Nigeria’s external reserves have witnessed a surge in recent times, reaching a seven-year high of $46.7 billion as of November 14. According to the Central Bank of Nigeria (CBN), the figure can provide 10.3 months of import cover in goods and services. The CBN Governor, Olayemi Cardoso, hinted at this at the 20th Anniversary of …
The Central Bank of Nigeria (CBN) has issued a directive to financial institutions to implement mandatory dual connectivity for Point of Sale (PoS) transactions within one month. It gave the order in a circular, signed by the Director of the Payments System Supervision Department, Rakiya Yusuf, dated December 11. It said the move is to …
The Senate on Thursday received the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper from President Bola Tinubu, setting in motion the legislative review of the 3-year fiscal framework. The President's letter was read during plenary by the Senate deputy president, Barau Jibrin (APC, Kano North), who urged lawmakers to expedite consideration of the …
A new study has raised warnings of an alarming surge of Technology-Facilitated Gender-Based Violence (TFGBV). The study conducted by the pan-African organisation, Paradigm Initiative (PIN), shows 67 per cent of respondents being victims of at least one or multiple forms of digital violence. It was released on Wednesday, December 10, as the world marked International …
The Financial Services Innovators (FSI) on Tuesday celebrated its six-year milestone of building Africa’s innovation ecosystem. The organisation has, over the years, deepened its impact on inspiring technology talent within tertiary institutions and supporting startups through incubation, acceleration, and capacity-building programmes. Founded in 2019, FSI has committed to bridging the gap between innovation, practical skills, …
Nigeria slid to 18th position in Rand Merchant Bank’s (RMB) Where to Invest in Africa index (WTIIA) report for 2025/2026. The report, themed 'From Aid to Investment and Trade, offered insights into the continent’s top investment prospects. “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has …
President Bola Tinubu has set up a committee to resolve the ₦1.5 trillion backlog owed to 2,000 contractors. The Special Adviser on Information and Strategy, Bayo Onanuga, briefed state house correspondents after the Federal Executive Council meeting in Abuja on Wednesday, December 10. He said the President was “upset” after learning that about 2,000 contractors …
The Central Bank of Nigeria Governor, Olayemi Cardoso, has inaugurated the new Board of the Agricultural Credit Guarantee Scheme Fund (ACGSF). The apex bank made this known in a statement on Wednesday, December 10. Cardoso said the inauguration of the ACGSF board reaffirms the apex bank’s commitment to strengthening Nigeria’s agricultural sector. He highlighted the …
The Federal Government has directed Ministries, Departments and Agencies (MDAs) to defer 70 per cent of their 2025 capital allocations into the 2026 fiscal year. It gave the order in the 2026 Abridged Budget Call Circular, reportedly issued by the Ministry of Budget and Economic Planning to ministers, service chiefs, and heads of agencies. This …
FCMB Group Plc's profit before tax soared 46 per cent to ₦134.5 billion in the third quarter (Q3) of the year on stronger interest margins despite a decline in loans and advances to customers. The bank disclosed this in its unaudited financial statements for the nine months ended September 30, 2025. The results show that FCMB's …
