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Economy
The Central Bank of Nigeria (CBN) has said that the recent stability in the foreign exchange (FX) market is the result of rising FX inflows, stricter market discipline and a full return to traditional monetary policy. The Director of Monetary Policy at the CBN, Dr. Victor Eboh made this known in Abuja during a Business, ...
Transport
The Nigerian Railway Corporation (NRC) has refuted claims that passengers were left stranded on the Abuja–Kaduna Train Service (AKTS) on Thursday, insisting that the brief disruption resulted from a necessary safety procedure. In a statement issued on Thursday, Managing Director of the NRC, Dr. Kayode Opeifa, apologised to passengers affected by the delay and described ...
Business Direct
...set to rollout single-digit interest loans to artisanal fishermen The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has revealed that Nigeria loses billions of dollars annually to illegal, unreported, and unregulated (IUU) fishing, stressing that the Federal Government is adopting new technological measures to curb the menace and protect the nation’s marine resources. This ...
Money market
The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have called for stronger financial reforms and regulatory collaboration to enhance the stability, resilience, and inclusiveness of Nigeria’s financial system. The call was made on Thursday in Abuja during the Business, Economy and Financial Reporting Training for Journalists, organised by Premium Times ...
Capital Market
The Federal Competition and Consumer Protection Commission (FCCPC) has directed all digital lending operators in Nigeria to comply fully with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 by Monday, January 5, 2026. The new regulation, which took effect on July 21, 2025, under the Federal Competition and Consumer Protection Act (FCCPA) 2018, ...
News
…pledges crackdown on illegal fishing Nigeria’s Minister of Marine and Blue Economy, Dr Adegboyega Oyetola (CON), has been elected as the Chairman of the Conference of Ministers of the Fisheries Committee for the West Central Gulf of Guinea (FCWC). The election took place on Thursday during the 16th Conference of Ministers of the FCWC, hosted ...
News
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, CON, has reaffirm Nigeria’s commitment to strengthening regional cooperation for sustainable ocean governance. Speaking at the 16th Conference of Ministers of the Fisheries Committee for the West Central Gulf of Guinea (FCWC), Oyetola welcomed delegates on behalf of President Bola Ahmed Tinubu, GCFR, and the ...
Aviation
The Minister of Aviation and Aerospace Development, Festus Keyamo, has clarified that all properties belonging to the Federal Airports Authority of Nigeria (FAAN) are public assets and cannot be sold or transferred to private individuals, amid recurring disputes over airport properties. Keyamo made the statement while addressing the press on ongoing efforts to resolve property ...
Business Direct
The Federal Inland Revenue Service (FIRS) has issued a notice regarding taxation on investments in short-term securities issued by the Federal Government of Nigeria. The announcement affects instruments such as government bonds, treasury bills, promissory notes, corporate bonds, financial papers, bills of exchange, and similar securities. Under the new regulations, a 10 per cent withholding tax (WHT) will be ...
Money market
Zenith Bank Plc has disclosed that its Staff Provident Fund, comprising salary contributions from employees, recently invested about ₦2.3 billion in the bank’s shares, highlighting the institution’s strategy to grow staff benefits through equity participation. Details of the transaction were contained in a director dealing notice filed with the Nigerian Exchange (NGX) on November 11, ...
Capital Market
Nigeria’s economy has maintained steady growth momentum for the 11th consecutive month, according to the latest Purchasing Managers Index (PMI) report released by the Central Bank of Nigeria (CBN) on Wednesday. The report revealed that the composite PMI for October 2025 stood at 55.4 points, up from 54.0 points recorded in September, signaling a stronger ...
Capital Market
Nigeria’s domestic debt profile has risen to about ₦79.90 trillion following the Senate’s approval of President Bola Tinubu’s request to obtain a fresh ₦1.15 trillion loan from the domestic debt market. The loan is intended to partially finance the ₦14.10 trillion deficit in the 2025 national budget, as part of the government’s efforts to sustain ...
Transport
The Nigerian Railway Corporation (NRC) has announced an ambitious plan to transition to electric traction within five years and double national rail capacity within a decade, as part of its long-term Vision 2-5-10-20 development framework. The Managing Director and Chief Executive Officer of the NRC, Kayode Opeifa, made the disclosure during the Seventh National Transport ...
News
The Nigerian Maritime Administration and Safety Agency (NIMASA), in collaboration with the Nigerian Ports Authority (NPA) and the Nigerian Shippers’ Council (NSC), has celebrated the 2025 Day of the Dockworker in Lagos, reaffirming government’s commitment to improving the welfare and working conditions of Nigerian dockworkers. The event, themed “Safe Port, Safe Ship,” highlighted the critical ...
Economy
The Bashir Adeniyi Centre for International Trade and Investment (BACITI) of the Nigerian Institute of International Affairs (NIIA) has called for African countries to take strategic steps to reposition their economies as discussions intensify over the renewal or redesign of the African Growth and Opportunity Act (AGOA), the United States’ long-standing trade preference programme for ...
Business
The Independent Media and Policy Initiative (IMPI) has revealed that the administration of President Bola Tinubu acquired military assets worth $801 million from the United States within 18 months as part of its defense modernization agenda. In a policy statement signed by its Chairman, Dr. Omoniyi Akinsiju, IMPI said the naira equivalent of the acquisition ...
Business Direct
...lists MOFI Real Estate Investment Fund on NGX The Federal Government is considering a review of the controversial Capital Gains Tax (CGT) slated for implementation in January 2026, Finance Minister and Coordinating Minister of the Economy, Wale Edun, has confirmed. Speaking at the listing of the MOFI Real Estate Investment Fund on the Nigerian Exchange (NGX) ...
Capital Market
MOFI lists real estate fund on NGX to boost affordable housing, deepen capital markets The Ministry of Finance Incorporated (MOFI) on Tuesday achieved a major milestone in Nigeria’s housing and capital market landscape with the listing of the commercial tranche of the MOFI Real Estate Investment Fund (MREIF) on the Nigerian Exchange Group (NGX). The ...
Capital Market
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said that the Federal Government’s ongoing economic reforms and fiscal consolidation efforts are critical to repositioning the Nigerian economy for sustainable growth. Cardoso stated this on Tuesday in Abuja while delivering a keynote address at the 2025 Annual Executive Seminar of the ...
Maritime and Blue Economy
The Managing Director of the Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has emphasized that Africa cannot achieve sustainable port growth without deeper regional cooperation, describing collaboration as the continent’s surest path to maritime and economic development. Dantsoho, who also serves as the President of the Port Management Association of West and Central Africa (PMAWCA), ...
