Business

The Nigeria Deposit Insurance Corporation (NDIC) and the Nigeria Inter-Bank Settlement System (NIBSS) Plc are set to sign a Memorandum of Understanding (MoU) aimed at ensuring a more efficient process of reimbursement of depositors in the event of bank failure. This development was disclosed by the Managing Director/Chief Executive of…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Monday, December 15, 2025, engaged senior business leaders and institutional investors in Washington, D.C., at the U.S.–Nigeria Executive Business Roundtable, underscoring Nigeria’s reform agenda and renewed commitment to macroeconomic stability. Against a backdrop of heightened global economic…

Following the revocation of the licenses of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc by the Central Bank of Nigeria (CBN) on December 15, 2025, the Nigeria Deposit Insurance Corporation (NDIC) was appointed as the liquidator of the defunct banks in line with the provisions…

The Nigeria Deposit Insurance Corporation (NDIC) has called for deeper collaboration with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to ensure accurate valuation of assets belonging to failed banks, describing it as vital to effective liquidation and depositors’ repayment. NDIC Managing Director/Chief Executive, Mr. Thompson Oludare Sunday, made…

The Central Bank of Nigeria (CBN) has kept the Monetary Policy Rate (MPR) unchanged at 27 percent, adopting a cautious stance as policymakers look to consolidate the gains of earlier tightening measures and support a steadily improving macroeconomic environment. The decision followed the 303rd meeting of the Monetary Policy Committee…

The Office of the Accountant-General of the Federation (OAGF) has unveiled a series of major financial management reforms designed to strengthen transparency, accountability and efficiency in the implementation of World Bank–funded projects across the country. The Accountant-General of the Federation (AGF), Dr. Shamseldeen Babatunde Ogunjimi, announced the reforms while speaking…

The Nigerian National Petroleum Company (NNPC) Limited has urged international energy players and financial institutions to deepen partnerships and expand investment across Africa in order to address the continent’s growing energy poverty and accelerate economic development. Group Chief Executive Officer of NNPC Ltd., Engr. Bashir Bayo Ojulari, made the call…

The Central Bank of Nigeria (CBN) welcomes the Financial Action Task Force’s (FATF) formal announcement of Nigeria’s removal from the list of jurisdictions under increased monitoring, known as the “grey list”, following a successful on-site evaluation of reforms implemented across the financial system. The FATF decision recognises significant improvements in…

The Federation Account Allocation Committee (FAAC) has shared a total sum of N2.103 trillion as Federation Account revenue for September 2025 to the Federal Government, States, and Local Government Councils (LGCs). The allocation was made at the October 2025 FAAC meeting held in Abuja. The N2.103 trillion total distributable revenue…

In an effort to enhance bilateral cooperation and technical exchange, the Central Bank of Nigeria (CBN) and the Bank of Angola, on the sidelines of the ongoing Annual meetings of the IMF and World Bank, signed a Memorandum of Understanding (MOU) for bilateral technical cooperation. The agreement, which was signed …