Nigerian insurers pay ₦307bn claims in 2025
Nigeria’s insurers paid N307.2 billion in claims in the 2025 financial year, up from N216.9 billion in 2024, representing a 41.6 per…
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Cardoso dismisses reserve fluctuations, assures strong buffers
Governor of the Central Bank of Nigeria, Olayemi Cardoso, has dismissed concerns over recent fluctuations in the country’s external reserves, insisting that…
Naira depreciates to ₦1,390/$ in parallel market amid widening gap
The Naira on today depreciated to N1,390 per dollar in the parallel market from N1,388 per dollar on Thursday. Similarly, the naira…
Oil prices drop as Iran declares Strait of Hormuz ‘completely open’
Oil prices plunged Friday after Iran’s Foreign Minister Abbas Araghchi said the vital Strait of Hormuz was “completely open” for commercial tankers…
Tinubu signs ₦68.32trn 2026 budget into law
President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate expenditure of ₦68.32 trillion for the current fiscal…
CBN bars under-18s from BVN registration starting May 1
The Central Bank of Nigeria has restricted Bank Verification Number enrolment to persons aged 18 years and above as part of new…
Reps to approve debt relief for Kano, Jos, Ikeja DisCos
The House of Representatives Public Accounts Committee has resolved to approve financial relief measures and a 10-year debt restructuring framework for the…
Nigeria targets PPPs to close $2.3trn infrastructure funding gap
Nigeria is intensifying efforts to close its vast infrastructure deficit, estimated at $2.3 trillion between 2020 and 2043, as it turns to…
FG rules out borrowing from IMF’s $50bn Africa aid
The Federal Government on Thursday declared that it has no plan to approach the International Monetary Fund to borrow from the estimated…
MTN suspends Xtratime airtime, data credit service
MTN Nigeria has temporarily suspended its airtime and data credit advance service, widely known as Xtratime. The telecom operator disclosed the development…
Nigeria’s foreign reserves drop sharply by $1.3bn in one month
Nigeria’s foreign exchange buffers have come under renewed pressure as the nation’s gross external reserves plummeted by $1.3 billion within a single…
Nigeria’s public debt rose to record ₦159.27trn in 2025 — DMO
Nigeria’s total public debt for federal and state governments rose by 10 per cent, year-on-year to N159.27 trillion at the end of…