CBN policy Archives - Independent Digital News Network

What Emefiele Told Buhari: Memo Reveals Naira Redesign Approval Trail

A memo submitted by former Central Bank Governor Godwin Emefiele to then President Muhammadu Buhari has surfaced, outlining the approval process behind Nigeria’s controversial naira redesign. The document, now cited in court proceedings, traces institutional consent at the highest level and intensifies scrutiny of responsibility, due process, and the legal weight of executive approval in one of Nigeria’s most disruptive monetary decisions.

CBN Removes Cash Deposit Limits but Maintains Harsh Withdrawal Caps in 2026 Policy Shift

IDNN4 months ago4 months ago0

The Central Bank of Nigeria has abolished all cash-deposit limits for bank customers under a new policy taking effect January 1, 2026. But while customers can now deposit any amount freely, strict weekly withdrawal caps remain in place—₦500,000 for individuals and ₦5m for corporates—deepening nationwide debate over the future of cash, liquidity access and Nigeria’s evolving cashless economy.

Naira Comeback on Carry Trade and Softer Dollar

IDNN6 months ago6 months ago0

The naira rallied this week, buoyed by carry trade inflows and a weaker U.S. dollar. Analysts say CBN’s policy easing has boosted investor appetite for Nigerian assets.