The joint technical review is expected to identify implementation bottlenecks, accelerate project execution and ensure that ongoing AfDB-supported operations are aligned with the Federal Government’s development objectives.
According to Cardoso, with the current stability in the market, there was no better time to adjust the rate than now.
The order followed a meeting between the central bank and managing directors of commercial banks on August 27, as well as an industry-wide review of how banks employ foreign personnel.
He wrote: “It’s also a reminder that who you become tomorrow is often shaped by the foundation you lay today; the discipline, hard work, and consistency you put in when no one is watching.”
Each company solves a different challenge. Each strengthens the others.Together, they create an integrated financial ecosystem designed to ensure capital flows more efficiently from where it exists to where it is needed most.
With the theme, “Building a Resilient Economy in an Era of Disruptions: Strategic Imperatives for the Banking and Financial Services Industry,” the conference brought together senior banking executives, policymakers, economists, government officials, business leaders and development finance experts, including representatives of the World Bank.
Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.
The apex bank lends money to banks through the SLF at interest rate of 500 bases points (bps) above the Monetary Policy Rate (MPR).
OPay had appointed Citigroup, Deutsche Bank, and JPMorgan Chase to work on its planned US IPO, with the company targeting a valuation of about $4 billion.
The Education Minister said that the measures are aimed at strengthening NELFUND’s financial capacity, with more than 1.2 million students currently benefiting from the scheme.
