Business

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 …

As the various economic reforms policy of President Bola Tinubu is taking its toll on the financial wellbeing of most Nigerians, the Central Bank of Nigeria (CBN) too is not only showing that it’s aware of the concomitant pains that must come with the policy, but is also advancing on…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s commitment to establishing macroeconomic stability, fortifying the banking sector, and establishing Nigeria as a top investment destination. Mr. Cardoso stated during a fireside chat moderated by Andreas Voss, Chief Country Representative, Deutsche Bank Nigeria,…