CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
NGX Group advocates stronger capital market integration into monetary policy framework
By Peter Egwuatu Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Temi Popoola, has urged the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to treat capital market development as a macroeconomic necessity, arguing that the effectiveness of monetary policy increasingly depends on the depth, liquidity, and coherence of Nigeria’s financial markets. Popoola made this […]
Weak manufacturing base threatens Nigeria’s economy — CPPE
By Yinka Kolawole Despite Nigeria’s modest economic growth in the first quarter of 2026, experts have raised concerns over the weak performance of the manufacturing sector, warning that the economy may struggle to achieve sustainable transformation without a stronger industrial base. Chief Executive Officer of the Centre for the Promotion of Private Enterprise, CPPE, Dr Muda […]
AfDB appoints Keyamo to lead $7bn Africa’s aviation transformation
The African Development Bank (AfDB) has appointed Festus Keyamo, Minister of Aviation and Aerospace Development, as the African champion for its $7 billion integrated aviation transformation programme for Africa (IATP). The bank said the appointment followed Nigeria’s “leadership and vision” in implementing policy reforms aimed at transforming the country’s aviation sector. In a statement, Tunde Moshood, […]
Oil revenue falls N7.88trn below budget target in Q3’25
By Emma Ujah, Abuja Bureau Chief Nigeria’s oil revenue performance fell sharply below budget expectations in the third quarter of 2025 (Q3’25), as the gross oil revenue stood at N4.87 trillion during the quarter, representing a shortfall of N7.88 trillion, or 61.8%, below the quarterly budget projection. This was revealed in the 2025 Q3 Budget Implementation […]
More woes for electricity consumers as power generation dips
There are indications that Nigerians and businesses may continue to grapple with an epileptic electricity supply, as generation dropped, yesterday, to 3,527.76 megawatts (MW), showing 877.28mw or 19.92 percent decrease, from 4,405.04MW recorded the previous day, according to data obtained from the Nigerian Independent System Operator (NISO). With critical electricity infrastructure struggling to maintain output, stakeholders […]
