The Central Bank of Nigeria (CBN) has established an updated deadline and directives for all financial institutions in Nigeria, including banks, Mobile Money Operators (MMOs), Switching and Processing Companies, Payment Terminal Service Providers (PTSPs), Payment Solution Service Providers (PSSPs), Super Agents, and other licensed operators. These entities are required to transition to the ISO 20022…
The Nigerian stock market continued its upward trajectory on Tuesday, witnessing a significant increase of N203 billion. As a result, the market capitalization of the Nigerian Exchange Limited rose to N89.696 trillion from N89.493 trillion recorded on Monday, marking a 0.23 percent escalation. In alignment with this trend, the All-Share Index (ASI) experienced an uptick…
Two prominent oil and gas entities from Nigeria, the esteemed Nigerian National Petroleum Company Limited and Nigeria Liquified Natural Gas Limited, alongside various other key upstream gas producers, have successfully inked Gas Supply Agreements to facilitate the delivery of an impressive 1.29 billion standard cubic feet per day (bscf/d) of feed gas. NNPCL announced this…
FG, states, LGs divide N2.001trn July earnings The three tiers of the Nigerian government—federal, state, and local government councils—have allocated a remarkable total of N2.001 trillion, representing the Federation Account Revenue for July 2025. This substantial revenue was distributed during the Federation Account Allocation Committee (FAAC) meeting held in the capital, Abuja, in August 2025….
In a recent turn of events, the Naira made a notable leap in the parallel market, rising to N1,550 per dollar; a slight improvement from N1,555 the day before. This uptick offers a glimmer of hope for those closely watching currency fluctuations in Nigeria’s economy. However, it’s not all smooth sailing for the Naira, as…
As a frontrunner in payment technology in Africa, Flutterwave has introduced its referral initiative via Send App, its cross-border remittance platform. The incorporation of Swap into Send App has enabled users to smoothly convert Nigerian Naira (NGN) into various foreign currencies, thus supporting hassle-free cross-border money transactions. Remittances are projected to be a significant driver…
President Bola Ahmed Tinubu, along with the group chief executive officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, have elucidated that the inauguration of WAGL Energy Limited’s impressive 40,000 cubic metre (CBM) Liquefied Petroleum Gas (LPG) vessel will facilitate the provision of clean energy not only to Nigeria but also to Africa and…
The Nigerian government has promised to uphold its crude oil production above a monthly average benchmark of 1.5 million barrels per day. Gbenga Komolafe, the esteemed Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, unveiled this commitment at the recent Project One Million Barrels Initiative. In July, Nigeria’s average daily crude production soared to…
The Director-General of the World Trade Organization and former Minister of Finance for Nigeria, Ngozi Okonjo-Iweala, has conveyed to President Bola Ahmed Tinubu the subsequent two critical actions he must implement for the nation’s economy. The esteemed economist emphasized that President Tinubu, along with his team, must now endeavor to foster economic growth while establishing…
First City Monument Bank Ltd. (FCMB) has joined forces with the International Finance Corporation (IFC) to launch the transformative Goldman Sachs 10,000 Women program aimed at enhancing the entrepreneurial spirit. The Goldman Sachs 10,000 Women initiative is a worldwide movement designed to stimulate economic advancement by equipping entrepreneurs across the globe with hands-on education, engaging…
