Sacked former deputy governor of the Central Bank of Nigeria (CBN), Bala Bello, has expressed gratitude to President Bola Tinubu following his appointment as Special Adviser to the President on Political Economy. According to Bello, the new role will allow him to contribute more directly to the administration’s reform agenda. It will also allow him …
IEA Warns of historic supply shock as Middle East refineries, oil terminals face persistent attacks The Middle East energy landscape, long considered a major contributor to the global economy, is systematically being dismantled as the war between the United States, Israeli and Iran enters its third week. What began as a campaign targeting military …
Minister of Aviation and Aerospace Development Festus Keyamo has firmly stated that there is "no going back" on the implementation of the Federal Airports Authority of Nigeria (FAAN) cashless policy at airports across the country. This declaration comes after President Bola Tinubu temporarily suspended the full enforcement of the cashless system due to the significant …
Warnings of severe flooding in 2026 are casting a spotlight on infrastructure resilience in Edo State, even as the government ramps up spending on roads, bridges and public assets aimed at stimulating economic activity. The Nigerian Meteorological Agency (NiMet) has predicted above-normal rainfall during the 2026 rainy season, identifying Edo as one of the states …
Nigeria’s banking sector has raised a combined ₦3.85 trillion in fresh capital as of March 12, 2026, according to the latest update from the Proshare Nigeria Banking Sector Recapitalisation Compliance Tracker. The figure underscores the scale of the industry’s push to meet new regulatory capital thresholds ahead of the Central Bank of Nigeria’s (CBN) March …
A Federal High Court in Abuja has granted the Independent Corrupt Practices and Other Related Offences Commission (ICPC) permission to access and analyse electronic devices recovered from the residence of former Nasir El‑Rufai. Justice Joyce Abdulmalik granted the order on Thursday after hearing an ex-parte motion moved by ICPC counsel, Osuobeni Akponimisingha. The commission had …
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. …
