Business
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…
Read More »NDIC, NIBSS Move to Strengthen Depositor Protection With New Reimbursement Framework
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…
Read More »Nigeria reaffirms commitment to economic stability at U.S.–Nigeria Business Roundtable
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…
Read More »NOTICE TO DEPOSITORS OF ASO SAVINGS AND LOANS PLC AND UNION HOMES SAVINGS AND LOANS PLC (IN-LIQUIDATION)
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…
Read More »NDIC, NIESV Deepen Ties on Failed Bank Asset Valuation
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…
Read More »CBN Keeps MPR at 27% as MPC Bets on Sustained Disinflation, Stronger Economic Outlook
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…
Read More »
