Imports choke textile industry, rise to N1.1trn in two years
Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
Transcorp Hotels appoints Awele Elumelu as board chairperson
Dr. Elumelu’s appointment follows the retirement of the current Chair, Mr. Emmanuel Nnorom, with effect from January 01, 2026.
How to protect your money from bank fraud (1)
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 inflation rate eased to 14.45% in November
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.
PoS Terminals: CBN gives one month deadline for dual connectivity
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 […]
Nigeria’s trade balance rises 43% to $19.3bn in 9mths
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 […]
