ATM transactions rise 208% to N89trn
By Elizabeth Adegbesan The value of Automated Teller Machines (ATM) transactions grew sharply by 208.4 percent year-on-year (YoY) to N89.12 trillion in 2025 from N29.12 trillion in 2024. The Central Bank of Nigeria, CBN, disclosed this in its 2025 Annual Report noting that the increase in ATM transactions reflects user preferences, adoption of digital channels, […]
CBN retains rate at 26.5%, cites Middle East tensions
•Says banks no longer need forbearance •External reserves sustains upward trend, hit $52.5bn By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 per cent. CBN Governor, Mr. Olayemi Cardoso, announced the decision yesterday after the 306th Monetary Policy Committee (MPC) meeting in Abuja. He […]
E-invoicing: NRS sets July 31 deadline for compliance
By Providence Ayanfeoluwa The Nigeria Revenue Service, NRS, has set July 31, 2026, as the deadline for all large taxpayers to fully adopt the national e-invoicing and Electronic Fiscal System (EFS). This follows a public notice issued by the NRS on February 17, 2026, on the implementation timeline and the mandatory adoption of the national e-invoicing […]
FGN bonds attract N1.74trn, records 45% oversubscription
By Elizabeth Adegbesan The Federal Government of Nigeria (FGN) bond auction in July 2026 was oversubscribed by 45 percent, or N540 billion, attracting total subscriptions of N1.74 trillion against the N1.2 trillion offered by the Debt Management Office (DMO). This reflects strong investor demand for Federal Government of Nigeria (FGN) debt instruments. According to the July […]
NIMASA reviews ship-port security protocols
By Godwin Oritse In a bid to strengthen security at Nigerian ports, the Nigerian Maritime Administration and Safety Agency (NIMASA) has commenced a review of security protocols governing interactions between ships and port facilities. In a notice issued to all maritime security stakeholders, NIMASA stated that all vessels are required to submit their Security-Related Pre-Arrival Information […]
Dangote Refinery ramps up fuel exports as crude shortages, forex squeeze bite
By UdemeAkpan, Energy Editor The Dangote Petroleum Refinery has significantly increased exports of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange constraints continue to hamper its operations. This comes as rising global crude oil prices are expected to increase feedstock costs for the 650,000-barrels-per-day refinery, although stronger prices for refined petroleum […]
