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Nigeria’s trade sector attracted $65.79m in foreign capital in the first quarter of 2026, a 91.31 per cent rise from the $34.39m recorded in the same period of 2025, even as inflows moderated after a strong second half of last year. Data from the National Bureau of Statistics’ capital importation report showed the year-on-year…
The Nigerian naira held steady against the United States dollar at the start of June’s trading cycle. In the official foreign exchange window, the domestic currency exchanged at an average rate of 1,371 naira per dollar. Data from the FMDQ Securities Exchange tracked early morning transactions oscillating tightly between 1,370 and 1,372 naira. This relative…
The Central Bank of Nigeria has launched an aggressive financial strategy to drive the country toward a one-trillion-dollar economy. Dubbed the Payments System Vision 2028, the blueprint aims to drag an additional 50 million citizens into the formal banking system. Governor Olayemi Cardoso presented the four-year roadmap in Abuja, framing electronic payment channels as vital…
Nigeria’s Central Bank has opted to hold its benchmark lending rate steady at 26.5 per cent, resisting pressure from a fresh uptick in inflation and global economic uncertainty that analysts say tilted the policy balance firmly toward caution. CBN Governor Olayemi Cardoso announced the decision on Wednesday at the conclusion of the 305th meeting of…
The Nigerian naira recorded a mixed performance against the United States dollar on Wednesday, May 20, 2026, closing at ₦1,373.65 per dollar at the official Nigerian Foreign Exchange Market, a marginal depreciation of 15 kobo from the previous session’s rate of ₦1,373.50, according to data published by the Central Bank of Nigeria. At the…
The Federal Government has unveiled an online mediation platform to handle rising disputes between citizens and revenue agencies without charge. Minister of Finance Taiwo Oyedele launched the digital portal, toll-free call centre, and case management system for the Office of the Tax Ombud yesterday in Abuja. The newly established agency will act as an independent…
Nearly two-thirds of Nigerians are demanding a reduction in borrowing costs ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting scheduled for May 19 and 20, 2026, according to the apex bank’s own survey data. The CBN’s April 2026 Inflation Expectations Survey Report, released by its Statistics Department under the Economic Policy…
Nigeria’s headline inflation rate edged higher in April 2026, rising to 15.69 percent from 15.38 percent recorded in March, as persistent pressure from food prices, transport fares, hospitality costs, and healthcare expenditure continued to squeeze household budgets across the country. The National Bureau of Statistics disclosed this in its Consumer Price Index report released…
Nigerian telecommunications companies have committed 2.5 trillion naira to infrastructure upgrades to fix a worsening service crisis. This massive capital injection follows years of consumer complaints about dropped calls and vanishing data. The Nigerian Communications Commission (NCC) is driving this push to modernise a network that feels increasingly brittle under rising demand. Most of this…
The naira maintains its fragile grip on the 1,370 mark against the American dollar as trading opens this Thursday. Market data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) shows the local currency starting the day at 1370.05. This slight shift follows a week of incremental movements that suggest a cooling of the recent frantic…
