By Adedapo Adesanya

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has left the interest rates unchanged as it awaits more data to determine the inflation outlook.

According to an announcement by the Governor of the apex bank, Mr Yemi Cardoso, at the end of the 300th MPC meeting on Tuesday, the committee retained the Monetary Policy Rate (MPR) at 27.50 per cent, the Cash Reserve Ratio (CRR) at 50 per cent, and the Liquidity Ratio (LR) at 30 per cent.

This was widely expected as inflation cooled to 23.71 per cent in April 2025, according to the latest report by the National Bureau of Statistics (NBS).

Although at 23.71 per cent, the inflation levels remain elevated and strains on the Naira have only recently abated after an initial selloff in April caused by a slump in the price of oil, the country’s main export.

Business Post reports that the World Bank had recently projected that Nigeria’s inflation may moderate to 22.1 per cent this year, higher than the 15 per cent targeted by the Bola Tinubu-led administration.

There are also indications that if inflation slows down in the next two months, Nigeria might start cutting rates in the next half of 2025.

Nigeria may see “some room for the CBN to cut rates” in the second half of the year as disinflation is expected, Mr Gbolahan Taiwo, an analyst at JPMorgan Chase & Co. said in a client note.

The MPC meeting is the first rate-setting meeting since the US imposed a 10 per cent universal tariff and slapped China, Africa’s largest trading partner — with a 145 per cent levy before reducing it to 30 per cent for 90 days.

By Adedapo Adesanya

The Minister of Finance, Mr Wale Edun, has emphasised the crucial role of the capital market in achieving the nation’s ambitious goal of becoming a one-trillion Dollar economy.

Speaking at the Capital Market Committee (CMC) meeting, the Minister highlighted the market’s transformation since 2015, noting that with improvements in governance structures, new products and platforms, a stronger regulatory environment, and growing investor participation, the capital market is capable of delivering Nigeria’s proposed $1 trillion economy.

Mr Edun, who was represented by the Minister of State for Finance, Mrs Doris Uzoka-Anite, said the implementation of the Capital Market Master Plan (2015-2025) had been instrumental in increasing the market’s contribution to the national economy, developing a sophisticated market structure, and improving competitiveness.

He said the revised plan prioritises digitalisation, innovation, sustainability, inclusion, and capital formation, aligning with the broader economic reform agenda, adding that the passage of the new act modernises the legal and regulatory framework, streamlines enforcement mechanisms, and provides clarity on emerging areas such as digital assets and crowdfunding.

On the challenges and opportunities inherent in the Act, the minister said it would help deepen market participation, and to ensure regulatory coordination remains tight.

The Minister noted that the government is committed to creating an enabling environment for private sector innovation to flourish within a fair and transparent environment, saying the market is expected to contribute to the economy, serving not only for capital raising but also as a vehicle for wealth creation, economic inclusion, and long-term national resilience.

The finance minister explained that with SEC undertaking regulatory reforms, including joining the GBMC Network of IOSCO in promoting and implementing ISSB Standards, among others, the domestic economy recorded the fastest GDP growth in about a decade in 2024, driven by a strong fourth quarter and improved fiscal position.

On his part, the Director-General of SEC, Mr Emomotimi Agama, emphasised the Commission’s commitment to regulatory reforms and capital market growth.

According to him, the enactment of the Investment and Securities Act (ISA) 2025 marks the beginning of a transformative new era for the capital market.

Mr Agama highlighted the commission’s efforts to deepen engagement with stakeholders, ensure widespread dissemination and understanding of the new law, and drive innovation and compliance.

He also emphasised the importance of restoring investor confidence, bringing timely relief to aggrieved investors, and creating a platform for broad-based participation of Nigerians in wealth creation, noting that the Commission has constituted an implementation team to thoroughly engage with every provision of the ISA 2025 and set up a dedicated sensitisation team to deepen public understanding of the new law.

He said a podcast series had also been launched to simplify the ISA 2025 and make it accessible to all Nigerians.

Mr Agama highlighted the Nigerian capital market’s impressive performance in 2024, with the NGX All-Share Index increasing by 37.65 per cent and market capitalisation growing by 53.39 per cent, noting the commission’s efforts to enhance regulatory efficiency, promote market integrity, and protect investors.

He emphasised the importance of financial inclusion and investor education, citing the commission’s initiatives to empower women, youth, and grassroots communities.

He also highlighted the commission’s commitment to technology-driven solutions, including the launch of an e-survey to assess emerging technology adoption in the Nigerian capital market.

Mr Agama emphasised the commission’s commitment to fostering growth, transparency, and sustainability in the capital market, and looked forward to fruitful deliberations at the meeting.

By Adedapo Adesanya

The Nigeria Postal Service (NIPOST) will deliver financial services across Nigeria and beyond, following the renewal of its International Money Transfer Operator (IMTO) and Super Agent licenses with the Central Bank of Nigeria (CBN).

This was disclosed by the Postmaster General and CEO of NIPOST, Mrs Tola Odeyemi, disclosed this during a Channels TV programme, monitored by Business Post on Monday.

According to her, the postal service is seeking to boost its revenue through the reactivation of these two services.

She also disclosed that NIPOST surpassed N10 billion last year driven by increased digital technology adoption.

According to her, the service has renewed its licenses with) and paid some fines to begin delivery of financial services after about eight years since the business was shut down.

“NIPOST has two licenses, a Super Agents license as well as an International Money Transfer Operator license. Unfortunately, something had happened with that IMTO license, and it was shut down for about seven, eight years.

“But last year, we were able to pay off all the fines, and it’s now back up,” she said.

Mrs Odetola said NIPOST has begun signing bilateral agreements with different countries to facilitate cross-border payments and remittance.

According to her, African countries are the main target because that is where most Nigerians face challenges in cross-border payments, revealing that some of Nigeria’s West African neighbours are already on board.

“Sending money from Cameroon to Nigeria is harder than sending money from the US to Nigeria. So, right now we have signed bilaterals with Togo, Benin, and I think a couple of other countries.

“There’s a particular agreement that right now is going through the justice system,” she said.

Speaking on the exceeding the N10 billion annual benchmark last year, Mrs Odetola said that the record would become insignificant with the new push into other businesses.

“We actually surpassed N10 billion last year, and that was just by digitizing some of our processes and plugging leakages.

“I think for the Nigerian Postal Service, N10 billion naira is a scratch,” she added.

According to her, the major services of NIPOST can generate much more for the nation, even as operations within the organization have been drastically optimized to ensure optimal service delivery that yields more revenue.

The Postmaster General highlighted several transformation strategies, including deeper integration with Nigeria’s fast-growing e-commerce space, expanding digital services like PostMoni, and leveraging the National Addressing System to boost financial inclusion and security.

She explained that if the Nigeria Police adopts NIPOST’s addressing framework, the Force can better combat crimes and improve emergency responses.

Recall that last week, NIPOST announced partnership with KLM Royal Dutch Airlines to improve international mail delivery services.