Latest in
The Nigerian Exchange kicked off the trading week on a bullish note as investors gained approximately ₦462 billion. This upward trajectory reflects strategic positioning by market participants in both growth and value stocks as anticipation builds for the release of first-quarter earnings reports. Positive sentiment dominated the bourse, pushing the primary performance indicators up by ...
The Centre for the Promotion of Private Enterprise has kicked against the World Bank’s recent policy advocacy, cautioning that a return to heavy reliance on fuel and food imports could reverse the country’s economic gains. In a policy brief issued by Chief Executive Officer Dr. Muda Yusuf, the think tank characterized the World Bank’s Nigerian ...
The Central Bank of Nigeria (CBN) has dismissed a viral image claiming to show a newly introduced ₦5,000 banknote, labeling the report as fake. On Thursday, an image circulated widely across social media platforms with users alleging that the apex bank had released a sample of a ₦5,000 note featuring the portrait of President Bola ...
Intra-African trade is on track to reach $230 billion by 2026, driven by the accelerated implementation of the African Continental Free Trade Area (AfCFTA), the newly released "African Trade and Economic Outlook 2026" report by Afreximbank has revealed. Group Chief Economist and Managing Director of Research at Afreximbank, Yemi Kale noted in the report's foreword ...
By Ejire Folakunmi The African Export-Import Bank has reported robust financial results for the year ended December 31, 2025, with its total assets and contingencies rising by 21 per cent to $48.5 billion, up from $40.1 billion recorded in the previous year. The bank disclosed this in a statement released from Cairo on April 9, ...
...encourages CBN to tighten monetary policy The World Bank has called on the Nigerian government to utilize current economic windfalls to strengthen fiscal cushions and protect the nation’s most vulnerable citizens. In its April 2026 Nigeria Development Update (NDU) titled "Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development," the Bank emphasized that ...
The Nigerian Naira exhibited a resilient performance as the foreign exchange market re-opened for full activity on Tuesday, April 7, 2026, following the Easter break. The currency maintained a steady trajectory despite marginal intraday fluctuations, closing the session at an implied rate of ₦1,383.13/$1. According to market data seen on the Central Bank of Nigeria ...
By Damilare Adeleye The African Development Bank Group (AfDB), the African Union Commission (AUC), the United Nations Development Programme (UNDP), and the United Nations Economic Commission for Africa (UNECA) have raised concerns over growing global economic volatility. They warned that escalating shocks particularly from the ongoing Middle East conflict pose significant risks to African economies. In ...
The Presidential Enabling Business Environment Council (PEBEC) has directed all federal Ministries, Departments, and Agencies (MDAs) to immediately pause the introduction of new policies and major regulatory changes. In a statement signed by the Director General of PEBEC, Zahra Auda, the council explained that this directive is in line with the Federal Government's commitment to ...
The National Insurance Commission (NAICOM) is set to increase the minimum capital base for microinsurance firms from the previous tiered levels to a uniform ₦3 billion. Under the previous structure, unit microinsurers were required to hold ₦40 million, state microinsurers ₦100 million, and national microinsurers ₦600 million. This change is part of the Nigeria Insurance ...
The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the Central Bank of Nigeria (CBN) against further monetary tightening, warning that additional interest rate hikes could be counterproductive to the nation's fragile economic recovery. In its Q1 2026 Economic Review and Q2 Outlook, the CPPE acknowledged that while the MPC reduced the policy ...
Nigeria is set to receive an estimated ₦8.84 trillion in liquidity inflows in April 2026, according to data compiled by the Financial Market Dealers Association (FMDA). The FMDA data reveals that these inflows will be driven largely by maturing Open Market Operations (OMO) and Treasury bills. This anticipated inflow represents a 15.5% decline from the ...
Nigeria’s naira closed a shortened trading week largely unchanged in the official market, even as the country’s external reserves extended a 13-day decline. This underscores persistent pressure on foreign-exchange buffers despite firmer oil prices and continued Central Bank support. Data from the Central Bank of Nigeria (CBN) showed the naira appreciated slightly by N3.09 to ...
Some residents and foodstuff traders in Lagos have expressed differing views over low patronage and the cost of foodstuffs during this year’s Easter celebration. The residents and traders spoke in separate interviews on Saturday in Lagos on Easter sales and patronage. A foodstuff trader at Iyana-Ipaja Market, Mr Samuel Nwabueze, decried the low patronage during ...
By Austine Agbo Emmanuel The Nigeria Sovereign Investment Authority (NSIA) has reported a net asset value of N4.88 trillion for the 2025 financial year, reflecting sustained growth driven by improved earnings, disciplined investment strategy, and a diversified portfolio. The Managing Director of the Authority, Aminu Umar-Sadiq, disclosed this during the presentation of the institution’s financial ...
Latest data from the Central Bank of Nigeria (CBN) has revealed that Nigeria’s broad money supply (M3) fell slightly to N123.15 trillion in February 2026, representing a minor decrease from the N123.36 trillion recorded in January 2026. Despite this monthly dip, the total liquidity in the economy remains significantly higher than the N110.71 trillion reported ...
By Damilare Adeleye The Nigerians in Diaspora Commission (NiDCOM) has noted that the 2026 edition of the Nigeria Diaspora Economic Conference (NIDEC) will translate diaspora resources to tangible investment opportunities at home. The 2026 edition of the Nigeria Diaspora Economic Conference (NIDEC) is scheduled to take place from August 13 to 15, 2026, at the Apollo Convention ...
The Nigerian Naira has kicked off the month of April recording a marginal gain against the US Dollar in the official foreign exchange market on Thursday, April 2. Data from the Central Bank of Nigeria (CBN) and official trading platforms indicate that the Naira is currently trading at an average of ₦1,380.75 per dollar. This ...
...as economy gains N4.65trn fresh capital injection By Damilare Adeleye The Central Bank of Nigeria has officially concluded its recapitalisation exercise, with 33 of the country's 38 banks successfully meeting the new minimum capital requirements. According to a joint statement from the Bank's Directors, the 24-month initiative generated a total of N4.65 trillion in new ...
The Central Bank of Nigeria has issued a mandatory directive to all financial institutions, including commercial banks and payment service providers, to submit comprehensive reports on their cybersecurity resilience. This move, announced through the Compliance Department, marks the formal deployment of the Cybersecurity Self-Assessment Tool, a structured supervisory instrument designed to evaluate the industry's readiness ...
The Nigerian stock market closed Tuesday’s trading recovering a portion of its previous losses as targeted buying interest in heavy-weight tickers bolstered the benchmark indices. The All-Share Index appreciated by 0.40% to settle at 201,287.78 points, a notable climb from the 200,484.43 points recorded during the previous session. This upward movement pushed the year-to-date return ...
Guaranty Trust Holding Company PLC (GTCO) has reported a record-breaking profit before tax of N1.16 trillion for the 2025 financial year, representing a massive jump from the N607.7 billion recorded in the previous year. According to the audited financial statements filed on NGX, the Group’s profit after tax settled at N945.3 billion, solidifying its position ...
