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The 306th meeting of the Central Bank of Nigeria’s Monetary Policy Committee has ended with no change in interest rates. The Monetary Policy Rate stays at 26.5 per cent, and all other key settings...
For years, Nigeria’s financial conglomerates have operated in ways that blur the lines between their constituent parts. A bank holds deposits. Its fintech subsidiary processes payments. Its...
United Bank for Africa Plc has announced the appointment of Mr. Emmanuel N. Nnorom as its next Group Chairman, effective 21 August 2026, following the scheduled retirement of Mr. Tony O. Elumelu from...
Nigeria enters the July 2026 MPC meeting with an economy that is expanding but still constrained, and a stabilisation effort that is incomplete rather than finished. Real GDP grew by 3.89 percent in...
The Central Bank of Nigeria's Monetary Policy Committee holds its 306th meeting on 20 – 21 July 2026, the third of five scheduled sessions this year. The decision it faces is more constrained than the...
Effective today, the Central Bank of Nigeria revoked the operating licences of 46 microfinance banks under Sections 12 and 13 of BOFIA 2020, approved by Governor Cardoso. The stated grounds:...
When Nigeria's Central Bank raises its interest rate, commercial banks raise the rates they charge borrowers quickly and by a large amount. When the Central Bank cuts its rate, commercial banks reduce...
TikTok removed 4.02 million videos and terminated 86,000 live sessions in Nigeria during the fourth quarter of 2025, according to the platform's Community Guidelines Enforcement Report released this...
Seplat Energy, one of Nigeria's largest upstream oil producers, is undergoing a significant leadership transition that signals a broader shift in ownership and control of the country's energy sector...
Ecobank Transnational Incorporated, the pan-African banking group, has approved a dividend distribution of $40 million to shareholders following its 38th Annual General Meeting held in Lomé, Togo on...
Oil is trading with a clear war premium again. Prices have not returned to the April spike, but the latest jump shows that markets are re-pricing risk as if the Strait of Hormuz were a structural...
Nigeria now moves more than ₦1 quadrillion a year through electronic payments, based on Nigeria Inter‑Bank Settlement System (NIBSS) data for 2024. That means money sent by bank transfer, card, mobile...
The Central Bank of Nigeria (CBN) has increased the maximum amount that Nigerian students can receive in foreign exchange for tuition payments abroad to 25,000 dollars per semester, up from 15,000...
Nigeria is weighing a rare opportunity to reshape its debt profile. With Brent crude up sharply in 2026 and investor demand pushing Nigerian Eurobond spreads to their lowest in more than a decade,...
The Central Bank of Nigeria (CBN) has carried out a full reshuffle of its four deputy governors, reassigning each of them to a new directorate with effect from 1 June 2026, according to updated...
Nigeria’s crude petroleum sector grows 16.4%, exits contraction despite lower production Nigeria’s crude petroleum sector grew by about 16.37% year‑on‑year in real terms in the first quarter of 2026,...
In Nigeria, like many other similar countries, many firms face a deeper strategic question than “What sector am I in?” The real question is, should a business be tightly tied to the global economy,...
Retail loans decline despite rise in consumer credit to ₦3.81 trillion in January Nigeria’s consumer credit outstanding rose to about ₦3.81 trillion in January 2026, up 0.79% from ₦3.78 trillion in...
The Federal Government says it wants 2,322 Compressed Natural Gas (CNG) stations across Nigeria by 2027. Right now, there are about 65. If the rollout works, CNG could reduce fuel costs for some...
ipNX, a Nigerian internet and technology services company, is warning businesses not to rush into AI without the basics in place. Its point is simple: AI depends on stable internet, organised data and...
Nigeria's central bank held its benchmark interest rate at 26.5% at the 305th Monetary Policy Committee meeting on 19–20 May 2026; a pause that reflects growing caution rather than confidence. After...
Nigeria’s federal government has announced that, from 2026, it will no longer carry electricity subsidy costs alone. Under a new burden‑sharing framework, any federal, state or local government that...