Electronic payment transactions in Nigeria surged to N384 trillion in July this year, rising by 37.14 per cent from N280 trillion in August 2024. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, disclosed this at the ongoing Nigeria Fintech Week 2025, which started on Tuesday, October 7, and is being held in …
Nigeria’s non-interest capital market has grown to a valuation of over ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). Its Director-General, Emomotimi Agama, hinted at this during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled to be held in Lagos on November 4 …
President Bola Tinubu has requested the approval of the House of Representatives to secure approximately $2.3 billion in external loans to cover the 2025 budget deficit and refinance maturing Eurobonds, which will further raise Nigeria's debt profile. Nigeria’s total public debt rose to N149.39 trillion as of March 31 this year, marking a year-on-year increase …
The World Trade Organisation (WTO) has projected that countries will experience bleak trade growth in 2026 as the impact of the United States (US) President Donald Trump’s tariff kicks in. It gave the forecast on Tuesday, October 7, as it published its updated global trade outlook. While the WTO raised its forecast for trade volume …
The Central Bank of Nigeria (CBN) has insisted that agent banking services, including Point of Sale (PoS) agents, remain at ₦1.2 million and customer deposits, withdrawals, and bill payments at ₦100,000 a piece. It further restricts customers' deposits and withdrawals to ₦500,000 weekly and bill payments to ₦100,000 weekly. CBN issued the revised guidelines on …
The Debt Management Office (DMO) has opened for subscription, the October Federal Government of Nigeria (FGN) Savings Bond at a lower interest rate compared to the rate it offered in the previous month. DMO announced this in a circular on Monday, October 6. The offer opened today and will be closed on Friday, October 10 …
The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) said it is set for its 4th National Stakeholders’ Conference to discuss the Artificial Intelligence (AI) revolution in the Nigerian banking system. It announced this in a statement to Pinnacle Daily on Monday, October 6. The conference is themed 'AI & the …
The Presidential Fiscal Policy and Tax Reforms Committee has launched an Excellence in Tax Reform Reporting Award, offering ₦10 million prize money for the star winner. The committee chairman, Taiwo Oyedele, announced this at a press briefing with journalists on Friday, October 3, in Lagos State. He said the initiative is to recognise and reward …
The Central Bank of Nigeria (CBN) Olayemi Cardoso said the apex bank is collaborating with the Securities and Exchange Commission (SEC) to develop a sustainable framework for digital currencies in the country. He spoke on this at the CBN governor’s annual lecture series at the Lagos Business School (LBS) on Friday, October 3. According to …
The Presidential Fiscal Policy and Tax Reforms Committee has again engaged journalists, influencers, and public analysts to clarify some misconceptions surrounding Nigeria’s newly enacted tax reform laws. At the interactive session on Friday, October 3, in Lagos, the chairman of the committee, Taiwo Oyedele, highlighted key troubling spots, including personal income tax, value-added tax, tax …
