Forex inflow rises 36.5% to $33.76bn in five months
By Elizabeth Adegbesan Nigeria’s net foreign exchange (forex) inflow rose by 36.5 percent year-on-year (YoY) to $33.76 billion in the first five months of 2026 (5M’26), from $24.72 billion in the corresponding period of 2025 (5M’25). The increase came amid ongoing efforts by the Central Bank of Nigeria (CBN) to deepen the foreign exchange market, […]
FINANCIAL INCLUSION: Nigeria still behind target – CBN
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, has said 74 percent of Nigerians have been covered under its financial inclusion program as at first half of 2025 (H1’25). Disclosing this in its latest Financial Stability Report, the apex bank stated: ‘‘At end-June 2025, the percentage of financially included Nigerians stood at 74 per cent.” The […]
Nigeria shows strong recovery, says Oduwole at World Economic Forum
By Progress Godfrey ABUJA — The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, has said that Nigeria’s economy is showing strong signs of recovery, with growth above four percent, inflation falling, and renewed interest from local and foreign investors. Oduwole said the country’s economic reforms, investment drive and global partnerships are reshaping Nigeria’s outlook […]
World Bank, WCO, Customs train officers for trade facilitation
By Godwin Oritse The Nigeria Customs Service (NCS), in collaboration with the World Customs Organisation (WCO) and the World Bank Group (WBG), commenced the WCO Accelerated Trade Facilitation Programme as part of ongoing efforts to strengthen trade facilitation, enhance compliance, and deepen Customs modernisation in Nigeria. The programme is designed to review previously agreed objectives and […]
6,422 insured depositors of defunct banks receive N3.31 bn in H1’25
By Elizabeth Adegbesan The Central Bank of Nigeria, CBN, said 6,422 insured depositors of 651 financial institutions were paid N3.31 billion in the first half of 2025 (H1’25). CBN disclosed this in its latest Financial Stability Report noting that the 651 financial institutions in liquidation comprises 50 Commercial Banks (CMBs), 546 Microfinance Banks (MFBs) and […]
FCCPC removes defaulting digital lenders from register
… as compliance window closes By Progress Godfrey ABUJA — The Federal Competition and Consumer Protection Commission (FCCPC) has begun enforcing regulations against Digital Money Lending (DML) operators that failed to regularise their status under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations). Vanguard recalls that the FCCPC had set January 5, […]
