Food inflation still rising despite drop in headline rate
By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday said headline inflation rate slowed Month-on-Month (MoM) by 0.02 percentage point to 15.91 percent in June 2026 from 15.93 percent in May. The decline is coming after a three consecutive months rise in headline inflation rate since March 2026. However, despite the moderation in inflation rate, […]
Price hike: No subsidy on CNG, says FG
By Obas Esiedesa, Abuja The Presidential Compressed Natural Gas Initiative, PCNGI, has clarified that the federal government does not provide subsidies on Compressed Natural Gas, CNG, following the recent hike in pump prices by some operators. In a statement yesterday, PCNGI explained that pricing decisions are solely at the discretion of private sector players, while stressing […]
We’re honouring our obligations, Edun tells Islamic Development Bank
By John Alechenu The Federal Government has disclosed that it has been honouring its obligations with lenders despite the fiscal constraints and reaffirmed commitment to strengthening ties with the Islamic Development Bank (IsDB) and similar institutions, to deliver transformative development projects across priority sectors, especially infrastructure. The Minister of Finance and Coordinating Minister of the Economy, […]
Economic activities record 8th consecutive month expansion in July —CBN
•As Nigerians expect stable inflation rate By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, yesterday, said economic activities expanded for the eighth consecutive months at 52.7 index points in July 2025. CBN disclosed this in its Purchasing Managers Index, PMI, Survey Report for July. The report showed that out of the 36 subsectors covered in […]
Nigeria’s social welfare in ignominious state, says Economic Society
The Nigerian Economic Society (NES) on Tuesday described the state of Nigeria’s social welfare as ignominious, noting that 133 million citizens currently suffer deprivations across education, health, and living standards.
CBN’s new PoS regulations boosting e-payment efficiency
The Central Bank of Nigeria, CBN has explained that measures taken with the new Point of Sales, PoS regulations will boost payment efficiency and ensure that Nigeria’s e-payment space is safe and secure.
Union Bank completes merger with Titan Trust Bank
Under the terms of the merger, Union Bank has fully absorbed Titan Trust Bank’s operations and assets.
Collaboration among Fintech, banks & OFI’s key to drive sustainable growth
By Providence Ayanfeoluwa Financial expert, Samuel Olaniran, has called for increased collaboration between fintechs, traditional banks, and Other Financial Institutions, OFI’s to foster trust, improve customer engagement, and drive sustainable growth across the financial ecosystem. Olaniran emphasized that fostering a culture of collaboration is essential to drive innovation, strengthen security, promote inclusion, and build a […]
Apapa Customs collects N215bn on B’Odogwu in August
…As Comptroller Olomu reassures efficiency By Godwin Oritse Despite reported network glitches, the Apapa Command of Nigeria Customs Service has collected N215billion in the month of August 2025 using the Unified Customs Management System (UCMS) also known as B’Odogwu. Customs Area Controller of the Command, Babatunde Olomu, who described the collection as a product of […]
Digitvant MFB takes financial inclusion drive to traders in Lagos
By Cynthia Alo As part of efforts to deepen financial inclusion, Digitvant Microfinance Bank has taken its services to traders at Tejuosho Market in Lagos, promising customer-friendly banking solutions tailored to the realities of market men and women. Speaking during the financial inclusion programme, Head of Corporate Communications and Branding at Digitvant, Petra Akinti Onyegbule, said […]
Cost of fund cuts banks’ borrowings by 12% to N69trn
•As deposits with CBN soar 454 % By Elizabeth Adegbesan Banks’ borrowings through the Central Bank of Nigeria, CBN, Standing Lending Facility, SLF, declined by 12.4 per cent Year-on-Year, YoY, to N69.37 trillion in the first eight months of the year (8m’25) from N79.23 trillion in 8m’24. The CBN has two short term lending windows for banks; the […]
Naira rises to N1,540/$ in parallel market
The Naira yesterday appreciated to N1,540 per dollar in the parallel market from N1,545 per dollar last weekend.
CardCentre, telecom firm unveil eco-friendly SIM cards
By Peter Egwuatu Cardcentre Nigeria Limited, a subsidiary of Chams HoldCo and Africa’s leading smart card manufacturer, is taking innovation and sustainability to the next level with the launch of eco-friendly SIM cards across the Economic Community of West African States (ECOWAS). This pioneering initiative, developed in collaboration with MTN Nigeria, was officially unveiled in […]
Petrol consumption down 28%; pump hands idle at stations
•Operators recount ordeal, list causes •It’s trying time for marketers — IPMAN •Frequent price changes unhealthy for sector, expert warns By Obas Esiedesa Petrol consumption nationwide has fallen by 28 per cent over the past two years, as pump attendants across filling stations are left with scanty vehicular calls. Latest figures from the Nigerian Midstream and Downstream […]
Nigeria First’: FG targets N3trn earnings from policy — Minister
By Yinka Kolawole The ‘Nigeria First’ policy initiative of the federal government is expected to earn the country about N3 trillion in the short term if effectively implemented. Minister of State for Industry, Trade, and Investment, Senator John Enoh, stated this at a Ministerial Briefing on the forthcoming West Africa Industrialisation, Manufacturing & Trade (West Africa […]
Profit taking trails equities market
•As August turns out 0.3% gain By Peter Egwuatu Profit taking has continued to trail the stock market but the investors gained Month-on-Month, MoM, in August 2025 by 0.3% following the positive sentiments that sustained the market for most part of the month. Financial Vanguard MoM analysis shows that the Nigerian Exchange Limited, All Share Index, […]
