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The Central Bank of Nigeria (CBN) has said the narrowing gap between the official and parallel foreign exchange markets, alongside other macroeconomic improvements, signals greater stability in the financial system, but warned that banks must now convert stronger balance sheets into productive lending. The CBN said the average gap between…

The Central Bank of Nigeria (CBN), has elevated terrorism financing risk to a current supervisory priority, intensifying its oversight of financial institutions as part of efforts to prevent the country’s financial system from being exploited by illicit actors. The apex bank said the enhanced supervisory focus would cover key areas…

The Nigerian Maritime Administration and Safety Agency (NIMASA), has commenced moves to review Nigeria’s maritime training curriculum to bring the country’s seafarer certification in line with globally accepted standards. Director General of NIMASA, Dr. Dayo Mobereola, disclosed this when the Governing Board of the Maritime Academy of Nigeria (MAN), Oron,…

Open Space has launched a technology-driven Ethical Finance platform aimed at expanding access to non-interest financial services and promoting financial inclusion across Nigeria. The company said the platform offers transparent, asset-backed financing solutions designed to support individuals, small businesses and entrepreneurs seeking alternatives to conventional interest-based loans. Speaking at the…

Nigeria’s total merchandise trade rose to ₦41.44 trillion in the second quarter of 2026 (Q2 2026), representing a 5.61 per cent increase from the ₦39.24 trillion recorded in the corresponding quarter of 2025, the Nigeria Bureau of Statistics (NBS), has said. The latest trade data released by the NBS, showed…

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disowned a petrol tanker intercepted by the National Drug Law Enforcement Agency (NDLEA) in Ondo State with 2,145kg of cannabis concealed in a compartment of the vehicle. The company said the tanker, with registration number MKA 960 XC, is neither owned…

The Chief Executive and Tax Ombud, Office of the Tax Ombud (OTO), Dr John Nwabueze, has called for stronger collaboration among tax and revenue-generating agencies to promote fairness, transparency and trust in Nigeria’s tax administration. Nwabueze made the call on Thursday in Abuja at a stakeholder engagement organised by the…

The Nigerian National Petroleum Company Limited (NNPC Ltd.), has said the Federal Government’s signing of the Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order, 2026, will unlock more than $50 billion in new investments and accelerate growth in Nigeria’s oil production. The Group Chief Executive Officer of NNPC…

The Independent National Electoral Commission (INEC), has announced that 1,906,390 Permanent Voter Cards (PVCs), representing 81.50 per cent of the 2,339,233 registered voters in Osun State, have been collected ahead of Saturday’s governorship election. The Commission disclosed this on Thursday, two days before the August 15, 2026 election, noting that…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has given winners of the 2025 Licensing Round a 90-day deadline to fulfil all post-award obligations or forfeit their allocated oil and gas assets, warning that defaulting bidders will automatically lose their entitlement to the acreage. The warning came on Tuesday at the…