Nigeria’s diaspora remittance inflows through International Money Transfer Operators (IMTOs), rose to a record $947 million (about N1,267,417,450,000) in July 2026, bringing the country closer to the Central Bank of Nigeria’s (CBN) $1 billion monthly target. The CBN said in a publication on its website that the July figure...
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Borno State Governor Babagana Umara Zulum’s Senior Technical Assistant (STA) on Print and Digital Communications, Abdurrahman Ahmed Bundi, alongside 14 others, have been honoured with the prestigious National Spokespersons Awards (NSAwards). Bundi emerged winner in the Digital Communication category. Kano State Commissioner for Information and Internal Affairs, Comrade Ibrahim...
The recent decision by the Monetary Policy Committee (MPC) to retain the Monetary Policy Rate (MPR) at 26.5% comes at a pivotal time for Nigeria’s economy. As the nation navigates the complex interplay of domestic resilience and global uncertainties, the choice to retain the MPR reflects a careful balancing...
Image Merchants Promotion Limited (IMPR) Managing Director, Yushau A. Shuaib, has announced the forthcoming release of his memoir, Mni vs. Mnipr in NIPSS: Tackling Institutional Bullying, a 205‑page account detailing his controversial experience at the National Institute for Policy and Strategic Studies (NIPSS), Kuru. The announcement came during IMPR’s mid‑year press briefing,...
Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks for failing to meet regulatory requirements for continued operations. The apex bank announced the decision in a statement issued on Tuesday by its Acting Director of Corporate Communications, Sidi-Ali Hakama. According to the statement, the...
Central Bank of Nigeria (CBN) on Monday said it plans to move half of Nigeria’s cash into the banking system and bring 50 million more people into formal finance by 2028. The plan was unveiled by CBN Governor Olayemi Cardoso on Monday in Abuja during the launch of _Payments...
Nigerian banks reported stronger interest income in the first quarter of 2026 as lending rates stayed near record levels and the Central Bank of Nigeria (CBN) kept monetary policy tight. The average maximum lending rate held steady at 28.20% in March 2026, unchanged from February. The rate marked the...
Justice Maryanne Anineh of the Federal Capital Territory, FCT, High Court, Maitama, Abuja, on Monday, May 11, 2026 admitted in evidence, newspaper publications tendered by the Economic and Financial Crimes Commission (EFCC) in the trial of the former governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele...
Central Bank of Nigeria (CBN) Governor, Mr. Olayemi Cardoso has revealed that Nigeria’s gross and net foreign reserves improved significantly at the end of 2025, reflecting stronger external sector fundamentals and sustained policy reforms. The apex bank disclosed this in a post issued on Tuesday via its official X...
By ABDUL SULEIMAN – Nigeria may have lost over N400 billion in technical equipment, accessories, trainings and first aid materials procured by the National Population Commission (NPC) for the botched 2023 census, investigations have shown. This is even as local contractors who supplied the materials and provided other logistics...
Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are becoming too much for citizens. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, appealed to the Central Bank of Nigeria...
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN), have drawn up a framework to address consumer complaints arising from unsuccessful airtime and data transactions during network downtimes, system glitches, or human input errors. Head, Public Affairs of the NCC, Nnenna Ukoha, who made this known in...
stock market bounced back by 0.10 per cent on Tuesday, posting a gain of N94 billion for investors. This is after six consecutive sessions of bearish performance. The uptick was due to renewed investors interest in stocks like NCR Nigeria, Ikeja Hotel, Prestige Assurance, Eunisell Interlinked and 19 other...
The House of Representatives Committee on Nutrition and Food Security has invited the Central Bank of Nigeria (CBN), Nigeria Incentive-Based Risk Sharing System for Agriculturaal Lending (NIRSAL) PLC, NIRSAL Micro Finance Bank, the Bank of Agriculture (BOA), and others to the third leg of its investigative hearing into the...
In a surprising twist to a high-stakes legal faceoff, the Osun State Government on Friday formally withdrew its lawsuit against the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) over alleged withholding of local government allocations. Appearing before Justice Emeka Nwite at the Federal High...
Nigeria’s trade surplus has risen to six percent of the country’s Gross Domestic Product (GDP), according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso. Cardoso disclosed this while speaking at the ongoing IMF/World Bank Group Annual Meetings in Washington, D.C., where he is leading Nigeria’s...
Senior Advocate of Nigeria, Chukwuma-Machukwu Ume, has petitioned the Central Bank of Nigeria (CBN) to sanction Polaris Bank over its alleged refusal to disburse a ₦868 million loan facility meant for his client, Kanchez Nigeria Limited. In the petition dated October 2, which was acknowledged by the apex bank...
Central Bank of Nigeria (CBN) has reaffirmed its commitment to ensuring the circulation of clean Naira notes across the country while calling on Nigerians to treat the national currency with respect. The bank also encouraged citizens to become ambassadors for the protection and proper handling of the Naira. The...
Nigeria Deposit Insurance Corporation (NDIC) has cautioned citizens to steer clear of Ponzi schemes and other dubious investment platforms that promise quick returns but often lead to financial loss. Speaking during the NDIC’s Special Day at the 20th Abuja International Trade Fair, the Corporation’s Managing Director, Mr. Bello Thompson...
Shareholders and Boards of Directors of Providus Bank and Unity Bank have officially approved a merger between the two institutions, paving the way for the creation of a more formidable player in Nigeria’s banking sector. The approval was secured during a court-ordered Extraordinary General Meeting (EGM) held on Friday,...