Former Vice President Atiku Abubakar has expressed concern over the appointment of Xpress Payment Solutions Limited as a new Treasury Single Account (TSA) collecting agent. He raised the concern in a statement on Sunday, November 23, urging the federal government to come clean with Nigerians. He likened the appointment to a dangerous resurrection of the …
Nigeria’s borrowing exposure to the International Development Association (IDA), a member of the World Bank, has risen to $18.5 billion amid worries over the federal government's borrowing spree. The IDA revealed this in its recent unaudited financial statements for the third quarter of 2025. IDA, a development finance institution, offers concessional loans and grants to …
The equities market extended its losses for the fourth straight week, as the All-Share Index (ASI) fell below 145,000 basis points amid persistent selloff pressure on the trading floor of the Nigerian Exchange Limited (NGX). In the week ended November 21, the ASI declined by 2.24 per cent to close at 143,722.62 bps, while the …
Foreign inflow into the Nigerian Exchange Limited (NGX) market declined significantly by 73.13 per cent to N87.45 billion in October 2025, compared to N325.46 billion in September. This was revealed in the monthly Domestic and Foreign Portfolio Investment Report for October 2025 released by the Exchange. A cursory review of the report reveals that, while …
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 …
