Economy

Benefits of Nigeria’s economic stability coming to Nigerians soon

The Central Bank of Nigeria has assured Nigerians that the benefits of the country’s improving macroeconomic indicators will soon filter through to households and...

CBN tightens surveillance on banks over terrorism financing

The Central Bank of Nigeria has intensified surveillance on banks and other financial institutions over terrorism financing risks as part of efforts to prevent...

Ecobank partners Verve on N20m youth empowerment grant

Ecobank in partnership with Verve, has rolled out InnovateX 2026, calling on young Nigerians, particularly students, innovators, entrepreneurs, and creatives aged 16 to 25,...

WIOCC secures $300m for Africa’s digital infrastructure expansion

WIOCC Group, a carrier-neutral digital infrastructure platform focused on Africa, has secured a combined $300m investment from Africa Finance Corporation and Vision International Investment...

Investors stake N3.35tn on T-bills at 16.84% yield

The Central Bank of Nigeria has lowered the stop rate on the one-year Nigerian treasury bill to 16.84 per cent, extending the recent decline...

CBN mops up N4.72tn as OMO demand surges

Investors placed N8.62tn worth of bids for the Central Bank of Nigeria’s Open Market Operations securities in two days, as yields on the short-term...

FG eyes emerging market status after FTSE upgrade

The Federal Government has set its sights on advancing Nigeria’s capital market to Emerging Market status following confirmation from global index provider FTSE Russell...

UBA strengthens workforce with 374 graduate inductees

Africa’s Global Bank, United Bank for Africa Plc, has graduated and inducted 374 young professionals into its workforce, marking the completion of Cohort 21...

CBN urged to expand oversight of fintech, cloud risks

The Central Bank of Nigeria has been urged to expand its oversight of financial institutions to cover risks from cloud providers, telecom networks, fintechs...

FG’s infrastructure spending hits N6.47tn, highways dominate

The Federal Government spent N6.47 trillion on strategic infrastructure development between June 2023 and December 2025, with major highway projects accounting for more than...

FG spent N9.39tn on wage hike, allowances in 31 months — Oyedele

The Federal Government spent N9.39tn on minimum wage increases, salary adjustments and other allowances for public workers between June 2023 and December 2025, the...

FCMB raises instant loan limit amid credit demand

First City Monument Bank has increased the limit on its FastCash instant loan to N500,000, giving eligible customers access to more funds for unexpected...

Investors show strong appetite for BOI’s N250bn bond

Investors have shown strong appetite for long-term domestic assets as the Bank of Industry Limited successfully closed its maiden N250bn Series 1 Fixed Rate...

GTCO interest income surges 506% as dollar limit doubles

Guaranty Trust Holding Company Plc has seen its interest income surge more than sixfold since the COVID-19 pandemic, while its banking subsidiary, Guaranty Trust...

Nigeria’s high debt service draining social infrastructure spending, AfDB warns

Nigeria’s debt burden is increasingly competing with spending on critical social sectors, with interest payments on public debt rivalling or exceeding public health expenditure,...

Finance charges drive Dangote Sugar to N41.5bn profit

Dangote Sugar Refinery Plc returned to profitability in the first half of 2026, posting a N41.51bn profit after tax, as a sharp reduction in...

CBN shelves N700bn T-bills auction amid liquidity squeeze

The Central Bank of Nigeria has cancelled the planned N700bn treasury bills auction for 5 August 2026, following a sharp tightening of liquidity after...

Coleman decries high gas prices amid $20m power investment

The Managing Director of Coleman Technical Industries Limited, George Onafowokan, has lamented the high cost of gas supplied to manufacturers despite the company’s investment...

FirstHoldCo hits historic N6tn market capitalisation milestone

FirstHoldCo Plc has become the first Nigerian banking group to cross the N6tn market capitalisation mark, setting a historic record for the nation’s financial...

CBN pivots Nigeria toward regulated digital asset market

Central Bank of Nigeria is set to play a central role in a new regulatory framework aimed at bringing the country’s fast-growing cryptocurrency and...

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