Recapitalisation: Companies with outstanding claims will not be relicensed — NAICOM
By Rosemary Iwunze As the insurance recapitalisation deadline of July 31st 2026 draws near, the National Insurance Commission, NAICOM, has stated that it will not re-license any company with outstanding claims. In a letter to all Managing Director/CEOs of insurance companies, issued yesterday, titled: “Regulatory Directive – Settlement of Discharged Claims as A Precondition for Re-Licensing […]
SMEs get just 0.5% of banks’ credit in 10 years
…As banks lend N1trn to SMEs out of N199trn By Yinka Kolawole Small and medium-scale enterprises (SMEs) have received only 0.51 percent of total banks’ credit to the private sector over a 10-year period, available data has shown, underscoring severe financing constraints facing Nigeria’s biggest source of jobs. Analysis of the Central Bank of Nigeria (CBN) […]
13% Derivation: FG plots coordinates for new, disputed oil fields
By Obas Esiedesa, Abuja The Revenue Mobilisation Allocation and Fiscal Commission (FMAFC) have begun plotting coordinates for disputed and newly drilled oil and gas fields located on the boundaries of oil producing states. The fields involve Edo and Delta states, Ondo and Delta, Anambra and Delta, Anambra and Imo, Rivers and Imo, Rivers and Bayelsa, Rivers […]
Nigeria records 14% rise in exports to Africa
…as fuel tops export list By Emma Ujah, with agency reports Nigeria’s exports to Africa reached N4.82 trillion in the first half of 2025, up 14% year-on-year compared to N4.21 trillion in the first half of 2024. West Africa absorbed over 62% of Nigeria’s continental exports. Bashir Adewale Adeniyi, Comptroller General of the Nigeria Customs Service, […]
How CBN is building bigger, resilient banks through recapitalisation
By Babajide Komolafe, Economy Editor The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has continued to drive his vision of regulatory excellence aimed at strengthening Nigeria’s financial system. The ongoing bank recapitalisation exercise, with about 20 banks already meeting the new minimum capital requirements, underscores the apex bank’s resolve to entrench […]
Nigeria’s cross-border payments on PAPSS falls 53% to N5.6bn
By Babajide Komolafe Nigeria’s participation in the Pan-African Payment and Settlement System (PAPSS) recorded a sharp contraction in the first half of 2025, as the value of cross-border transactions processed through the platform fell by 53 per cent to N5.6 billion. The Central Bank of Nigeria, CBN, disclosed this in its Financial Stability Report, June 30th, […]
