The Director, Consumer Protection and Financial Inclusion Department, CBN, Dr. Aisha Isa-Olatinwo, disclosed this at a virtual Consumer Protection Town Hall meeting titled “Ask the Regulator”, organized by Enhancing Financial Inclusion and Advancement (EFInA).
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The CBN disclosed this in a document titled, Frequently Asked Questions on Current Reforms of the BDC sector.
The development was contained in a circular issued by the CBN to all banks, titled: “Revised Cash-Related Policies.”
A quiet but growing debate is emerging within the financial community about Nigeria’s inflation numbers and macroeconomic figures being massaged.
The financial statements of Nigeria’s top manufacturers for the first nine months of 2025 show a coordinated withdrawal from bank credit. Their aggregate bank borrowings plunged from N2.526 trillion in 2024 to N2.014 trillion in 2025, a dramatic 20.3 percent drop.
It said that the grave allegations are documented in the latest annual report published by the Auditor-General on September 9, 2025.
Nigeria’s economic destiny will not be determined in banking halls but the fields, factories, and workshops where real value is created.
The lawmakers also urged President Bola Tinubu to reconstitute the defunct Presidential Committee on Cassava Initiative to enhance the welfare of cassava farmers and reposition the subsector for export competitiveness.
The apex bank in Nigeria in a statement, which it issued to newsmen on Tuesday, said such reporting is entirely inaccurate and misleading.
Vice President Shettima made this statement at the funeral reception of the deceased held in Ikot Ekpene, Akwa Ibom State on Saturday.
Governor Cardoso said this on Friday in Washington DC, United States of America at the end of the Annual Meetings of the IMF/World Bank.
The agreement, sealed on Thursday on the sidelines of the ongoing International Monetary Fund and World Bank Annual Meetings in Lima, Peru, was signed by the CBN Governor, Olayemi Cardoso, and his Angolan counterpart, Manuel Antonio Tiago Dias.
Justice Emeka Nwite in a ruling held that the AG had locus standi (legal right) to file the suit on behalf of the local government authorities.
The regulator, however, assured that work is progressing on the governance structure and API standardisation required for a safe and functional system.
The Governor of the CBN, Olayemi Cardoso, gave the assurance on Wednesday in Washington D.C, United States of America.
FCCPC, in a statement by Mr. Ondaje Ijagwu, its Director of Corporate Affairs, in Abuja on Monday, said the draft guideline followed the Consumer Complaints Data Report published by the commission in September.
CBN Governor, Dr. Olayemi Cardoso, stated this on Thursday during the CBN Fair held in Calabar, Cross River State, with the theme: “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development.”
This followed President Tinubu’s directive through Vice President Kashim Shettima during a meeting with NAHCON’s management team on Monday.
Cardoso stated this while addressing youths, whom he referred to as Nigeria’s greatest assets, at the inaugural CBN Governor’s Lecture held at Lagos Business School, under the theme, ‘Next Generation Leadership in Monetary Policy and Nation Building.’
Nigeria’s debt trajectory has reached alarming proportions. As of the first quarter of 2025, the nation’s public debt stood at N149.39 trillion, with external obligations of about $45.9 billion and domestic debt exceeding N78 trillion. Experts warn that the situation is unsustainable, with debt servicing consuming over 90 percent of revenues. This leaves little room for investment in critical infrastructure, schools, or hospitals.