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Federation allocation to the federal government, states and local council areas (LCAs) declined to N2.103 trillion in September, compared to N2.22 trillion shared in August. The Federation Account Allocation Committee (FAAC) disclosed this on Friday, October 17. It said the allocation was shared at its October meeting, chaired by the Accountant General of the Federation, …

FAAC Allocation to FG, States, LGCs Rises to N2.22trn in August

The United Bank for Africa (UBA) Plc has unveiled a new white paper focused on driving sustainable growth and economic transformation across the continent with a target to unlock $4 trillion of domestic capital, among others. The document, 'Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,' was unveiled on the sidelines of …

UBA Headquarters, Marina, Lagos

Chairman of Heirs Holdings, Transcorp, and United Bank for Africa, Tony Elumelu in this interview with select journalist attending the International Monetary Fund/World Bank Annual meetings in Washington DC, spoke on a number issues including taking more risk with the pension funds You spoke on digital transformation and its benefits for Africa. What was your …

The Central Bank of Nigeria (CBN) stated that the country's monthly foreign exchange (FX) turnover increased to an average of $8.6 billion in 2025, attributing this to reforms surrounding remittance and other issues. The Deputy Governor for Economic Policy, Mohammed Sani Abdullahi, hinted at this on Wednesday, October 15, during an investors forum on the …

CBN Headquarters

Tony Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA), has called for the mobilisation of $4 trillion in domestic capital across Africa to fund large-scale investments in artificial intelligence (AI), energy, and infrastructure. This, he said, is key to a broader strategy of democratising prosperity across the continent. Elumelu made the call …

Nigeria's leaders remain focused on macroeconomic stability, fiscal discipline, and a strong growth trajectory as the nation prepares for a 7% GDP growth target by 2027. The Nigeria Investors Forum, held on the sidelines of the IMF-World Bank 2025 Annual Meetings in Washington, DC, offered a key opportunity for Nigeria’s officials to update investors on …

Wale Edun

Nigeria’s economy is diversifying, with non-oil revenue increasing by 57.5%, signalling the nation’s commitment to reducing oil dependency and boosting fiscal resilience. The Nigeria Investors Forum, held on the sidelines of the IMF-World Bank 2025 Annual Meetings in Washington, DC, served as an important occasion for Nigeria's leadership to share updates on the nation’s economic …

Nigeria will officially take over the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) from Argentina on November 1, 2025. The Central Bank of Nigeria (CBN) hinted at this on Wednesday, October 15. This comes after the federal government, in 2024, called for increased investments and trading partnerships from member countries of the G-24. READ …

Olayemi Cardoso, CBN Governor

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