Sofia, January 2, 2026 – Bulgaria has officially adopted the euro as its national currency, becoming the 21st member of the eurozone on January 1, 2026. The historic switch, which replaces the longstanding Bulgarian lev, was marked by celebrations in Sofia, including fireworks and projections of euro coins on the facade of the Bulgarian National…
Clarion Newschannel – January 2, 2026 The Nigerian naira closed 2025 with divergent performances across foreign exchange markets, marking its first annual appreciation in over a decade in the official segment while maintaining relative stability in the parallel market.According to data from the Central Bank of Nigeria (CBN), the naira strengthened significantly in the Nigerian…
Abuja, December 31, 2025 – Commercial banks in Nigeria will begin charging senders a flat N50 stamp duty on electronic money transfers of N10,000 and above from January 1, 2026, as part of changes introduced by the Nigeria Tax Act 2025.The levy, previously known as the Electronic Money Transfer Levy (EMTL) introduced in 2020 under…
The Central Bank of Nigeria (CBN) has generated a total of N192 million in non-refundable application and licensing fees following the approval of new operating licences for 82 Bureau De Change (BDC) operators, marking a key milestone in the ongoing reform of the foreign exchange market.The approvals were granted under the CBN’s revised regulatory and…
Abuja, Nigeria Nigeria’s headline inflation rate continued its sustained downward trajectory in November 2025, easing to 14.45 per cent year-on-year, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). This represents a 1.6 percentage-point drop from the 16.05 per cent recorded in October 2025 and marks the…
Lagos, Nigeria In a sweeping change, the CBN has scrapped all limits on cash deposits and significantly increased weekly cash withdrawal ceilings for individuals and corporate bodies. The policy shift is contained in a circular titled “Revised Cash-Related Policies” signed by Dr. Rita I. Sike, Director of Financial Policy & Regulation. The new rules take…
LAGOS, Nigeria – November 30, 2025 – In a resounding vote of confidence for President Bola Tinubu’s reform agenda, foreign capital inflows into Nigeria skyrocketed to $20.98 billion in the first 10 months of 2025 – the highest tally in nearly a decade – underscoring a dramatic turnaround from the lean years of currency controls…
Seven of Nigeria’s leading banks have collectively paid ₦674.68 billion in taxes to the federal government in the first half of 2025, marking a significant rise from the ₦588.25 billion recorded in the same period of 2024. The latest figures highlight the increasing contribution of the financial sector to national revenue at a time when…
Abuja, November 26, 2025 – The Central Bank of Nigeria (CBN) has opted to maintain its benchmark Monetary Policy Rate (MPR) at 27 percent, extending a cautious pause on further monetary adjustments as inflation continues its seventh consecutive month of deceleration. The decision, announced by CBN Governor Olayemi Cardoso at the conclusion of the Monetary…
The Central Bank of Nigeria (CBN) has issued a sharp warning that Zuldal Microfinance Bank Limited is operating illegally. According to the CBN, the entity claims to have branches in Lagos, Abuja, Kaduna, and Kano, but it is not licensed to carry out any form of banking or microfinance business in Nigeria. In a statement…