The Central Bank of Nigeria (CBN) has cut its benchmark interest rate to 23 per cent from 26.5 per cent. The decision came after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. CBN Governor Olayemi Cardoso announced the rate cut after the committee’s 307th meeting. “The Committee decided as follows: reset the monetary…
Olayemi Cardoso, governor of the Central Bank of Nigeria, revealed the milestone during a press briefing. He spoke after the 304th Monetary Policy Committee meeting on February 24, 2026, in Abuja. Cardoso stated, “Gross external reserves rose significantly to $50.45 billion as of February 16, 2026, the highest in 13 years.” The committee met on…
Olayemi Cardoso, Governor of the Central Bank of Nigeria, warned that digital payment systems posed risks to monetary sovereignty during a speech in Abuja. He delivered the address at the 2026 technical group meeting of the Intergovernmental Group of Twenty-Four on Wednesday. Cardoso highlighted how rapid expansion of cross-border payments and stablecoins could expose emerging…
