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Shareholders of Nigeria’s biggest lenders walked away from the 2025 financial year with a story of two markets. Six banks cleared the Central Bank of Nigeria’s eligibility test and pushed out a combined N1.27 trillion in dividends, according to findings published by Financial Vanguard. Five others, profitable on paper and in some cases record…
Nigeria’s currency closed the trading week on a remarkably even keel, with the naira quoted at about ₦1,368.22 to the United States dollar at the Nigerian Foreign Exchange Market on Friday, August 7, 2026, a level that caps one of the longest stretches of exchange rate calm the country has seen since the market…
Nigeria’s economic scoreboard has become the latest battleground between the presidency and the opposition, with Atiku Abubakar accusing the Tinubu administration of dressing up hard numbers to look better than the hardship Nigerians are living through. The African Democratic Congress presidential candidate, in a statement issued through his Senior Special Assistant on Public Communication,…
Households across Nigeria pulled back sharply from bank borrowing in 2025, pushing consumer credit into its first annual contraction in six years as punishing interest rates reshaped how Nigerians and their lenders approached debt. Figures contained in the Central Bank of Nigeria’s 2025 Annual Report and Statement of Accounts show that outstanding consumer credit…
Fresh monetary data from the Central Bank of Nigeria has put credit to the private sector at N83.3 trillion in June 2026, a 2.8 per cent rise from the N81 trillion recorded in May, offering the clearest sign yet that bank lending to businesses and households is recovering after a punishing first half of…
Seven prime properties spread across Lagos and Delta State, along with 2.045 million dollars in cash and two share certificates linked to former Central Bank of Nigeria Governor, Godwin Emefiele, have been permanently forfeited to the Federal Government after the Supreme Court on Friday, July 17, 2026, brought a two year legal contest to…
A sweeping retreat by Nigerian lenders has stripped N5.45 trillion in credit from eight critical sectors of the economy in the space of a single year, laying bare the cost of the Central Bank of Nigeria’s decision to force banks back to stricter prudential standards. The pullback, drawn from the CBN’s latest data on…
The Central Bank of Nigeria has revoked the operating licences of 46 microfinance banks across the country, deepening a regulatory purge that has now shut down more than 200 community lenders in three years. The apex bank announced the decision in a statement issued on Wednesday and signed by its Acting Director of Corporate…
Nigerian fixed-income investors should prepare for a prolonged stretch of elevated interest rates, with market analysts warning that any meaningful reversal in Federal Government bond yields is unlikely before the final quarter of 2026. The caution comes from Coronation Asset Management, whose June 2026 Economic Note projected that a mix of sticky inflation, a…
Banks and other financial institutions across Nigeria have been ordered to immediately freeze all accounts, funds and assets belonging to six individuals and four Bureau de Change operators designated for terrorism financing, as regulators move to disrupt money channels linked to the Islamic State network. The directive came in a circular dated June 24, 2026,…
