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The Director General of the National Environmental Standards and Regulations Enforcement Agency (NESREA), Professor Innocent Barikor, has publicly endorsed the National Single Window (NSW) project, labeling it a monumental breakthrough for trade facilitation in Nigeria. The Director General made these remarks on Wednesday in Abuja during a sensitization webinar organized by the NSW Secretariat. The ...
The Nigerian stock market retreated into bearish territory on Wednesday as investors aggressively offloaded positions across major sectors ahead of the scheduled Eid-el-Fitr public holiday. The downturn effectively eroded gains recorded in previous sessions, as selling pressure on high-cap and mid-cap stocks dampened market sentiment. The benchmark All-Share Index (ASI) fell by 0.69 percent to ...
The Nigerian naira has demonstrated resilience during the mid-week trading session, holding firm near the N1,850 resistance level against the British pound. Data from the official Nigerian Foreign Exchange Market (NFEM) window indicates the naira traded at an average of N1,844/£, maintaining a stable position despite broader pressures in the emerging market landscape. This stability ...
The Nigerian naira demonstrated notable resilience in the regulated market this Tuesday, appreciating by 0.99% to close at ₦1,344.42 per dollar. This strengthening of the local currency within the Nigerian Foreign Exchange Market (NFEM) signals a shift in market sentiment, as the pace of foreign payments slowed in comparison to available dollar liquidity. Data from ...
By Denis Matthew Moniepoint Microfinance Bank has formally dismissed allegations suggesting it orchestrated the arrest or detention of a customer in retaliation for public criticism. In an official statement addressing the controversy, the financial institution emphasized its respect for the fundamental right of consumers to voice opinions and highlight concerns regarding its service delivery. The ...
Odu’a Investment Company Limited (OICL) announces the completion of its acquisition of a 10% minority equity stake in the issued share capital of FCMB Pensions Limited, a subsidiary of FCMB Group Plc. The acquisition follows the receipt of the requisite approvals from the regulatory authorities, the National Pension Commission (PenCom) and the Central Bank of ...
The Naira on Monday further appreciated at the official market trading at N1,357.76 against the U.S. dollar. Data published on the website of the Central Bank of Nigeria (CBN) showed the Naira gained N8.46 during Monday’s trading session. The development reflects a 0.6 per cent increase when compared with Friday’s closing rate of N1,366.23 to ...
By Matthew Denis Nigeria recorded a slight moderation in its headline inflation rate for February 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Monday. The data reveals that the inflation rate dipped to 15.06 percent, representing a marginal decline of 0.04 percentage points from ...
NOVA Bank Limited has solidified its transition into the commercial banking sector by successfully meeting the Central Bank of Nigeria’s (CBN) new capital requirements well ahead of the March 31, 2026, regulatory deadline. To lead this new era of expansion, the Bank has announced the appointment of Jude Anele as its Managing Director and Chief ...
Joseph Olasunkanmi Tegbe, the Director-General and Global Liaison of the Nigeria-China Strategic Partnership (NCSP), has characterized the nation’s recently enacted tax framework as a cornerstone of fiscal transformation aimed at empowering ordinary Nigerians and small business owners. Speaking at the BusinessDay Tax Reform Conference 2026, Tegbe, who also chairs the National Tax Policy Implementation Committee ...
In a move aimed at strengthening financial stability, the Central Bank of Nigeria (CBN) has directed banks and other financial institutions to restrict services to large-ticket loan defaulters. In a circular dated March 12, 2026, signed by the Director of Banking Supervision, Olubukola Akinwunmi, the apex bank instructed all financial institutions to deny additional credit ...
The President of the Senate, Godswill Akpabio, has disclosed that the upper legislative chamber will pass the ₦48.472 trillion 2026 Appropriation Bill on March 31. This timeline was established just before the Senate adjourned for a brief Sallah recess, with Akpabio emphasizing that the break would not stall the budget process. The Senate President noted ...
The President of the Senate, Godswill Akpabio, has disclosed that the upper legislative chamber will pass the ₦48.472 trillion 2026 Appropriation Bill on March 31. This timeline was established just before the Senate adjourned for a brief Sallah recess, with Akpabio emphasizing that the break would not stall the budget process. The Senate President moted that Standing committees are mandated ...
…as reserves hit $50bn ….says Nigeria recorded 200% surge in capital inflows between 2023 and 2025 The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, declared a definitive end to the era of persistent naira devaluation on Thursday, citing the success of comprehensive monetary and foreign exchange reforms. Speaking at the Annual Distinguished ...
The Senate on Wednesday approved the second reading of the Federal Capital Territory Administration (FCTA) 2026 Appropriation Bill, authorizing the issuance of N2.2 trillion from the FCT statutory revenue fund. The bill, presented by Senate Leader Senator Opeyemi Bamidele (APC-Ekiti Central), provides funding for the operations and developmental programs of the FCT for the 2026 ...
Pres. Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as the new Deputy Governor of the Central Bank of Nigeria (CBN). In a statement on Wednesday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the nomination is made in accordance with Section 8(1) of the Central Bank of Nigeria Act, 2007. ...
FCMB Group Plc has completed the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and has secured its international banking licence after obtaining all required regulatory approvals. The Group raised more than ₦400 billion through a series of transactions, including public equity offerings, a convertible instrument, and a minority divestment in one of ...
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 ...
The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has hailed the significant contributions of women to the Nigerian capital market. Speaking during an International Women’s Day event held on Monday, March 9, 2026, Dr. Agama praised the resilience, professionalism, and intellect of the commission’s female staff, noting that their dedication ...
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 ...
