The Central Bank of Nigeria (CBN) has unveiled a new set of cash-withdrawal limits, formally ending the special approval system that previously allowed individuals to withdraw up to ₦5 million and corporate...

Nigeria’s foreign reserves have surged to over $46 billion, marking the highest level since 2018, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso. Cardoso, represented by...

Nigeria’s crude oil production inched up to 1.401 million barrels per day (bpd) in October, from 1.39 million bpd in September, according to the OPEC Monthly Oil Market Report (MOMR) released on Wednesday. Despite...

President Bola Ahmed Tinubu has asked the National Assembly to approve a fresh ₦1.15 trillion loan from the domestic debt market to finance the deficit in the 2025 national budget. The request was contained...

The Federal Government has appointed Dr. John Nwabueze as Nigeria’s new Tax Ombudsman under the Joint Revenue Board of Nigeria Act, 2025. The appointment, announced on Monday, is part of President Bola...

President Bola Ahmed Tinubu has approved a 15 percent ad-valorem import duty on petrol and automotive diesel, a move aimed at strengthening Nigeria’s local refining capacity and stabilising the downstream...

Nigeria’s Dangote Group has announced plans to expand the capacity of its refining hub from 650,000 barrels per day (bpd) to 1.4 million bpd, in what would make it the largest single-train refinery in...

A global financial crime watchdog, the Financial Action Task Force (FATF), has removed four African countries — South Africa, Nigeria, Mozambique and Burkina Faso — from its “grey list” of nations...

The Federal Government has approved implementation frameworks for a ₦4 trillion government-backed bond aimed at clearing verified arrears owed to power generation companies (GenCos) and gas suppliers,...

The International Monetary Fund (IMF) has upgraded Nigeria’s economic growth outlook, projecting a 3.9 percent expansion in 2025 and 4.2 percent in 2026. The revised forecast was announced on Tuesday...

The Presidency has dismissed the World Bank’s latest report estimating that 139 million Nigerians live in poverty, describing the figure as “unrealistic” and disconnected from current economic realities. President...

The Federal Government has announced that Dangote Group will redeploy workers who were recently disengaged from its refinery operations, following mediation between the company, the PENGASSAN union, and...

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has issued a stern ultimatum to the management of Dangote Refinery, demanding the recall of more than 800 Nigerian workers...

Fourteen Nigerian banks have fully met the Central Bank of Nigeria’s (CBN) new capital requirements under the ongoing recapitalisation exercise, Governor Yemi Cardoso announced on Tuesday in Abuja. Speaking...

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) has cut the benchmark interest rate by 50 basis points, reducing it from 27.5 percent in July to 27 percent. The decision was reached at...

Nigeria’s economy grew by 4.23% year-on-year in real terms in the second quarter of 2025, according to new data released by the National Bureau of Statistics (NBS). The figure represents the country’s...

The Federal Government has disbursed ₦330 billion in cash transfers to poor and vulnerable Nigerians under the National Social Safety-Net Coordinating Office (NASSCO), Minister of Finance and Coordinating...

The Federal Government has suspended the recently introduced four percent Free on Board (FOB) levy on imports, following weeks of backlash. The suspension, ordered by Minister of Finance Wale Edun,...

Access Holdings Plc has appointed Mr. Innocent Ike as its substantive Group Managing Director/Chief Executive Officer, effective August 29, 2025, following regulatory approval. The announcement was contained...

The African Development Bank (AfDB) and its development partners have mobilised $2.2 billion (approximately ₦3.4 trillion) to implement the second phase of Special Agro-Industrial Processing Zones (SAPZs)...