The Central Bank of Nigeria (CBN) has directed that each licensed Bureau de Change (BDC) operator can access up to $150,000 in foreign exchange weekly from the Nigerian Foreign Exchange Market (NFEM) through authorised dealer banks. The directive was issued on Tuesday in a circular signed by the CBN’s Director of Trade and Exchange Department, …
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 …
Nigeria’s long-running struggle with corruption has once again come under global scrutiny, as the 2025 Corruption Perceptions Index (CPI) revealed persistent stagnation and deep-rooted governance failures that continue to undermine public trust, democratic accountability and economic progress. The latest CPI, released by Transparency International and localised in Nigeria by the Civil Society Legislative Advocacy Centre …
The Nigerian Senate on Tuesday approved the use of both electronic and manual methods for transmitting election results, following weeks of public anger and protests over moves to limit electronic transmission in the ongoing amendment of the Electoral Act. The resolution was reached during plenary after lawmakers reviewed recommendations intended to address concerns raised by …
Russia has rejected claims that it is running any government-supported programme to recruit Nigerians to fight in Ukraine. Russian Ambassador to Nigeria, Andrey Podyolyshev, said on Tuesday in Abuja that any recruitment activity, if it exists, is not linked to the Russian state. Reports and videos had suggested that some Nigerians and other Africans were …
Former presidential candidate and activist, Omoyele Sowore, on Tuesday joined protesters at the National Assembly complex in Abuja, where demonstrators are calling for electoral reforms. Sowore, who addressed supporters shortly after arriving at the venue, said Nigeria’s political elite were incapable of reforming the system, accusing elected officials of abandoning the electorate once they assume …
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 Nigerian Senate on Tuesday approved the use of both electronic and manual methods for transmitting election results, following weeks of public anger and protests over moves to limit electronic transmission in the ongoing amendment of the Electoral Act. The resolution was reached during plenary after lawmakers reviewed recommendations intended to address concerns raised by …
