Finance Minister Wale Edun has announced that the new administration has secured a $1.5 billion zero-interest loan from the World Bank. Minister Edun disclosed the World Bank financing deal to reporters...

Nigeria’s Dangote Refinery is on track to commence petrol production by November 30th, with plans to begin refining diesel and jet fuel next month, an executive announced Monday. Dangote Executive...

The Nigerian National Petroleum Company Limited (NNPC) has announced organizational changes involving the retirement of executives as part of a strategic renewal initiative. In a statement, NNPC said the...

The Nigerian government has filed suit aiming to invalidate over $418 million worth of promissory notes issued to contractors tied to Paris Club refunds for state and local governments. The FG contends...

Nigeria’s Federation Account Allocation Committee (FAAC) has distributed N966.1 billion in revenue among federal, state and local governments for July 2022. The allocation comprises statutory revenue,...

Seplat Energy provides an update to the previous announcement regarding the incident involving the Majestic rig. Contrary to some media reports, the Majestic rig is owned by Depthwize Nigeria Limited and...

The Federal Government on Tuesday withdrew the illegal firearms possession case against suspended Central Bank of Nigeria (CBN) Governor Godwin Emefiele. The government had filed the charges against Emefiele...

The Central Bank of Nigeria (CBN) has instructed Nigerian banks to remove post-no-debit restrictions imposed on 440 individual and corporate bank accounts. A post-no-debit prevents account holders from...

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC), Mele Kyari, has explained the recent rise in petrol pump prices in Nigeria, attributing it to market forces....

Nigeria’s Consumer Price Index (CPI) witnessed a notable increase, reaching 22.79% in June compared to the 22.41% recorded in May 2023. This information was revealed in the latest CPI report released...

The Nigeria Civil Aviation Authority (NCAA) has taken decisive action by suspending the operations of all Boeing B737 aircraft belonging to domestic carrier Max Air. The immediate suspension comes as a...

The House of Representatives has instructed the Central Bank of Nigeria (CBN) to suspend its directive on including social media handles as part of the “Know Your Customer” (KYC) requirement...

In a significant move towards fostering business growth and removing barriers hindering Nigeria’s economic development, President Bola Tinubu has given his approval for the establishment of a...

Meta, the parent company of Facebook, has launched Threads, a new text-based social media platform. Threads is designed to be a more intimate and personal way to connect with friends and family. The app...

The Central Bank of Nigeria (CBN) has taken a firm stance against financial crimes by releasing its latest Customer Due Diligence Regulations for financial institutions under its regulatory purview. The...

The Central Bank of Nigeria (CBN) has announced a significant update regarding cash deposit restrictions on domiciliary accounts, stating that account holders are now able to withdraw up to $10,000 per...

President Bola Ahmed Tinubu has issued a suspension order against Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN). The directive was made public through a statement released by the...

Nigeria’s Gross Domestic Product (GDP) expanded by 2.31% year-on-year in real terms during the first quarter of 2023, marking a decrease of 1.21% points compared to the previous quarter’s 3.52%...

In a significant development for the Nigerian financial sector, the Central Bank of Nigeria (CBN) has announced the revocation of operating licences for 132 microfinance banks, four primary mortgage banks,...

Mobile subscriptions for Nigeria’s telecommunications sector experienced a decline for the first time in nearly two years, according to the latest industry statistics released by the Nigerian Communications...