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The Nigerian equities market began the trading week on a positive note, with the All-Share Index (ASI) gaining 161 points to close at 196,968.15. This upward movement pushed the market capitalization to approximately N126.59 trillion, reflecting continued investor confidence despite broader macroeconomic pressures. Monday's session saw a notable improvement in market activity, with trading volume ...
Jaiz Bank Plc, Nigeria's premier non-interest financial institution, has officially announced the appointment of Omolara Muinat Ismail as Executive Director in charge of Business Development. This strategic move, which has received the formal confirmation of the Central Bank of Nigeria, is designed to strengthen the bank's leadership capacity as it seeks to accelerate growth within ...
...says Middle East crisis threatens Nigeria's fiscal gains Pedro Omontuemhen, the Oil & Gas Leader for West Africa at PwC Nigeria has warned that domestic refining cannot fully insulate the economy from a total global supply chain collapse. Speaking on CNBC Africa’s Closing Bell, Omontuemhen explained that Nigeria’s current output of 1.5 to 1.6 million barrels per ...
The Central Bank of Nigeria (CBN) has announced a significant milestone in its industry-wide recapitalization exercise, with 30 banks successfully meeting the new capital requirements ahead of the March 31st deadline. The recapitalization exercise launched in 2024, aims to fortify the stability and resilience of the nation’s financial system by ensuring lenders maintain robust capital ...
At the prestigious Africa Week 2026 hosted by King’s College London, Governor Babajide Sanwo-Olu pivoted the global conversation on urban governance, asserting that Lagos must no longer be viewed through the restrictive lens of a problem to be managed. Instead, he presented a compelling narrative of a city being strategically unlocked as a platform for economic agency, ...
Quest Merchant Bank Limited has officially fulfilled the ₦50 billion minimum capital requirement mandated by the Central Bank of Nigeria (CBN) for merchant lenders. In a statement released on Thursday, the bank noted that this achievement significantly strengthens its capital base and enhances its capacity to drive Nigeria’s economic transformation. This milestone is viewed as ...
In a decisive move to bolster national economic resilience, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has announced that the nation’s total gold reserves have reached $3.5 billion. This milestone, revealed during a workshop focused on maximizing Nigeria’s mineral wealth, marks a pivotal shift in the apex bank’s strategy to diversify foreign reserves and ...
No fewer than 12 states across Nigeria have officially enacted the Tax Harmonization Law, Dr. Taiwo Oyedele, the Minister of State for Finance (designate) has revealed. Speaking during the graduation ceremony for the MTN Foundation’s Young Innovators and Entrepreneurs Training Initiative held at the Continental Hotel in Abuja, Oyedele noted that the reform momentum is ...
Minister of State for Finance designate, Taiwo Oyedele has said Nigeria’s tax reforms offer a unified, transparent, and predictable framework for business planning, investment risk assessment, and productive capital flow. Speaking at the Third PUU Capital Market Colloquium in Abuja, Oyedele declared that the federal government’s tax and monetary policy reforms have fostered exchange rate ...
Following the Central Bank of Nigeria’s (CBN) decision to trim the Monetary Policy Rate (MPR) by 50 basis points to 26.50%, global brokerage firm EBC Financial Group (EBC) has warned that the success of this easing cycle hinges entirely on the stability of the Naira and foreign exchange (FX) liquidity. The rate cut, announced following ...
The National Insurance Commission (NAICOM) and the Bureau of Public Procurement (BPP) formalized a landmark institutional alliance on Monday, signing a Memorandum of Understanding (MoU) designed to embed rigorous risk management into the core of Nigeria’s public contracting framework. Executed at NAICOM’s headquarters in Abuja by the Commissioner for Insurance, Olusegun Ayo Omosehin, and BPP ...
The Acting Executive Chairman of the Federal Capital Territory Internal Revenue Service (FCT-IRS), Michael Ango, has urged all taxable residents within the Federal Capital Territory (FCT) to file their personal income tax returns on or before March 31, 2026. He made the call as part of efforts to boost voluntary tax compliance under Nigeria’s new ...
The World Bank Country Director for Nigeria, Dr Mathew Verghis, has commissioned seven legacy projects executed by the administration of Governor Babaganda Umara Zulum of Borno State. The projects, comprising a flyover bridge, three state-of-the-art mega schools and three dual-carriageway road projects, represent Zulum's giant strides in Borno’s post-insurgency urban renewal and human capital development ...
The Nigerian Naira faced a complex trading session on Thursday as the Central Bank of Nigeria (CBN) actively intervened in the foreign exchange market to manage the currency’s volatility. Following a significant policy shift by the Monetary Policy Committee (MPC) earlier this week, the Naira has shown contrasting movements across the official and parallel market ...
The Nigeria Deposit Insurance Corporation (NDIC) has intensified its efforts to recover outstanding debts from nearly 600 liquidated financial institutions to facilitate the payment of uninsured deposits. Speaking at a sensitization seminar for Debt Recovery Agents in Abuja on Thursday, Patricia Okosun, Director of the Asset Management Department, revealed that the Corporation is currently managing ...
In a strategic move to standardize and accelerate non-interest financial operations in Nigeria, The Alternative Bank (AltBank) has officially joined the International Islamic Financial Market (IIFM). This partnership integrates AltBank into a global network of elite institutions, ensuring that its Shari’ah-compliant transactions are governed by the same rigorous documentation and market guidance used in the ...
CEO of ThriveAgric, Uka Eje has advocated for data-driven agro-finance during a high-level engagement in Cairo last week. Uka joined a distinguished gathering of African Central Bank Governors, including Nigeria’s Olayemi Cardoso, to discuss the future of agricultural funding on the continent. Participating in a session titled “The Great Debate,” Eje represented the AgTech sector in a critical discussion ...
The Alternative Bank (AltBank) has opened a new branch in Ondo State with plans to deploy sector specific financing solutions in the state. In a statement issued on Tuesday, the Bank reinforced its commitment to deepening ethical finance and driving inclusive economic growth across Nigeria. With Ondo State’s economy anchored largely on agriculture, particularly cocoa production, poultry farming, ...
The implementation of the landmark Nigeria Tax Act, 2025 (NTA) is set to trigger significant disruption across the nation's fiscal space, with Transfer Pricing (TP) maintaining its status as a high-stakes risk area for corporations throughout 2026. According to a 2026 outlook report released by Andersen in Nigeria, the introduction of the unified NTA has ...
The Debt Management Office (DMO) is set to open subscriptions for Federal Government of Nigeria (FGN) bonds valued at N800 billion today. This massive monthly auction comes at a strategic pivot point for the Nigerian fixed-income market, as authorities seek to capitalize on a recent surge in investor appetite following better-than-expected inflation data. The auction ...
The Nigerian capital market has reached a historic peak, with the total market capitalization of listed equities soaring to approximately N97.9 trillion. The Accountant General of the Federation (AGF), Shamsedeen Babatunde Ogunjimi, revealed these figures on Monday, attributing the growth to aggressive equity price appreciation and a robust return of investor confidence in domestic securities. ...
Ojaja Pan Africa Limited has successfully redeemed its Series 1 and Series 2 Commercial Paper (CP) issuances, worth a combined N9.05 billion, signaling robust liquidity despite a challenging high-interest-rate environment. The redemption included N2.14 billion for the Series 1 tranche, which matured in November 2025, and N6.90 billion for the Series 2 tranche, settled on ...
In a notable shift in monetary strategy, the Central Bank of Nigeria (CBN) has acted to slow the rapid appreciation of the naira last week by mopping up approximately $189.80 million from the local foreign exchange market. The intervention marks a rare move by the apex bank to purchase dollars rather than sell them, a ...
