Decision of the Federal High Court in the Case of Stockland Nig. Ltd. & 2 Others VS CBN & 5 Others The Federal High Court on 2nd April 2008 delivered judgment in the above case which was instituted by the Plaintiffs to challenge the revocation of the banking licence of SGBN by the CBN in 2006 owing to the erosion of its capital and its poor financial condition. The court had ruled that while it is the prerogative of CBN, as the regulatory body for banks in Nigeria, to revoke a banking licence in deserving situations, SGBN should have been given ample time to meet the condition attached to the forbearance of a considerable portion of its huge indebtedness to CBN. click here for details
MPC Meets: Moves To Tackle Inflation The Monetary Policy Committee met on Tuesday, April 1, 2008 and expressed concern over the current rate of inflation. The committee therefore, resolved to raise the monetary policy rate (MPR) by 50 basis point from 9.5 to 10.0 per cent in order to check the inflationary trend. click for more
CBN Currency Centre Lokoja Commence Operations In his address at the occassion, the CBN Governor, Prof. Chukwuma C. Soludo, CFR, justified the decision of the CBN Board about two years ago to establish the presence of Central Banks Branches in all the 36 states of the federation within the shortest possible time. The Central Bank of Nigeria Currency Centre in Lokoja has commenced full banking operations and services following the opening ceremony on Monday, March 10, 2008... click for details
President Umaru Musa Yar'Adua launches N50 Billion Micro Credit Development Fund His Excellency, Alhaji Umaru Musa Yar'Adua, President, Commander in Chief of the Armed Forces, Federal Republic of Nigeria launched the N50.0 Billion Micro Credit Development Fund at the National Seminar on "Banks and the Nigerian Economy" held at the Sheraton Hotel and Towers, Abuja on the 12th of February 2008. The Governor, Central Bank of Nigeria Prof. Chukwuma C. Soludo, CFR presented a paper on "Banks and the National Economy: Progress, Challenges and the Road Ahead" ..click for his speech
MPC Meets - focuses attention on the challenges for 2008 The Monetary Policy Committee met on Tuesday, February 5, 2008 to review the major macroeconomic developments in the domestic and international environments since the last meeting which took place on December 4, 2007. The implementation of the fiscal, monetary and exchange rate policies as well as the challenges were also reviewed. Read more
CBN hosts International Conference on Inflation Targeting Towards migrating to Inflation Targeting as a framework for the conduct of Monetary Policy in Nigeria come 2009, the Bank took a giant stride when it held an international conference at the CBN Main Auditorium on 19 January 2008. Nine papers were delivered during the conference by resource persons from the United States of America, United Kingdom, Israel, South Africa and the International Monetary Fund as well as the African Economic Research Consortium. Download all the papers here.
CBN Refunds Excess Paris Club Debt Deductions To States. Following the discovery of excess deductions from the statutory allocations of some states in the course of offsetting the Paris Club debt stock, the Central Bank of Nigeria has concluded arrangements to refund such excess deductions to the affected states. The bulk of such deductions were from the excess crude and the Petroleum Profit Tax (PPT) accounts. Foreign Operations Circular details modalities for effecting the refunds. Meanwhile, the Development Finance Department has posted speeches and papers presented at the 2nd International Conference on Microfinance and Microentrepreural Award Ceremony which took place on January 17 & 18 January, 2008 in Abuja.
List of Community Banks That Have Sucessfully Converted to Microfinance Banks as at December 31, 2007 Following the expiration of December 31, 2007 deadline for all existing community banks to re-capitalize to a minimum of N20 million shareholders' fund, unimpaired by losses, and consequently convert to microfinance banks (MFB), it is imperative to publish the outcome of the conversion exercise for the guidance of the general public. Accordingly, the attached list represents 607 erstwhile community banks that have successfully converted to microfinance banks with either final licence or provisional approval. This list does not, however, include new investors that have been granted Final Licences or Approvals-In-Principle to operate as microfinance banks since the launch of Microfinance Policy on December 15, 2005
CBN Classifies FGN Bonds as Liquid Assets To help deepen the financial market and enhance the information content of the yield curve for effective price discovery as well as bench-mark international best practices, the Deposit Money Banks and Discount Houses are hereby informed that all Federal Government of Nigeria bonds actively traded on the secondary market would henceforth qualify as liquid assets. See Circular for details
Monetary Policy Communiqué NO. 53, December 4th, 2007 The Monetary Policy Committee (MPC) raised the monetary policy rate by 50 basis points from 9.0 per cent to 9.5 per cent. The committee noted with satisfaction the decline on Year on Year (Headline) Inflation from 6.4 per cent in June 2007 to 4.1 per cent in September 2007. However, in October, the year on Year Inflation rose slightly to 4.6 per cent, reflecting increases in the prices of utilities, transport, hotel, tourism and education. Details in Central Bank of Nigeria CommuniquéNo. 53 of the Monetary Policy Committee, December 4, 2007.
201st MPC Meeting to hold in Abuja. The regular meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria is scheduled to hold on Tuesday, December 4, 2007 at the Bank's Headquarters in Abuja. The Committee will review developments in major indicators of economic performance such as output, prices, including interest and exchange rates, balance of payments since the meeting of Wednesday, October 3, 2007. It is also expected to examine the outlook for the first quarter of 2008. The implications of the development will be reviewed and the committee will decide whether to raise, reduce or leave the monetary policy rate unchanged.
News 
In his address at the occassion, the CBN Governor, Prof. Chukwuma C. Soludo, CFR, justified the decision of the CBN Board about two years ago to establish the presence of Central Banks Branches in all the 36 states of the federation within the shortest possible time. The Central Bank of Nigeria Currency Centre in Lokoja has commenced full banking operations and services following the opening ceremony on Monday, March 10, 2008... 
His Excellency, Alhaji Umaru Musa Yar'Adua, President, Commander in Chief of the Armed Forces, Federal Republic of Nigeria launched the N50.0 Billion Micro Credit Development Fund at the National Seminar on "Banks and the Nigerian Economy" held at the Sheraton Hotel and Towers, Abuja on the 12th of February 2008. The Governor, Central Bank of Nigeria Prof. Chukwuma C. Soludo, CFR presented a paper on "Banks and the National Economy: Progress, Challenges and the Road Ahead" ..
The Governor, Prof. Chukwuma C. Soludo CFR, on Monday 27th August 2007, addressed staff on the development arising from the four-point 
