Fourteen Nigerian banks yet to meet CBN’s recapitalisation ahead of deadline
Fourteen Nigerian banks have reportedly not met the Central Bank of Nigeria’s (CBN) recapitalisation requirements as the deadline approaches. This shortfall has raised concerns about the stability and readiness of these banks to comply with regulatory standards. The CBN had set the recapitalisation directive to ensure that banks maintain adequate financial strength to support economic […]
Naira records three straight appreciations against US dollar
The Nigerian Naira has continued its positive movement, recording three straight days of appreciation against the US dollar. This improvement has brought relief to many Nigerians, especially importers and businesses struggling with high exchange rates. Market watchers say the steady rise shows growing confidence in recent government policies targeting the foreign exchange market. According to […]
N5.5bn Defamation Suit: SERAP witness admits using unlawful words against DSS in publication
A witness representing the Socio-Economic Rights and Accountability Project (SERAP) has admitted in court that the organisation used “unlawful” or inappropriate words against the Department of State Services (DSS) in one of its publications. This came up during the ongoing N5.5 billion defamation suit filed by the DSS against SERAP over alleged damaging statements made […]
Q3 2025: Fidelity Bank grows interest income by 33%, fee income by 47%
Fidelity Bank has reported significant growth in its financial performance for the third quarter of 2025. The bank’s interest income rose by 33%, reflecting a strong increase in lending activities and investments. Additionally, Fidelity Bank’s fee income surged by 47%, driven by higher transaction volumes, advisory services, and increased digital banking adoption. The growth highlights […]
CBN cautions against mishandling of Naira
The Central Bank of Nigeria (CBN) has again warned Nigerians to stop damaging, abusing, or mishandling the Naira. The bank said many people still fold, tear, or write on the currency, which reduces its quality and increases the cost of printing new notes. According to the CBN, the Naira is a national symbol and should […]
Investors storm Nigeria’s T-Bills as subscriptions exceed over N1.2tn
Investors have shown strong appetite for Nigeria’s Treasury Bills (T-Bills), with total subscriptions exceeding N1.2 trillion. The surge in demand highlights growing confidence in the government’s short-term debt instruments and reflects a positive outlook on Nigeria’s financial market stability. The Central Bank of Nigeria (CBN) reported that both retail and institutional investors actively participated in […]
NGX bleeds again as Investors lose N1.5trn in three-Day market meltdown
The Nigerian Exchange (NGX) has recorded another major drop as the stock market continued its downward trend for the third straight day. The persistent sell-offs have wiped out an estimated N1.5 trillion from investors’ wealth. Many traders are becoming worried as the market struggles to recover from ongoing economic pressure and weak investor confidence. Analysts […]
Naira records first appreciation against US dollar as foreign reserves hit $46.7bn
The Nigerian naira has recorded its first major appreciation against the US dollar in months, following a boost in the country’s foreign reserves. According to recent data, Nigeria’s reserves have climbed to $46.7 billion, giving the currency some much-needed support in the foreign exchange market. Analysts say this improvement signals a positive shift in market […]
Fuel price reduction: Dangote Refinery, petrol marketers clash over reason for drop
The recent drop in petrol prices has sparked a disagreement between Dangote Refinery and petroleum marketers, with both sides offering different explanations for the reduction. While Dangote insists the price cut is a result of its efforts to stabilise the market and make fuel more affordable for Nigerians, some marketers argue that competition and changing […]
Nigeria’s inflation rate drops for seventh consecutive time in October
Nigeria recorded another decline in its inflation rate in October, marking the seventh consecutive month of easing price pressures. According to analysts, this continued moderation is a sign that recent monetary policies and supply-side adjustments may be gradually stabilising the economy. Although prices remain high for many households, the steady decline offers some relief and […]