By Godwin Oritse The Nigeria Customs Service (NCS) has imposed a three per cent penalty on Designated Banks that fail to remit collected revenue within the stipulated timelines, following the discovery of lapses in remittances processed on its B’odogwu platform. The Service said reconciliation of transactions revealed delays by some banks in transferring revenues due to […]

By Godwin Oritse The management of Lekki Deep Seaport has disclosed that the port now operate at close to 50 per cent of its trade capacity, with steady month-on-month growth in container throughput since September, 2025. This is just as a recentlt released data from Nigeria’s “Trade by Top 10 Posts/Ports of Operation,” between first […]

By Obas Esiedesa, Abuja   The Federal Government has finalised plans to launch a N1.23 trillion Power Sector Bond as part of a broader N4 trillion debt programme designed to restore liquidity, stabilise the electricity market and rebuild investor confidence.   The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed at an Investor Forum […]

NDIC begins payment to depositors By Babajide Komolafe and Emma Ujah The Central Bank of Nigeria (CBN) has revoked the operational licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc, citing persistent violations of regulatory requirements and failure to meet prudential standards governing mortgage banks in Nigeria. The CBN’s decision was part […]

Dr. Elumelu’s appointment follows the retirement of the current Chair, Mr. Emmanuel Nnorom, with effect from January 01, 2026.

The non-bank fraudsters are not employees or officials of the bank. They are everyday people. Some of them may be former staff/officials of banks and hence have a good idea of the system

Nigeria’s headline inflation rate eased by 1.6 percentage points to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October 2025, marking the lowest level in five years.

By Elizabeth Adegbesan  The Central Bank of Nigeria,  CBN, has issued a one month deadline to Acquirers, Processors, Payment Terminal Service Aggregators and Payment Terminal Service Providers to establish dual connectivity    Point of Sale  transactions  with  the Nigeria Inter-Bank Settlement System (NIBSS) and Unified Payment Services Limited (UPSL). The directive, according to CBN, was to […]

By Elizabeth Adegbesan  Nigeria’s trade balance rose by 43.8 percent  year-on-year (YoY) to N19.32 billion in the first  nine months of the year  (9M’25) from $13.43 billion in 9m’25.  Financial Vanguard analysis of data from the  National Bureau of Statistics,  NBS, report titled, ‘Foreign Trade in Goods Statistics’ showed that the value of exports outweighed imports during […]

By Peter Egwuatu  The Nigerian stock market sustained its upward trend last week with investors gaining over N1.5 trillion.  The Nigerian Exchange Limited, NGX closed higher last week, deepening its recovery and reversing the weakness seen in November 2025, as buy interest resurfaced across major blue-chip and mid-tier counters. The bargain hunting in MTN led to […]