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…
Finance
CBN introduces new Nigerian overnight financing rate benchmark
The Central Bank of Nigeria and Financial Markets Dealers Associations have introduced the Nigerian Overnight Financing Rate as the new money market…
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…
Employees ₦30bn pension contributions stuck in PFAs accounts – PENCOM
Nearly N30 billion in pension contributions is currently stuck with Pension Fund Administrators instead of reaching employees’ accounts. The National Pension Commission…
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…
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…
Official, parallel FX market rates show naira appreciation
The Naira demonstrated a firming trend against the United States Dollar in the early hours of Thursday, April 16, 2026, as increased…
Nigeria loses 41% revenue to deductions before FAAC sharing — W’Bank
Nigeria’s federation revenues rose to N84 trillion over the past three years, but 41 per cent of these earnings was lost to…
Iran estimates $270bn cost of US-Israel war damages
The Iranian government on Tuesday estimated the cost of the war launched by the United States and Israel since February at $270…