14 Nigerian banks yet to meet CBN’s recapitalization deadline
Fourteen Nigerian banks are yet to comply with the Central Bank of Nigeria’s (CBN) recapitalization directive as the deadline set by the regulator approaches. The policy, which requires banks to raise their capital base, is aimed at strengthening the financial system and improving banks’ ability to support economic growth. Industry analysts say the delay by […]
Naira extends appreciation against US dollar
The naira continued to strengthen against the US dollar at Nigeria’s official foreign exchange market on Wednesday. Data from the Central Bank of Nigeria showed that the currency improved slightly to ₦1,418.26 per dollar, compared with ₦1,419.07 recorded on Tuesday. This means the naira gained about 80 kobo in one day, continuing its recent upward […]
Grain production: Nigerian farmers appeal for subsidy after heavy losses in 2025
Over 2,000 maize farmers in Kaduna State have appealed to the Federal Government for urgent help after suffering massive losses during the 2025 farming season. The farmers said the sharp fall in maize prices, combined with the rising cost of fertiliser and other inputs, left many of them unable to recover their expenses. They warned […]
Petrol marketers signal cheaper fuel price in Nigeria, await Dangote Refinery action
Nigerian petroleum marketers have signaled plans to lower petrol prices nationwide, with premium motor spirit potentially selling near N739 per liter. The Independent Petroleum Marketers Association of Nigeria (IPMAN) said members would benefit from direct supply by Dangote Refinery at N699 per liter starting January 2026. IPMAN President Abubakar Maigandi told DAILY POST that once […]
31 ships with fuel, food items to arrive Lagos ports – NPA
The Nigerian Ports Authority (NPA) has announced that 31 ships loaded with fuel and food items are expected to arrive at Lagos ports in the coming days. The agency said the vessels are bringing in petrol, diesel, wheat, rice and other essential goods needed across the country. According to the NPA, the shipments are part […]
Naira continues gain against US dollar as Nigeria’s foreign reserves climb to $45.57bn
Nigeria’s currency, the naira, has continued to strengthen against the United States dollar as the country’s foreign exchange reserves increased to about $45.57 billion. Analysts say the improvement reflects better inflows from crude oil sales, growing investor confidence, and tighter management of the foreign exchange market by the Central Bank of Nigeria. Market watchers explain […]
New tax law could ignite job loss, destroy small businesses — Group warns
A civil society group has warned that the newly introduced tax law could lead to job losses and the collapse of many small and medium-sized businesses across the country. The group said the policy, if not reviewed, may place heavy financial pressure on entrepreneurs who are already struggling with rising costs and low consumer spending. […]
Naira records N100 appreciation against dollar, foreign reserves rise to $45.5bn in 2025
The Nigerian Naira has strengthened against the US dollar, recording a notable N100 appreciation in 2025. The Central Bank of Nigeria (CBN) data revealed that this gain reflects growing confidence in the currency amid global and local market dynamics. Experts attributed the Naira’s improvement to robust foreign exchange management and rising investor interest. Analysts also […]
Tax law: Insisting on Jan 1 implementation insult to Nigerians, rule of law – Adeyanju to Tinubu
Human rights activist, Deji Adeyanju, has criticised the Federal Government for insisting on implementing the new tax law from January 1. He described the decision as disrespectful to Nigerians and a violation of the rule of law, especially as the law is still being debated and challenged in some quarters. Adeyanju said that forcing the […]
Tax law rollout: Nigerians should exercise caution – Budget Office
The Budget Office of the Federation has advised Nigerians to be careful as the new tax laws begin to take effect across the country. The office said while the reforms are meant to improve revenue and strengthen the economy, people and businesses should take time to understand how the changes affect them before making financial […]