The CBN's deposits from Nigerian banks grew by over 800% year over year in 2025. This shows that the money market was tighter and there was too much cash.
Nigeria records a $6.83 billion payments surplus in 2024, marking the first surplus in three years. Key reforms and trade performance contributed to the success.
Nigeria's inflation rate rose to 34.19% in June, driven by rising food prices. This significant increase poses serious concerns for the economy and citizens.
Nigeria's booming cryptocurrency market, with transactions worth billions of dollars weekly, is facing increased regulatory scrutiny as authorities aim to balance innovation with financial stability and consumer protection, addressing concerns over money laundering and fraud.
The Central Bank of Nigeria has overhauled its cash-handling rules, lifting deposit limits and increasing weekly withdrawal thresholds to N500,000 for individuals and N5 million for corporates.