The CBN has announced a temporary withdrawal of the Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the fiscal years 2024 – 2025, which were originally published on Tuesday, September 17, 2024.

The policy documents indicate that the Bank plans to maintain its Ways and Means Advances to the Federal Government at a limit of 5 percent for the fiscal years 2024-2025. This stands in opposition to a bill approved by the National Assembly, which increased the maximum borrowing threshold in the Act from 5 percent to 10 percent.

One notable point of contention was the reintroduction of the cybersecurity levy, which had been put on hold earlier this year in response to significant public opposition.