Central Bank of Nigeria
When you hear Central Bank of Nigeria, the government’s main financial authority responsible for managing the country’s money supply, setting interest rates, and overseeing banks. Also known as CBN, it’s the engine behind the Naira’s value, inflation control, and whether workers get paid on time. This isn’t just about numbers on a screen—it’s about whether a truck driver in Lagos can afford fuel, if a teacher in Kano can buy school supplies, or if a factory owner can pay his staff after a currency crash.
The CBN doesn’t work in a vacuum. When it changes interest rates or prints more cash, it ripples through every corner of Nigeria’s economy. That’s why the PENGASSAN strike, the union representing oil workers that shut down Sterling Oil’s headquarters over foreign labor violations ties directly to the CBN. The union’s demands aren’t just about jobs—they’re about who controls the money flow in Nigeria’s biggest industry. When the CBN tightens foreign exchange rules to protect the Naira, it hits oil companies hardest. And when those companies can’t pay local workers or hire locals as promised, unions like PENGASSAN step in. The CBN’s decisions on forex, subsidies, and banking licenses shape who gets rich, who gets laid off, and who gets ignored.
It’s the same story with inflation. When the CBN fails to control prices, the Naira loses value, and everyday goods get more expensive. That’s why people in Abuja or Port Harcourt are watching every CBN announcement. They’re not just tracking policy—they’re counting how much rice they can afford next month. The CBN’s moves also affect how foreign investors see Nigeria. If the bank looks unstable, money runs out. If it looks strong, companies like Xiaomi or Telkom FutureMakers might pour in cash to build tech startups or sell phones. That’s why the CBN’s relationship with the Nigeria oil labor, the workforce that keeps the country’s main export running, often under pressure from union demands and government quotas matters more than most headlines admit.
What you’ll find below isn’t just a list of articles. It’s a real-time look at how the Central Bank of Nigeria’s actions—whether it’s tightening cash flow, battling corruption in banking, or responding to strikes—connect to the lives of ordinary Nigerians and the broader African economy. From oil workers fighting for jobs to startups struggling for funding, these stories show the CBN isn’t just a building in Abuja. It’s the heartbeat of Nigeria’s financial survival.
