Business
World bank unveils new Nigeria partnership framework, approves $1.25bn reform financing to boost investment, jobs
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…
Read More »CBN Governor Receives International Central Bank of the Year Award
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…
Read More »Fixed Income Market Records N1.14bn Turnover as OMO Bills Dominate Trading
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…
Read More »NAICOM appoints Ernst & Young as consulting actuary for its risk-based capital framework
The National Insurance Commission (NAICOM) has appointed global professional services firm Ernst & Young (EY) as Consulting Actuary for the finalization and implementation of Nigeria’s Risk-Based Capital (RBC) framework. The appointment was formalized at a working meeting held today between NAICOM and EY in Abuja, as part of the Commission’s…
Read More »Regulatory, judicial challenges slowing some banks’ recapitalisation — CBN Governor
Governor of the Central Bank of Nigeria (CBN) Olayemi Cardoso, has said the remaining banks yet to meet their capital threshold to join the 33 recapitalised banks were encountering legal, regulatory, and judicial challenges that had slowed their recapitalisation process. Cardoso disclosed this on Wednesday at the end of the…
Read More »DBN disburses N1.4tn to MSMEs, creates 1.6 million jobs in a decade
The Development Bank of Nigeria (DBN) says it has disbursed more than N1.4 trillion in loans to Micro, Small and Medium Enterprises (MSMEs) and supported the creation of over 1.6 million jobs since its inception in 2015. Managing Director and Chief Executive Officer of DBN, Tony Okpanachi, disclosed this on…
Read More »Nigeria, Indonesia Forges Stronger Economic Ties
Nigeria and Indonesia have stepped up efforts to strengthen economic cooperation, with both countries targeting deeper trade, investment, and strategic partnerships. This followed a high-level meeting in Abuja between Indonesia’s Ambassador, Bambang Suharto, and Nigeria’s Minister of Budget and Economic Planning, Abubakar Bagudu. Welcoming the delegation, the Permanent Secretary described…
Read More »Nigeria Expands Global Financial Influence as Emomotimi Agama Retains AMERC Vice Chair Role
The Director-General of the Securities and Exchange Commission Nigeria, Emomotimi Agama, has been re-elected as Vice Chair of the Africa/Middle-East Regional Committee (AMERC) of the International Organization of Securities Commissions for a second term covering 2026 to 2028. The re-election, confirmed by IOSCO, underscores Nigeria’s growing influence in the global…
Read More »Nigeria posts positive trade balance of ₦1.7trn in Q4 2025 despite crude export slump
Nigeria, projected to become Africa’s third-largest economy in 2026, with a GDP of $334 billion closed fourth quarter (Q4) 2025 with a positive merchandise trade balance of ₦1,712.48 billion, signaling resilience in its external sector despite a notable drop in crude oil exports, as China leads imports and the Netherlands…
Read More »Nigeria’s Banking Reset in 2025 – How First HoldCo’s Profit Shock Reflects Regulatory Discipline and Balance-Sheet Reform
Nigeria’s banking industry closed 2025 at a critical juncture shaped by macroeconomic adjustment, regulatory tightening, and renewed scrutiny of balance-sheet integrity. Elevated interest rates, exchange-rate liberalisation, and the formal end of COVID-era regulatory forbearance combined to produce record headline profits across much of the sector. Yet beneath these aggregate gains…
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