Economy

Nigeria’s reserves hit $52bn, inflation drops to 15.9%

The Central Bank of Nigeria has reported a landmark recovery in the nation’s financial buffers, with gross foreign reserves surging to $51.89bn, nearly reaching...

Tinubu unveils $3.05bn W’Bank-funded anti-poverty programmes

President Bola Tinubu on Thursday unveiled about $3.05bn in World Bank-funded programmes aimed at reducing poverty, strengthening healthcare and education, and improving the livelihoods...

Banks slash lending, cut N5.4trn across key sectors

Deposit Money  Banks (DMBs) slashed lending to oil and gas, information and communication technology (ICT) and six other key sectors of the  economy by N5.45 trillion...

Economy exits contraction but households remain pessimistic — CBN

Nigeria’s economy exited contraction in June as the Purchasing Managers’ Index, PMI, rebounded to 50.1 points from 49.6 points in May, driven by sustained...

Chams HoldCo grows revenue 18%, declares N270m dividend

Chams Holding Company Plc recorded an 18 per cent increase in revenue to N17.65bn for the financial year ended 31 December 2025, declared a...

S&P 500 decline no threat to bull run – FNB analyst

The S&P 500 remains firmly locked in a long-term uptrend despite a slight softening in global investor sentiment, according to a technical market brief...

The S&P 500 remains firmly locked in a long-term uptrend despite a slight softening in global investor sentiment, according to a technical market brief...

Zenith Bank Offering Lifeline, Support for Women in Benue IDP Camps

In the face of displacement and hardship, Zenith Bank Plc is restoring hope and dignity to vulnerable women and girls in Benue State through...

Access Holdings, Coronation Group Celebrate Enduring Legacy of Nigerian Modernism

Access Holdings Plc and Coronation Group hosted a private reception in London, to celebrate the enduring legacy of Nigerian Modernism, one of the most...

W’Bank approves $1.25bn Nigeria loan despite debt concerns

The World Bank has approved a $1.25bn loan for Nigeria under its Nigeria Actions for Investment and Jobs Acceleration programme, despite recent public backlash...

CBN issues fresh guidance on troubled banks’ contract suspensions

The Central Bank of Nigeria has issued interpretative guidance clarifying the practical application of Sections 34(2)(b) and 40(2) of the Banks and Other Financial...

Access Bank moves to ease vehicle ownership

Access Bank Plc has launched a major vehicle financing initiative, dubbed AutoFest, aimed at making car ownership more accessible to Nigerians amid rising vehicle...

Jaiz Bank plans collateral-free loans for SMEs

Jaiz Bank Plc has said it is awaiting the approval of the Central Bank of Nigeria to roll out new financing products that will...

CBN orders banks to freeze six terror suspects’ accounts

The Central Bank of Nigeria has directed banks and other financial institutions to immediately freeze the accounts and assets of individuals and companies designated...

Nigeria needs more taxpayers, not higher taxes – Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Thursday said Nigeria’s revenue challenge lies in expanding the tax net...

Ogun attracts $250m dairy investment in agric sector

Ogun State has secured a $250m investment in its agricultural sector as Pure Dairy Herds announced plans to establish a large-scale dairy farm in...

Debt payments exceed health, education spending five times

Nigeria spends nearly five times more of its national revenue on servicing external debts than on healthcare and education combined, according to a new...

N5.2tn remains outside banks despite CBN cashless push

Cash held outside Nigeria’s banking system rose to N5.19tn in May 2026, despite the Central Bank of Nigeria’s sustained push for digital payments and...

Tinubu seeks fresh $6bn loan from UAE, UK

President Bola Ahmed Tinubu has requested Senate approval for new external loans totalling $6 billion to fund infrastructure projects, debt servicing, and port rehabilitation.In...

Nigeria faces $14bn annual infrastructure funding shortfall – Edun

The Minister of Finance and Coordinating Minister for the Economy, Mr Olawale Edun, has disclosed that Nigeria has a $14bn annual infrastructure investment gap,...

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