Business

Manufacturing VAT surges 54.7% to ₦875bn in nine

  • 9th March 2026

Qatar LNG halt could wipe out 2026 supply

  • 9th March 2026

NSDC, BOI launch ₦10bn Sugar project acceleration fund

  • 9th March 2026
Army discovers stolen 1m litres crude oil in Rivers

Nigerian Navy dismantles illegal refineries, recovers stolen crude

  • 8th March 2026

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Clearing agents vow to shut ports amid new charges

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Nigerian shippers intensify maritime reforms for $1trn economy goal

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Manufacturing VAT surges 54.7% to ₦875bn in nine months

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CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
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Nigeria maintains growth momentum with February PMI above 56

Nigeria’s economic activity maintained strong growth momentum in February 2026, with the composite Purchasing Managers’ Index rising to 56.4 points. This was disclosed in the latest report by the Central Bank of Nigeria. The report shows that overall economic activity expanded for the fifteenth consecutive month. The report also indicated that growth remained broad-based across […]

Banking featured

CBN confirms 30 banks meet recapitalisation targets

Nigeria’s banking sector recapitalisation drive has gained significant traction, with 30 banks already meeting the new minimum capital requirements while three lenders are still undergoing regulatory verification, the Central Bank of Nigeria said on Friday. The apex bank disclosed that a total of 33 banks successfully raised fresh capital through various channels including rights issues, […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking

Private sector credit drops to N75.24tn in January 2026

Credit extended by Nigerian banks to the private sector fell to N75.24 trillion in January 2026, down from N75.83 trillion in December 2025. The decline is highlighted in the latest monetary and credit data published by the Central Bank of Nigeria. Private sector credit includes loans, trade credits, non-equity securities, and accounts receivable provided by […]

Business

CBN attracts N2.34 trillion treasury bills bid, allocates N1.01tn

The Central Bank of Nigeria received N2.34 trillion in bids at its N1.05 trillion Treasury Bills Primary Market Auction on March 4, 2026, ultimately allotting N1.01 trillion across the three tenors offered. The apex bank released the auction results at the close of business on Wednesday. The outcome underscores strong investor demand for government securities, […]

Nigeria's FX reserves hits three-month peak
Finance

Net external reserves surge 50.5% to $34.8bn in 2025 — CBN

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has disclosed that the nation’s net external reserves rose 50.5 per cent year-on-year to $34.8 billion in 2025 from $23.11 billion in 2024. In a statement from the apex bank, Cardoso said that the growth in external reserves reflects stronger external sector fundamentals and […]

Finance

Private sector welcomes CBN’s modest interest rate cut

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark interest rate to 26.5 per cent, of which, members of the Organised Private Sector have described the move as minimal but a positive signal for businesses and the broader economy. At the end of its 304th meeting in Abuja, the MPC […]

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Banks raise N4.05tn ahead of March recapitalisation deadline

Banks have secured N4.05tn in verified and approved capital ahead of the March 31, 2026 recapitalisation deadline set by the Central Bank of Nigeria. CBN Governor Olayemi Cardoso disclosed this on Tuesday during the Monetary Policy Committee briefing in Abuja, stating, “As of February 19, 2026, total verified and approved capital raise stands at N4.05tn.” […]

Economy featured

BREAKING: CBN slashes interest rate to 26.5%

The Monetary Policy Committee of the Central Bank of Nigeria has reduced the benchmark Monetary Policy Rate to 26.5 per cent. This marks the second time the MPC has cut rates under the current leadership of the apex bank. CBN Governor Olayemi Cardoso announced the decision on Tuesday at the conclusion of the committee’s 304th […]

CBN fines Moniepoint, OPay ₦1bn in regulatory crackdown
Banking featured

CBN fines banks ₦10m for using unaccredited cheque printers

The Central Bank of Nigeria has imposed a N10 million fine and ordered the withdrawal of cheques from circulation on commercial banks that engage unaccredited cheque printers or personalisers. The apex bank announced this in its revised sanctions regime for defaulters of the Nigeria Cheque Standard and the Nigeria Cheque Printers’ Accreditation Scheme. The CBN […]

SERAP sues Wike, governors, over failure to account for N40tn LGA allocations
Opinion

SERAP drags CBN to court over missing ₦3tn funds

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Central Bank of Nigeria “over the failure to account for and explain the whereabouts of the missing or diverted N3 trillion of public funds, including the over N629 billion paid to ‘unknown beneficiaries’ as part of the Anchor Borrowers’ Programme.” The lawsuit followed […]

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