The Federation Account Allocation Committee (FAAC) stated that it has allocated N2.094 trillion to the three tiers of government as the Federation Allocation for October. It was disclosed at its November 2025 meeting, chaired by the Accountant-General of the Federation, Shamsudeen Ogunjimi, according to a statement signed by the Director of Information and Public Relations …
The Central Bank of Nigeria (CBN) stated that it has not granted an operating licence to Zuldal Microfinance Bank to conduct any business activities, describing the bank as an unlicensed entity operating illegally in the country. The apex bank made this known in a statement on Thursday, November 20, signed by its Acting Director of …
Zenith Bank Plc stated that plans are underway to expand its operations into the East African market, refuting recent media reports that it is in the process of acquiring Paramount Bank in Kenya. It hinted at this in a statement on Tuesday, November 18, by its Company Secretary, Michael Otu. Some media reports suggested that Zenith Bank …
The Managing Director/Chief Executive Officer (CEO) of Coronation Merchant Bank, Paul Abiagam, has said there is growth potential for Africa to unlock if the governments could trust financial institutions with managing the reserves of the nations. He said this at Arise TV’s Global Business Report on Tuesday, November 16, while sharing his thoughts on other …
The Centre for the Promotion of Private Enterprise [CPPE] has pointed out that, despite the overall disinflation report, five sectors accounted for 84 per cent of October’s inflationary burden. The sectors are food and non-alcoholic beverages; transport; housing, water, electricity, gas and utilities; education; and health. In a statement on Monday by its Chief Executive …
Nigeria’s headline inflation eased to 16.05 per cent in October relative to 18.02 per cent in September 2025, according to the latest report by the National Bureau of Statistics (NBS). The statistics office disclosed this in its monthly Consumer Price Index (CPI) report released on Monday, November 17. This is the seventh consecutive time headline …
The National Agency for Food and Drug Administration and Control (NAFDAC) decision to enforce a ban on the production and sale of alcoholic beverages in sachets, PET bottles, and glass bottles of 200ml and below has received the backing of Network for Health Equity and Development (NHED) and Corporate Accountability and Public Participation Africa (CAPPA). The two non-governmental organisations (NGOs) …
Amid Nigeria’s troubling macroeconomic environment, a renowned economist, Muda Yusuf, has said that the country could harness and maximise the opportunities that come with the recent positive ratings for its economy if the government shows commitment to addressing structural issues as well as concerns over the welfare of average Nigerians. Dr Yusuf expressed his thoughts …
The Socio-Economic Rights and Accountability Project (SERAP) has issued a seven-day ultimatum to the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, to account for or explain an alleged N3 trillion missing funds cited in the 2022 annual report of the Auditor-General of the Federation. The group said the report reveals a violation of public …
The Securities and Exchange Commission (SEC) said it is partnering with the Federal Mortgage Bank of Nigeria (FMBN) to develop a robust non-interest mortgage (NIM) ecosystem to tackle the country’s housing deficit. The partnership was unveiled at a high-level meeting in Abuja on Friday, November 14. It seeks to create and regulate viable, Sharia-compliant financing …
