Before the 2008/09 Global Financial Crisis (GFC), central banks were primarily preoccupied with achieving price stability. This shift was supported by rational expectations theory and policy consistency, advocating for transparency…
In a bid to enhance customer satisfaction and ensure prompt resolution of disputes, the Central Bank of Nigeria (CBN) has introduced stringent penalties for commercial banks, payment system service providers,…
In recent decades, the received central banking model has come under severe criticism, especially from the modern monetary theory (MMT) prism, which prioritizes using monetary policies for growth promotion over…
In a significant move that has sparked controversy and raised questions about the government’s fiscal management, the Central Bank of Nigeria (CBN) has reaffirmed its commitment to a 5% threshold…
In a significant development, Nigerian banks and discount houses have borrowed a substantial N3tn from the Central Bank of Nigeria (CBN) through the Standing Lending Facility (SLF) within a single…
In a significant move aimed at enhancing the oversight and management of electronic transactions in Nigeria, the Central Bank of Nigeria (CBN) has mandated that all Point of Sale (POS)…
The Central Bank of Nigeria (CBN) has announced a sharp decline in the amount of currency held outside the banking system in July 2024, raising questions about the effectiveness of…
In a significant move aimed at tightening monetary policy, the Central Bank of Nigeria (CBN) increased the Standing Lending Facility (SLF) rate to 31.75% at its 296th meeting of the…
The federal government’s fiscal deficit expanded in April 2024, reaching ₦824.79 billion, a slight increase from the previous month’s figure of ₦823.91 billion. This widening deficit is primarily attributable to…
In a move aimed at bolstering transparency and public engagement in Nigeria’s economic affairs, the Central Bank of Nigeria (CBN) has announced the reintroduction of key economic reports on critical…