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 […]
Apapa traffic system review won’t disrupt ports — NPA
By Godwin Oritse The Nigerian Ports Authority (NPA) has assured port users and stakeholders that ongoing review of the Electronic Truck Call-Up System, popularly known as ETO, will not disrupt port operations or cargo movement. The Authority gave the assurance following the expiration of its agreement with Truck Transit Park Ltd (TTP), the firm managing the […]
Shipping firms defend freight hike, cite inflation and FX pressures
By Godwin Oritse The Shipping Association of Nigeria (SAN) has defended the recent increase in shipping and freight charges, attributing the adjustment to persistent inflationary pressures and volatility of the Naira against the US dollar and other foreign currencies. The association maintained that the rising cost environment has significantly impacted operational expenses across the maritime sector. […]
Nigeria’s oil output drops 9% to 1.483m bpd
•As NUPRC shortlists investors for 50 oil blocks By Udeme Akpan, Energy Editor Nigeria’s oil output, including Condensate, has dropped month-on-month, MoM, by nine per cent to 1.483 million barrels per day, bpd in February 2026 from 1.627 million bpd in January 2026. The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, disclosed this yesterday in its report – […]
National Single Window will fail without necessary infrastructure — Maritime expert
By Providence Ayanfeoluwa Industry expert and Chief Consultant at Global Transport Policy, Dr. Segun Musa, has described the National Single Window, NSW, as a shell to house agencies, adding that Nigerians should not expect the project to transform cargo clearance. He said that unless the agencies under the NSW are properly equipped with infrastructure, the initiative […]
NGX ASI crosses historic 200,000 marks as stock market rally continues
By Peter Egwuatu Nigeria’s stock market hit a major milestone on Monday, with the Nigerian Exchange Limited, NGX, All-Share Index (ASI) crossing the 200,000-points mark, buoyed by strong investor demand and broad-based gains across key sectors. The benchmark Index rose 1.55% to close at 201,474.89 points, up from 198,407.30 points in the previous trading session. This […]
FCMB completes N500bn recapitalisation, retains international license
FCMB Group Plc has completed the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and has secured its international banking licence after obtaining all required regulatory approvals. The Group raised more than N400 billion through a series of transactions, including public equity offerings, a convertible instrument, and a minority divestment in one of its […]
FGN Securities rises 16.7%, boosts pension fund assets to N28trn
By Peter Egwuatu Nigeria’s pension industry Net Asset Value, NAV, has increased significantly by 24.6% on the back of rising yield on investments in Federal Government of Nigeria (FGN) securities, according to data from the National Pension Commission (PenCom). The latest report from PenCom shows that total Assets under Management (AuM) rose Year-on-Year, Y-o-Y, to […]
LIVESTOCK ECONOMY: Importation extends dominance, rises 14.5% to N1.7trn
•Stakeholders lament structural challenges, make recommendations By Gabriel Ewepu Amidst efforts to diversify Nigeria’s economy, there are indications that dominance of foreign imported livestock products has been extended. Financial Vanguard’s findings from the National Bureau of Statistics, NBS, show that livestock and related products imports rose to N1.71 trillion in 2025, up by 14.5 per cent from […]
Visa partners Zenith Bank to launch signature card for affluent customers
By Efe Onodjae Visa International Service Association otherwise known as Visa Inc, has partnered with Zenith Bank to introduce the Visa Signature Card, a premium payment solution designed to meet the lifestyle and financial needs of affluent customers in Nigeria. The card was unveiled during a media briefing held at the Zenith Bank headquarters in Victoria […]
CBN restricts mobile banking app operation to one device
This means that a customer cannot operate the same bank mobile application on two different devices simultaneously in Nigeria.
Banks to establish temporary watchlist for BVNs implicated in suspected fraud
“A BVN may remain on this temporary Watchlist for a maximum period of twenty-four (24) hours, during this period, the BVN owner shall be contacted to provide clarification regarding the identified transaction(s).”
RMB Latitudes Art Fair announces Nigeria focus for 2026
By Babajide Komolafe RMB Nigeria Limited has announced Nigeria as the focus country for the 2026 edition of the RMB Latitudes Art Fair’s International Focus programme, an initiative that spotlights a different African country each year to promote cultural exchange and collaboration across the continent. RMB Nigeria, a member of the FirstRand Group and a leading […]
Nigeria’s economy will withstand shocks from US-Iran war — Cardoso
By Babajide Komolafe Governor of theCentral Bank ofNigeria, Olayemi Cardoso, yesterday said Nigeria’s ongoing macroeconomic reforms have positioned the economy to withstand potential shocks arising from escalating tensions in the Middle East. Cardoso stated this while delivering a Distinguished Alumni Lecture at the Founders Day celebration of St Gregory’s College Lagos in Lagos. He noted […]
CBN-led banks recapitalisation hastens FG’s quest for $1trn economy
By March 31, the ongoing recapitalisation of banks driven by the CBN will be over. Seen as one of the most ambitious exercises
Middle East war: TotalEnergies shuts 15% of gas, oil production
Brent is up around 38 percent from the eve of the conflict, which began on February 28 when the United States and Israel launched airstrikes against Iran.
