The Central Bank of Nigeria (CBN) has directed banks to deny new credit and certain banking services to large borrowers with non-performing loans, as part of efforts to strengthen credit discipline and protect financial system stability. In a circular dated March 12, 2026 and addressed to all banks, CBN said the directive was issued to …
The Central Bank of Nigeria (CBN) has introduced new operational requirements for instant payments and stricter rules governing Bank Verification Number (BVN) operations as part of measures to strengthen fraud detection and ensure financial system stability. In a circular issued on Thursday and signed by the Director of the Payments System Policy Department, Musa Jimoh, …
As the Middle East conflict continues to cause global disruption of crude oil supply and prices hovering around $100 per barrel, there have been calls for the Nigerian government to stop crude exports and prioritise supply to Dangote Refinery to boost domestic supply of refined products. Energy expert and chief economic strategist, ECOWAS Commission, Prof …
China has condemned a new United States trade investigation into alleged industrial overcapacity and forced labour. The criticism comes just days before fresh trade talks between the two countries in Paris. China’s Ministry of Commerce said Washington has no right to decide unilaterally whether another country has excess industrial capacity. The ministry said the U.S. …
The African Democratic Congress (ADC) has dismissed reports claiming that Senator Ireti Kingibe, the senator representing the Federal Capital Territory, has been suspended from the party, describing the claims as false and misleading. In a statement issued on Thursday, the National Publicity Secretary of the party, Bolaji Abdullahi, said the ADC was not aware of …
As global oil prices remain volatile and Nigerian commuters grapple with soaring petrol costs, the Federal Government's push for Compressed Natural Gas (CNG) has emerged as a compelling alternative. President Bola Tinubu’s recent order for the immediate deployment of 100,000 CNG conversion kits further highlights the urgency to wean the country off expensive imported fuel. …
The Federal Government reduced its debt service spending sharply in early 2026. Payments dropped by 38.5 per cent year-on-year to $405.3 million in January 2026, down from $659.7 million recorded in January 2025. Data from the Central Bank of Nigeria (CBN) International Payments Report revealed the decline. Nigeria also recorded a slight drop in total …
Stakeholders in Nigeria’s maritime sector say the Middle East crisis may disrupt cargo movement into Nigerian ports. They also warn that prolonged conflict could raise shipping costs and worsen inflation across Nigeria and West Africa. Industry operators say the crisis already affects global shipping routes. Chairman of the Shipping Association of Nigeria, Boma Alabi, said …
The Court of Appeal sitting in Akure has affirmed Dr. Wole Oluyede as the duly nominated governorship candidate of the Peoples Democratic Party (PDP) for the 2026 Ekiti State governorship election. In a unanimous judgment delivered on Thursday, the three-member appellate panel set aside the earlier ruling of the Federal High Court in Ado-Ekiti which …
*CP Dantawaye urges officers to uphold professionalism as partnerships strengthen security across the capital.* Security infrastructure in the Federal Capital Territory received a boost on Wednesday as the Commissioner of Police, FCT Command, Miller G. Dantawaye, commissioned two newly built police outposts and laid the foundation for another within the Lugbe axis of Abuja. …
