With Nigeria’s banking recapitalisation exercise now concluded, attention is shifting to whether stronger banks will finally channel more credit to agriculture, manufacturing, and small businesses, sectors widely seen as underserved despite their crucial role in driving economic growth. This position was outlined by Ummie Kabir, a PR consultant with Apex Media Services, who argued that …
The Securities and Exchange Commission (SEC) said it will begin a one-business-day settlement cycle (T+1) for equities and commodities transactions in Nigeria’s capital market from June 1, 2026. The move will replace the current two-day settlement system, the commission announced in a statement on Tuesday, May 19. It noted that the new framework is part …
The Federal Government’s May 2026 bond auction attracted total demand of ₦796.17 billion, with investors showing a stronger appetite for longer-term debt instruments, according to results released by the Debt Management Office (DMO). The auction, conducted on May 18, featured the re-opening of two existing Federal Government bonds with a combined offer size of ₦600 …
The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has begun the implementation of a new Taxpayer Identification (Tax ID) system for all taxable persons in Nigeria. The agencies announced the rollout in a public notice issued on Monday, May 18, saying the initiative is in line with Sections 6, 7 …
Billionaire businessman Femi Otedola has been shortlisted for the 2026 BCA African Business Book of the Year Awards for his book, 'Making It Big: Lessons from a Life in Business'. The shortlist, unveiled by the Business Council for Africa (BCA) in partnership with the Africa Finance Corporation, African Business and BrandComms, features books exploring leadership, …
Former Anambra State governor and 2023 Labour Party presidential candidate Peter Obi has warned that President Bola Tinubu’s disclosure that Nigeria will spend about $11.6 billion on debt servicing should alarm anyone concerned about the country’s future. In a statement posted on his X handle on Monday, Obi said the size of the planned debt …
Nigeria’s two biggest telecom operators, MTN Nigeria and Airtel Nigeria, spent the last five years pouring billions into 4G, 5G, fibre networks and spectrum licences. The two giant telecoms companies also generated record revenues, driven increasingly by data consumption rather than traditional voice calls. However, across the same period, Nigerians continued to complain about dropped …
The Our Water Our Right Africa Coalition (OWORAC) has warned that growing efforts to expand private sector participation in Africa’s water sector could weaken public accountability and limit access to safe water if communities and workers are sidelined in implementing the Africa Water Vision (AWV) 2063. The warning was contained in a statement issued on …
Muda Yusuf, a renowned economist, has warned that any rate hike could hurt economic growth, weaken businesses and do little to address Nigeria's inflation problem. His warning comes ahead of the Central Bank of Nigeria (CBN) 305th Monetary Policy Committee (MPC) meeting scheduled for May 19–20, 2026, in Abuja. In a statement issued on Sunday, …
Nigeria’s credit system is failing millions of small businesses and choking economic growth, the Alliance for Economic Research and Ethics has warned. The group pointed this out in a policy document titled 'A Policy Analysis on SME Credit, Development Finance, and the Imperative of Structural Reform', which it issued on Sunday, May 17. It blamed …
