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has reacted to the rumours making the rounds that he plans to contest for presidency in the 2023 presidential election.

According to him, it is the prerogative of the President Muhammadu Buhari, to map out his succession plan and if God permits, he would would be no one to say no.

The CBN governor was quoted as speaking when a ‘group of his friends’, tagged ‘Friends of Godwin Emefiele’, visited him to discuss the controversy over his rumoured presidential ambition in 2023.

In a statement issued by the …

Your Tactics Harming Southeast Greatly – Moghalu To IPOB

Crypto Ban In Nigeria: Moghalu Advises Buhari Govt

February 8, 2021 11:29 am

A former deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has criticised President Muhammadu Buhari’s government over the cryptocurrency ban by the apex bank.

Recall that CBN ordered banks and financial institutions in Nigeria to close the accounts of cryptocurrency traders.

CBN in its circular signed by Director of Banking Supervision, Bello Hassan, directed financial institutions to halt any transactions in crypto or to facilitate payments for crypto exchanges.

Reacting to the development, which Nigerians have greatly criticised, Moghalu in an interview on Channels Tv Sunday Politics, said the move was as though the Buhari-led administration is …