Nigeria’s crude oil production rose to an average of 1.56 million barrels per day (bpd) in June 2026, its highest monthly crude output since April 2020, according to the Nigerian Upstream Petroleum...

United Bank for Africa (UBA) Plc has announced that its Group Chairman, Tony Elumelu, will retire from the Board on August 21, 2026, after completing the 12-year tenure limit for non-executive directors...

The Securities and Exchange Commission (SEC) has admitted seven new digital asset companies into its Accelerated Regulatory Incubation Programme (ARIP), expanding regulatory oversight of Nigeria’s...

The Central Bank of Nigeria (CBN) has directed banks, payment service banks and other financial institutions to immediately identify and freeze all accounts, funds and assets linked to six individuals...

The Central Bank of Nigeria (CBN) has approved the redeployment of its four deputy governors, with the changes taking effect from June 1 as part of efforts to strengthen institutional efficiency and financial...

The Federal Ministry of Industry, Trade and Investment (FMITI) has announced a new partnership with RwandAir to expand Nigeria’s air cargo export corridor to East and Southern Africa, aiming to reduce...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 percent following the conclusion of its 305th meeting in Abuja. CBN Governor...

The Nigerian Exchange Limited has officially extended its daily trading hours, with the market now operating from 9:00 a.m. to 4:00 p.m. The new schedule, which took effect on Monday, April 27, 2026, replaces...

Africa’s richest industrialist and owner of the world’s largest oil refinery, Aliko Dangote is weighing a multi-exchange listing of his $20 billion oil refinery. Capital market experts believe...

The Organization of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production rose to 1.38 million barrels per day (bpd) in March 2026, up 5.25 per cent from 1.31 million bpd in February. Despite...

A Federal High Court in Lagos has ruled that the Central Bank of Nigeria (CBN) exceeded its powers in dissolving the board and management of Union Bank of Nigeria in January 2024. Delivering judgment,...

The Central Bank of Nigeria (CBN) has directed all International Money Transfer Operators (IMTOs) to open and maintain naira settlement accounts with authorised dealer banks as part of efforts to improve...

President Bola Ahmed Tinubu has sworn in Taiwo Oyedele as Minister of State for Finance, praising his expertise and dedication to public service. The brief ceremony took place at the Presidential Villa...

Nigeria’s headline inflation rate moderated marginally to 15.06 percent in February 2026, down from 15.10 percent recorded in January, according to the National Bureau of Statistics. Despite the slight...

The Central Bank of Nigeria (CBN) has directed banks to restrict access to certain banking services for large-ticket borrowers with non-performing loans in a move to strengthen credit discipline and protect...

President Bola Ahmed Tinubu has approved the appointment of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate. The appointment was made...

President Bola Ahmed Tinubu has announced the resolution of the long-running dispute over Oil Prospecting Licence (OPL) 245, describing the settlement as a major step toward unlocking significant deepwater...

The Senate Committee on Public Accounts has summoned a former Group Chief Executive Officer of Nigerian National Petroleum Company Limited, Mele Kyari, to explain an alleged ₦210 trillion flagged in...

The Alternative Bank (AltBank) has advanced discussions with the Federal University of Agriculture, Abeokuta (FUNAAB) and Tulima Farms and Agri-Processing LLC to establish an AI-enabled hydroponic farming...

The Central Bank of Nigeria (CBN) has reduced the benchmark interest rate by 50 basis points to 26.50 percent from 27 percent. The decision was announced on Tuesday at the Monetary Policy Committee meeting...