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The Central Bank of Nigeria (CBN) has announced a 10-day extension of the deadline for the use of old naira notes across Nigeria. The new deadline is February 10 instead of the old one of January 31. Governor...

The Central Bank of Nigeria (CBN) has unveiled the Nigerian national domestic card scheme. “The domestic card scheme is expected to strengthen the national payments system and deepen the usage of electronic...

The World Bank has downgraded Nigeria’s 2023 growth by 0.3 percentage point to 2.9 percent from its previous projection of 3.2 percent. This was contained in the bank’s Global Economic Prospects report...

According to the NNPC, Nigeria’s oil production as of December 6 is 1.59 million barrels per day. This was disclosed by the Chief Upstream Investment Officer at the NNPC Upstream Investment Management...

The Central Bank of Nigeria has imposed fresh cash withdrawal limits on individuals and organisations, effective on January 9, 2023. The apex bank made this known on Tuesday in a circular signed by CBN...

Seplat Energy Plc, leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, says that its energy transition priorities remain to end flaring, monetise gas, displace...

The Monetary Policy Committee of the Central Bank of Nigeria has unanimously voted to increase the benchmark interest rate (monetary policy rate) to 15.5% from 14% to curb inflation. CBN Governor, Godwin...

Fidelity Bank Plc has announced its proposed acquisition of a 100% equity stake in Union Bank Plc in the United Kingdom. According to a Press Release signed by Ezinwa Unuigboje, the Company Secretary on...

The Central Bank of Nigeria (CBN) yesterday released $265 million to foreign airlines operating in the country for the remittance of a part of their revenues trapped in the country. A breakdown of the...

The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.54 per cent in the second quarter of 2022 on a year-on-year basis. This is contained in a statement issued by the Statistician-General...

Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%. This compares to 18.6% recorded in the previous month of June 2022. The latest inflation data is according to the...

The Monetary Policy Committee of the Central Bank of Nigeria has unanimously voted to increase the benchmark interest rate (monetary policy rate) to 14% from 13%. This was disclosed by the Governor of...

The Federal Government yesterday announced the restructuring of five electricity distribution companies(DISCOS) in the country. This was contained in a statement jointly signed by the Executive Chairman...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to raise the Monetary Policy Rate (MPR) to 13 per cent. CBN Governor, Godwin Emefiele, announced this on...

The Board of the Nigerian National Petroleum Company Limited (NNPC) has expressed satisfaction with the progress of work done on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project and believed that the...

The Central Bank of Nigeria has fined four commercial banks a total of N800 million for failing to comply with regulations prohibiting consumers from transacting in cryptocurrencies. According to the CBN,...

The Federal Government has warned that it would no longer condone any form of criminality on the nation’s oil and gas facilities and installations, saying that crude oil thieves, pipeline vandals and...

The Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin...

The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively...

Traders in the South East of Nigeria under the aegis of SEAMATA, have strongly criticised and rejected the recent increment in the import duty on cargoes charged by the Nigerian Customs Service. SEAMATA...