Latest in
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 ...
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 ...
By Ejire Folakunmi The Nigerian Naira experienced a 0.22% depreciation against the US Dollar on Monday, closing at ₦1,383.58 at the Nigerian Foreign Exchange Market (NFEM). This decline coincided with a contraction in liquidity, as data from the Central Bank of Nigeria (CBN) indicated a reduction in intraday turnover among authorized dealers. Total interbank exchange ...
The Nigerian Naira remained stable during Tuesday’s trading session, maintaining its position within the 1,380 range against the dollar as the Central Bank of Nigeria (CBN) continues its efforts to achieve price discovery and market stability. According to data from the Nigerian Foreign Exchange Market (NFEM), the official closing rate settled at ₦1,386.75 per US ...
The Federal Government has declared that the true engine of the $3.5 trillion AfCFTA market will be small businesses. The Federal government made this known on Monday when it launched a strategic report titled Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA, marking a significant step toward integrating Nigerian businesses into the $3.5 ...
The African Export-Import Bank (Afreximbank) has successfully concluded a landmark $2-billion three-year dual-tranche syndicated term loan facility, marking the largest syndicated borrowing in the institution's history. The facility, which was finalized on March 9, 2026, comprises two segments: a $1.73 billion USD tranche and a €228 million EUR tranche. Initially launched with a target of ...
The Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for its strength, capacity, and resilience following its impressive compliance ahead of the March 31 recapitalisation deadline. With over 96% compliance already recorded, the association applauded the disciplined execution of the exercise by financial institutions and extended special praise to ...
The Nigerian Naira experienced a 0.22% depreciation against the US Dollar on Monday, closing at ₦1,383.58 at the Nigerian Foreign Exchange Market (NFEM). This decline coincided with a contraction in liquidity, as data from the Central Bank of Nigeria (CBN) indicated a reduction in intraday turnover among authorized dealers. Total interbank exchange volume fell to ...
The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, and the Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Nasiru Yusuf Gawuna, have resigned from their respective positions to pursue governorship bids in the 2027 general elections. The resignations follow a directive from President Bola Ahmed Tinubu, issued through the ...
By Imisioluwa Afunmiso You may not have noticed it yet. Life is getting more expensive, and people are adjusting in ways they don’t always talk about. What used to feel like normal spending now requires more thought and planning. Little by little, priorities are changing and certain things are being pushed aside. If you look ...
The Centre for the Promotion of Private Enterprise (CPPE) has commended the Central Bank of Nigeria (CBN) for the orderly and non-disruptive execution of the bank recapitalization programme as the exercise nears its conclusion. Recall that as of March 27, 2026, 32 banks have successfully met the new minimum capital requirements per the announcement made ...
The Central Bank of Nigeria (CBN) has aggressively mopped up ₦4.11 trillion from the banking system within a single week through the sale of Open Market Operations (OMO) bills. This significant liquidity withdrawal is part of the apex bank’s ongoing strategy to curb soaring inflation and stabilize the Naira by reducing the volume of money ...
By Ejire Folakunmi The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, on March 27, 2026, received the Executive Director for the IMF Africa Group III (ECOWAS) Constituency, Dr Quattara Wautabouna, during a courtesy visit in Abuja. The meeting focused on strengthening regional economic coordination and deepening collaboration among member states ...
By Matthew Denis A Federal High Court in Lagos has overturned the Central Bank of Nigeria’s (CBN) decision to dissolve the board and management of Union Bank of Nigeria. In a judgment delivered on Wednesday, Justice Chukwujekwu Aneke ruled that the CBN’s actions in January 2024 exceeded its legal authority. The court nullified the dissolution ...
By Muyideen Aliyu, Ilorin Kwara State Governor AbdulRahman AbdulRazaq has commenced the distribution of ₦350 million ($250,000) in interest-free loans to 1,000 residents. The initiative aims to empower small business clusters, strengthen grassroots economies, and promote sustainable development across Kwara communities. The project is funded by the World Bank under the Community Revolving Fund (CRF) ...
