Business

The Central Bank of Nigeria (CBN) has said the narrowing gap between the official and parallel foreign exchange markets, alongside other macroeconomic improvements, signals greater stability in the financial system, but warned that banks must now convert stronger balance sheets into productive lending. The CBN said the average gap between…

The Central Bank of Nigeria (CBN), has elevated terrorism financing risk to a current supervisory priority, intensifying its oversight of financial institutions as part of efforts to prevent the country’s financial system from being exploited by illicit actors. The apex bank said the enhanced supervisory focus would cover key areas…

Nigeria’s total merchandise trade rose to ₦41.44 trillion in the second quarter of 2026 (Q2 2026), representing a 5.61 per cent increase from the ₦39.24 trillion recorded in the corresponding quarter of 2025, the Nigeria Bureau of Statistics (NBS), has said. The latest trade data released by the NBS, showed…

Dangote Petroleum Refinery has formally signed agreements for its planned Initial Public Offering (IPO), setting the stage for what could become Africa’s largest retail share offering, with Nigerians able to participate with as little as ₦5,250. The IPO will introduce a retail-focused subscription structure designed to give more Nigerians access…

Nigeria’s headline inflation moderated marginally to 15.91 percent year-on-year in June 2026, from 15.93 percent recorded in May, marking a 0.02 percentage point decline and reversing the gradual uptick observed in the previous months. The latest print broadly aligns with market expectations, reflecting the continued impact of favourable base effects…

The Central Bank of Nigeria (CBN) has warned businesses, financial institutions and members of the public against rejecting the standard ₦100 banknote, stressing that it remains legal tender and is valid for all transactions across the country. The apex bank issued the clarification on Wednesday following reports that some individuals…

The Federal Government has dismissed claims that it spent more than N8 trillion, equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP), outside the approved budget, describing the reports as a misinterpretation of references to the IMF Representative in Nigeria and the Fund’s 2026 Article IV Consultation…

The World Bank Group has unveiled a new six-year Country Partnership Framework (CPF) for Nigeria covering 2026 to 2032, alongside the approval of a $1.25 billion development policy financing package aimed at accelerating private investment, expanding job creation and consolidating the country’s ongoing economic reforms. The new strategy, announced on…

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has formally received the prestigious Central Bank of the Year Award, dedicating the honour to the Board, management, and staff of the apex bank for their commitment to institutional reforms and economic stability. Cardoso received the award at the Central…

Nigeria’s fixed income market recorded a total turnover of N1.14 billion on June 2, 2026, with Open Market Operation (OMO) Bills accounting for the largest share of transactions, according to the latest Fixed Income Dashboard report. The report of the fixed income dashboard market released by the Central Bank of…