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, […]
Nigeria’s reserves hit $54bn, highest in 18 years
Nigeria’s external reserves have risen to $54.08 billion, reaching their highest level in nearly 18 years and moving further above the Central Bank of Nigeria’s (CBN) projection for the end of 2026. Latest CBN data showed that the reserves reached $54.08 billion on September 3, compared with $53.99 billion on September 2 and $53.90 billion […]
Consumers pay N1.2trn for electricity in six months — NERC
By Obas Esiedesa, Abuja Electricity consumers across Nigeria paid about N1.2 trillion for power consumed in the first six months of 2026, according to data released by the Nigerian Electricity Regulatory Commission (NERC). The figure represents revenues collected by the 11 electricity Distribution Companies (DisCos), based on NERC’s monthly commercial performance reports between January and […]
Naira rises, now N1,405/$ in parallel market
The Naira yesterday appreciated to N1,405 per dollar from N1,410 in the parallel market on Wednesday. Likewise, the naira appreciated to N1,322.5 per dollar in the Nigerian Foreign Exchange Market, NFEM.
NNPC profit drops as revenue slips by 29.6% in July
The Nigerian National Petroleum Company Limited (NNPCL) recorded a sharp decline in profitability in July 2026, with profit after tax (PAT) falling to N279 billion from N535 billion in June, amid lower revenue and declines in crude oil and natural gas production. The latest figure represents a 47.9 per cent month-on-month drop in profit and […]
Insurance firms must adhere to prudential standards — NAICOM
By Emma Ujah, Abuja Bureau Chief ABUJA — The Commissioner for Insurance, Mr Olusegun Omosehin, has warned insurance companies to strictly adhere to prudential standards and ethical conduct following the conclusion of the industry’s recapitalisation exercise. Omosehin gave the warning on Thursday at the launch of the Insurance Sector Strengthening Programme (ISSP) in Abuja. He […]
