Category: Finance

Nigeria’s FX reserves drop to $48.6bn in five weeks

Nigeria’s foreign exchange reserves have declined to $48.6 billion as of April 16, 2026, marking...

NGX extends trading hours to 4pm from April 27

Nigerian Exchange Limited has announced the expansion of its trading hours from 9:00 a.m. to...

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...

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...

CBN introduces new Nigerian overnight financing rate benchmark

The Central Bank of Nigeria and Financial Markets Dealers Associations have introduced the Nigerian Overnight...

Tinubu signs ₦68.32trn 2026 budget into law

President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate expenditure...

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...

Employees ₦30bn pension contributions stuck in PFAs accounts – PENCOM

Nearly N30 billion in pension contributions is currently stuck with Pension Fund Administrators instead of...

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...

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...

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...

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...