The Nigeria Deposit Insurance Corporation (NDIC) has significantly shifted its approach to handling failed banks, marking a crucial step towards reducing the risks of moral hazard in the country’s financial sector. This shift is particularly evident in the recent liquidation of Heritage Bank and other recent failures, such as Aso Savings and Loans and Union …
Nigeria has unveiled NES #31, the Reform Imperative, a national reform blueprint aimed at building a prosperous, inclusive, and accountable nation by 2030. The plan sets clear priorities for economic growth, social equity, and good governance while placing citizens at the centre of policymaking. The reform agenda emphasises execution discipline. Government agencies will operate under …
The United Bank for Africa (UBA Plc) has successfully exceeded the N500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for banks with international licences, ahead of the March 31, 2026, deadline. According to UBA’s 2025 half-year audited results, the bank’s share capital and share premium stood at approximately N350 billion. …
Nigeria’s non-oil exports rose by 21 per cent to $12.8 billion in the first half of 2025, data from the Federal Ministry of Industry, Trade and Investment showed. The figures were contained in the ministry’s 2025 activity review and outlook for 2026, which assessed Nigeria’s economic repositioning under President Bola Tinubu’s administration. The ministry said …
The Rivers State House of Assembly on Thursday commenced impeachment proceedings against Governor Siminalayi Fubara. The process was initiated during plenary, with lawmakers accusing the governor and his deputy of gross misconduct. Speaker of the House Martins Amaewhule presided over the session. Major Jack, the leader of the assembly, read out the allegations of gross …
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has received a notice of withdrawal of petition against the immediate past Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Aliko Dangote. The Commission said notice of withdrawal of the petition was submitted by legal counsel to Alhaji …
Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN). The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje. It hinted that following approvals from the …
Dangote Petroleum Refinery has debunked a report circulating in sections of the media claiming that the refinery is shutting down due to maintenance issues. In a statement released on Monday, the refinery management described the reports as “false and misleading” and accused fuel importers of deliberately sponsoring such fabrication because they felt their commercial interests …
The Nigerian stock market extended its bullish run on Monday, pushing total market capitalisation above the ₦100 trillion threshold. Market value rose by ₦1.87 trillion to ₦101.52 trillion, buoyed largely by the additional listing of 2.575 billion shares of First Bank on the Nigerian Exchange Limited (NGX). The All-Share Index (ASI) advanced 1.74 per cent …
In Nigeria, access to healthcare is often viewed as a privilege reserved for those who can afford it. In emergencies, that belief has shaped how hospitals respond, and in many cases, it has determined who lives and who dies. Yet, Nigerian law tells a different story. For more than ten years, a federal statute has …
