The Federal Government of Nigeria has set a bold revenue target of ₦40.7 trillion for 2026. Officials say the goal is to boost domestic revenue and reduce dependence on borrowing. The target, revealed at the Nigeria Revenue Service (NRS) Management Retreat in Abuja on Tuesday, represents a 44 per cent increase from the ₦28.29 trillion …
The Securities and Exchange Commission (SEC) has called on Nigerian civil servants to leverage opportunities in the capital market as a pathway to wealth creation, financial security and deeper participation in national economic growth. The Director-General of the SEC, Emomotimi Agama, made the call during a strategic engagement with the Head of Service of the …
Nigeria must reduce its reliance on borrowing and strengthen its domestic revenue base to stabilise public finances and fund sustainable development, Finance Minister and Coordinating Minister of the Economy, Wale Edun, said on Tuesday. Speaking at the Nigerian Revenue Service (NRS) management retreat in Abuja, Edun warned that the global financial environment had grown increasingly …
Fourteen years after the Central Bank of Nigeria (CBN) launched its financial inclusion strategy, an estimated 40 million Nigerian adults remain outside the formal financial system, highlighting the persistent gaps in access to banking and financial services. The figure is contained in a new report released by Enhancing Financial Innovation & Access (EFInA). Titled ‘Unlocking …
The Bank of Industry (BoI) has secured regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window, a move that marks a major milestone in the bank’s growth and long-term development strategy. In a statement, the BOI said the approval allows it to formally commence non-interest banking operations. The …
The Nigerian naira remained stable against the United States dollar on Monday, February 9, 2026. This stability marked the start of the second week of trading in the foreign exchange market. Overall, the currency continued to benefit from consistent policy support and improved market confidence. In the Nigerian Foreign Exchange Market (NFEM), the naira opened …
Dangote Refinery has announced plans to begin the local production of surfactants, a key raw material used in the manufacture of detergents and other cleaning products in Nigeria. Surfactants are essential ingredients in household and personal care detergents, commonly used for washing clothes, cleaning surfaces and maintaining personal hygiene. They are produced by refining petroleum …
Ecobank Transnational Incorporated posted a 30 per cent rise in profit before tax to ₦1.28 trillion, supported by growth in interest income, fees and customer deposits. The pan-African lender reported this in its 2025 unaudited financial statements for the year ended December 31, 2025, released on Friday. A review of the results by Pinnacle Daily …
In a major step to secure the Sahel region and boost regional trade, the Nigeria Customs Service (NCS) and the Niger Republic Customs Administration agreed to deepen cross-border cooperation. The move targets faster transit of goods, safer borders, and stronger efforts against terrorism and banditry. The announcement came during a high-level meeting at the Customs …
The Nigeria Customs Service (NCS) will now require all officers nationwide to undergo drug testing. The measure aims to boost discipline, strengthen security, and improve operational integrity. The announcement came from Assistant Comptroller-General Mohammed Babandede, Zonal Coordinator of Zone ‘A’, during a visit to the Apapa Area Command in Lagos. Babandede praised the Apapa Command …
