CBN Restricts BDC Access to Forex Market Over Compliance Risks
Nigeria’s apex bank, the Central Bank of Nigeria (CBN), has continued to limit the access of Bureau De Change (BDC)…
Category: Local
Reps ask NCC to extend SIM reallocation period over fraud, identity theft concerns
Nigeria’s House of Representatives has called on the Nigerian Communications Commission (NCC) to extend the SIM reallocation period from 180…
CSCS Declares N1.78 Dividend as Profit Climbs on Strong Market Activity
Shareholders of the Central Securities Clearing System Plc (CSCS) have approved a total dividend payout of N8.9 billion, translating to…
Naira Weakens to N1,369 per Dollar as External Reserves Drop $731 Million Amid FX Pressures
The Nigerian Naira weakened further on Monday, slipping to N1,369 per US dollar, down from N1,361.5/$ recorded at the end…
CBN Pushes for Single-Digit Inflation Target Amid Global Shocks as Nigeria Defends Economic Reforms
Nigeria’s economic managers are standing firm on their long-term goal of achieving single-digit inflation, even as global instability and fresh…
Shell Invests $16.4 Billion in ARC Resources Deal to Boost Canadian Gas and LNG Expansion
Shell is making a massive long-term bet on natural gas with a $16.4 billion agreement to acquire Canada’s ARC Resources,…
AI Reduces Nigeria Media Traffic by 26% as Digital News Consumption Shifts
Nigeria’s digital media landscape has experienced a major shake-up, with audience traffic dropping by 26.2% in 2025. According to the…
Nigerian Stock Market Drops N1.36tn as Banking Stocks Trigger Heavy Sell-Off
The Nigerian stock market opened the week on a bearish note as investors lost about N1.365 trillion in market value…
NGX ETF Market Suffers Broad Losses as SIAML Pension ETF Drops 40% in Weak Trading Week
Exchange Traded Funds (ETFs) on the Nigerian Exchange (NGX) ended the week on a broadly negative note for the period…
FGN Bond Auction Draws N948bn in Strong Investor Demand Across Three Maturities
Nigeria’s domestic debt market recorded a strong showing in April 2026 as the Federal Government’s latest bond auction attracted a…
Nigeria Stock Market Hits Record N4.14 Trillion in Q1 2026 as Investor Participation Soars to All-Time High
Nigeria’s stock market has recorded its strongest quarter in history, with total transactions surging to N4.14 trillion in the first…
Dangote Refinery Says Petrol, Diesel Prices Are Being Subsidised Amid Rising Crude Oil Costs
A senior official of the Dangote Group has disclosed that the Dangote Petroleum Refinery is currently subsidising the prices of…
FG Moves to Cut Aviation Fuel Costs with Naira-for-Crude Expansion
Nigeria’s federal government is considering a major shift in aviation fuel pricing as a technical committee recommends including Jet A1…
Nigeria Reduces Meta Fine in Data Privacy Case, Shifts Focus to Compliance Reform
Nigeria’s data protection regulator has clarified that the widely reported cancellation of a $32.8 million fine against Meta Platforms Inc.…
Nigeria Eurobond Rally Gains Momentum as Investors Shift to Mid-Term Bets
Nigeria’s Eurobond market is experiencing a strong rally, with yields dropping to their lowest level in four years as investors…
Nigeria Crude Oil Production Hits Five-Year High at 1.71 Million BPD — NNPC Limited Report
Nigeria’s crude oil production has climbed to 1.71 million barrels per day between April 2025 and April 2026, marking its…
Naira Outperforms African Currencies Despite Rising FX Pressure
Nigeria’s naira has emerged as one of the strongest-performing currencies in Africa so far in 2026, even as global financial…
Dividend Inflows and Earnings Optimism Drive Nigerian Equities Market Gains This Week
Financial analysts are projecting another positive week for the Nigerian equities market, as fresh dividend inflows and rising optimism around…
PenCom Policy Review Sparks N15.53 Trillion Nigerian Stock Market Rally in 14 Sessions
Nigeria’s equities market recorded a remarkable surge, adding about N15.53 trillion in value over 14 consecutive trading sessions. The rally…
CSCS Deepens Market Infrastructure Investment, Declares N1.78 Dividend Amid Expansion Drive
The Central Securities Clearing System Plc (CSCS) has reaffirmed its commitment to strengthening Nigeria’s capital market infrastructure through sustained investments…
No New Vehicle Tax Introduced by Federal Government, NRS Clarifies Viral Claim
The Nigeria Revenue Service (NRS) has debunked a viral social media infographic suggesting that the Federal Government has introduced a…
Bank Recapitalisation in Nigeria: Tinubu Commends CBN’s Cardoso Over Bold Financial Reforms
President Bola Ahmed Tinubu has commended the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for his ongoing…
CBN Mops Up N2.8 Trillion from Banks to Tighten Liquidity and Stabilise Naira
The Central Bank of Nigeria (CBN) has intensified its efforts to stabilise the foreign exchange market and control inflation by…
Dangote Refinery Expansion to Create 95,000 Jobs as Capacity Hits 1.4 Million Barrels Per Day
Aliko Dangote, President of the Dangote Group, has announced that the ongoing expansion of the Dangote Petroleum Refinery will generate…
Global Gas Pricing Boosts Nigeria LNG Expansion Amid Underinvestment Challenges
Global gas pricing trends are creating new opportunities for gas-producing nations, with Nigeria emerging as a key potential beneficiary. However,…
NNPC Denies Selling Refinery Scrap, Warns Public Against Fraudulent Claims
The Nigerian National Petroleum Company Limited (NNPC) has dismissed reports circulating online and in some circles claiming it is selling…
Nigeria’s Top Firms Pay Record N2.32 Trillion in Taxes as Banks Drive Corporate Contributions
Nigeria’s largest listed companies have set a new tax record, collectively paying N2.32 trillion in corporate income taxes in 2025,…
NUPRC Urges Local Refiners to Acquire Oil Blocks to Strengthen Crude Supply Chain
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has encouraged members of the Crude Oil Refinery Owners Association of Nigeria (CORAN)…
NGX Market Rallies as Financial Services Sector Drives N213bn Weekly Equity Turnover
The Nigerian Exchange Limited (NGX) recorded a stronger trading week as investors exchanged a total of 3.8 billion shares worth…
Nigeria’s Crude Oil Prices Surge Above $113 as Iran Crisis Disrupts Global Supply
Nigeria’s crude oil grades have rallied sharply as tensions in the Middle East continue to disrupt global energy supply chains.…