By Obas Esiedesa, Abuja The Nigeria Extractive industries Transparency Initiative (NEITI) has urged civil society organisations (CSOs) to take a leading role in holding governments and companies accountable for their energy transition commitments. Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, made the call in Abuja during a courtesy visit to the Executive Director of the […]

By Providence Ayanfeoluwa To strengthen maritime security and enhance anti-smuggling operations, the Nigeria Customs Service, NCS and Defence Research and Development Bureau, DRDB  have jointly tested a homebuilt airboat at Jabi Lake, Abuja. The locally developed vessel, designed to maneuver in shallow and hard-to-reach waterways, was inspected and taken on a test run by officers […]

… As outflow increases by 382.2% By Peter Egwuatu The Foreign Portfolio inflow on the Nigerian stock market has increased by 354.4 % to N609.73 billion in seven months of 2025 (7M’25) against N134.19 billion in seven months of 2022(7M’22). The domestic and foreign transactions report released by the Nigerian Exchange Limited, NGX showed that foreign […]

OPEC+ has decided to ramp up oil output by 137,000 barrels per day (bpd) in October.

With the resurgence of merchant banking in Nigeria’s financial landscape in recent years, the sector operators are beginning to indicate that it actually plays crucial role in the country’s economy especially in funding businesses.

By Mariam Eko CreditPRO Finance Company Limited has officially joined the league of Central Bank of Nigeria (CBN)-licensed financial institutions, following its official launch in Lagos last weekend.  The firm, which began operations in 2019 under a Lagos State lending licence, said the new milestone would scale its operations nationwide and deepen its role in supporting […]

•Companies reduce bank loans by 24.9% •As finance cost drop 65.8% to N255.8 bn •Profit rebounds   •Manufacturers are adopting alternatives to bank loans – Analysts By Peter Egwuatu   There are indications that manufacturing companies are now finding alternatives to bank loans as the high interest rate regime in the economy scares them away. Financial Vanguard findings from […]

By Peter Egwuatu   Profit-taking activities persisted on the Nigerian Exchange Limited, NGX as the equities market for the fourth consecutive week sustained losses with the major performance indicator, NGX All-Share Index, ASI declining Week on Week, WoW by 0.9%. The Index closed lower in three of the four trading sessions of the week under review. Similarly, […]

By Godwin Oritse The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that the implementation of the National Single Window, NSW project will play a pivotal role in transforming trade facilitation in Nigeria and strengthening efforts to stabilise the economy. The Single Window project is a unified electronic platform that integrates various […]

By Obas Esiedesa The Niger Delta Power Holding Company (NDPHC) has reiterated its commitment to driving Nigeria’s electricity sector transformation, underscoring its role as a leading contributor to the nation’s energy value chain. Managing Director/Chief Executive Officer of NDPHC, Engr. Jennifer Adighije, in a goodwill message to Vice President Kashim Shettima on his 59th birthday, highlighted […]

By Emeka Anaeto, Group Business Editor, Babajide Komolafe, Economy Editor & Peter Egwuatu What is the historical profile of DavoDani (DD) Microfinance Bank and the major achievements of the bank in over a decade of operations? DavoDani Microfinance Bank is the product of a buyover of an existing unit microfinance bank that was incorporated and licensed in 2008.  However, in 2014 through […]

By Gabriel Ewepu The National President, National Cashew Association of Nigeria, NCAN, Dr Ojo Ajanaku, has alleged that those behind the Bill seeking to ban raw materials export in the agricultural sector want to cripple the nation’s cashew industry in order to force cashew farmers sell their cashew nuts cheaply to local processors instead of exporting them. In an interaction with […]

By Elizabeth Adegbesan  The Central Bank of Nigeria, CBN, yesterday directed financial institutions to submit all regulatory reports, correspondence, and related inquiries to its Director, Compliance Department through the established communication channels. The directive was contained in a letter to all banks, Payment Service Banks and other Financial Institutions (OFIs). The letter signed by the Director […]

By Mariam Eko The average price of refilling a 12.5kg cylinder of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas dropped by 17.4 percent on a month-on-month, MoM basis, to N11,875 in August 2025 from N14,375 in July. On a year-on-year, YoY basis, the average retail price declined by 16.7 percent from N14, 261.57 recorded […]

Emma Ujah, Abuja Bureau Chief The Federal Government has made Tax Identification, (Tax ID) compulsory for people getting involved in banking and allied services in the country.  Consequently, all taxable Nigerians are to obtain a Taxpayer Identification when the new tax Acts come into force in January 2026. The Tax ID is contained in the provisions of […]