Court Warns First Bank, Access Bank, and Zenith Bank, Managing Directors Risk Imprisonment
The Federal High Court in Abuja has issued strict warnings to three leading banks—First Bank of Nigeria Limited, Access Bank Plc, and Zenith Bank Plc—alerting their Managing Directors that they could face imprisonment for allegedly defying an existing…
Nigeria Set to Scrap Five Major Bank Charges From January 2026 Under New Tax Reforms
Starting January 2026, millions of Nigerians are set to benefit financially as the Federal Government eliminates five widely applied bank charges under its broad tax reform initiative. This move is part of President Bola Ahmed Tinubu’s fiscal reform…
Nigeria’s Borrowing Surpasses 2025 Budget Target by Over Half, Set to Hit 80% by Year-End
The Federal Government (FG) has borrowed N17.36 trillion from domestic and external sources in the first ten months of 2025, exceeding the prorated 10-month target of N10.9 trillion by N6.06 trillion, or 55.6 percent. The full-year borrowing ceiling…
Osinbajo Warns African Leaders Against Celebrating GDP Growth Without Real Development
Former Vice President Yemi Osinbajo has urged African leaders to move beyond celebrating Gross Domestic Product (GDP) growth that fails to improve citizens’ welfare. Speaking at the Ford Foundation’s 65th anniversary event in Abuja, Osinbajo said that…
FG Raises $2.35bn Through Eurobond Issuance
The Federal Government has successfully raised $2.35 billion from the international capital markets through a Eurobond issuance, despite recent comments by U.S. President Donald Trump threatening sanctions and possible military action over alleged…
Stock Market Sheds N246bn, Nigeria’s Bonds Decline Amid Trump’s Threats — Analysts Urge Calm
The Nigerian stock market lost about N246 billion on Monday as cautious investors reacted to U.S. President Donald Trump’s recent designation of Nigeria as a “Country of Particular Concern,” citing religious intolerance and the alleged persecution of…
12 Nigerian Banks Meet CBN Recapitalisation Thresholds Ahead of 2026 Deadline
With just six and a half months remaining until the Central Bank of Nigeria’s (CBN) March 31, 2026, recapitalisation deadline, at least 12 banks have successfully strengthened their balance sheets, meeting the capital thresholds that will define their…
Nigeria’s Foreign Reserves Rise to $40.11 Billion, Highest Since November 2024
Nigeria’s external reserves have risen to $40.11 billion as of July 2025, the highest level since November 2024, according to Central Bank Governor Yemi Cardoso. He made the announcement during the Monetary Policy Committee (MPC) briefing on Monday, July…
Subnational Debt Dips Slightly as States Rely More on CBN Amid Tight Credit Conditions
Fresh figures from the Central Bank of Nigeria’s latest quarterly statistical bulletin show that subnational debt fell slightly by ₦112 billion or 2.7 per cent, from ₦4.20 trillion in December 2023 to ₦4.09 trillion in December 2024. This indicates a…
IMF Issues Apology Over Remarks on Nigeria’s Economic Reforms
The International Monetary Fund (IMF) has issued an unusual apology over recent remarks on Nigeria’s economic reforms, following a strong response from Nigerian officials at the Spring Meetings in Washington, DC. The apology came after Senator Jimoh…