Business
Inflation moderates to 15.91% in June on base effects, stable naira, others
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…
Read More »CBN reaffirms validity of standard ₦100 note, warns businesses
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…
Read More »FG denies spending N8trn outside approved budget, rebuts IMF report interpretation
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…
Read More »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…
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