CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Fiscal policy, tariff amendments’ll boost local manufacturing —CPPE
By Yinka Kolawole The 2026 Fiscal Policy measures and Tariff Amendments recently approved by the Federal Government will engender a boost in domestic manufacturing and import substitution in the country, the Centre for the Promotion of Private Enterprise (CPPE) has stated. The measures include revisions to the Import Adjustment Tax (IAT) covering 192 tariff lines, selective […]
UBA assets hit N33trn, sustain growth momentum into Q1’26
By Babajide Komolafe United Bank for Africa Plc (UBA) has sustained its growth trajectory, with total assets crossing the N33 trillion mark and maintaining momentum into the first quarter of 2026, following strong growth in earnings in Full Year 2025 and Q1’26. The bank’s unaudited results for the first quarter ended March 31, 2026, showed that total […]
Banking, Industrial Goods drive stock market as investors gain N5.5trn
Peter Egwuatu The stock market extended its bullish run for the fourth consecutive week, supported by sustained investor interest in Banking and Industrial Goods stocks. Trading last week o the Nigerian Exchange Limited, NGX showed that market participants digested the first wave of the first quarter, Q1’26 earnings reports across the Consumer Goods, Cement, and Hospitality […]
Judgment debt: Court restrains ShopRite directors from selling shares, assets
A Federal High Court sitting in Ikoyi, Lagos, has restrained the Directors of Retail Supermarkets (ShopRite) from selling the shares or assets of the Company until the satisfaction of the judgment debt.
AXA Mansard grows insurance revenue by 22% to ₦160.6bn, navigates profit dip amid FX volatility
By Rosemary Iwunze AXA Mansard Insurance Plc has reported a 22 per cent increase in insurance revenues to ₦160.56 billion for the financial year ended December 31, 2025, underlining sustained growth momentum despite a challenging macroeconomic environment marked by inflationary pressures and foreign exchange volatility. The insurer, a member of the AXA Group, disclosed this […]
