By FIDELUS ZWANSON THE Central Bank of Nigeria’s surprise rate cut to 27.5% has sparked debate, but the apex bank insists it is no gamble. According to Director of Monetary Policy, Dr. Victor Oboh, the move is a “calibrated step” to ease borrowing costs, stimulate growth, and still hold the line against inflation and currency […]
By OBIOMA TORI FIRSTBANK has announced plans to roll out tailored financial services for blind, partially sighted, and physically challenged customers across its branches and subsidiaries. The initiative, part of the bank’s financial inclusion and diversity drive, will make transaction documents available in braille, audio, large print, and digital formats. ATMs will be upgraded with […]
By TANIMU YAKUBU WHEN President Bola Tinubu scrapped Nigeria’s rigid forex regime in 2024, critics called it a currency collapse as the naira sank to ₦1,800/$1. But by August 2025, the naira had rebounded to ₦1,525/$1—thanks to policy shifts that cleared $4bn in FX backlogs, boosted investor trust, and unified the exchange market. The weaker […]
By OBIOMA TORI THE federal government’s newly gazetted tax laws promise a historic shift in Nigeria’s fiscal landscape. Among the most talked-about provisions is the 20% rent relief for tenants, capped at ₦500,000. On paper, this appears to be a victory for millions of Nigerians struggling with rising housing costs. In reality, it exposes both […]
By FIDELUS ZWANSON THE Nigerian Economic Summit Group (NESG) says attracting both domestic and foreign investment is critical for Nigeria to sustain economic growth and deliver prosperity. Ahead of the 31st Nigerian Economic Summit scheduled for 6–8 October in Abuja, NESG Acting Head of Strategic Communication, Ayanyinka Ayanlowo, stressed that investor confidence hinges on strong […]
By ANITA KNIGHT BILATERAL trade between China and Nigeria reached $15.48 billion from January to July 2025, a 34.7% increase over the same period in 2024, according to Ms. Yan Yuqing, Consul-General of China in Lagos. Speaking at a reception marking China’s 76th anniversary, Nigeria’s 64th independence, and the Mid-Autumn Festival, Yuqing described Nigeria as […]
By OBIOMA TORI THE Federal Government has revoked 1,263 mineral licences for default in payment of annual service fees. Minister of Solid Minerals Development, Dr. Dele Alake, approved the revocation on the recommendation of the Mining Cadastre Office (MCO). The licences revoked include 584 exploration licences, 65 mining leases, 144 quarry licences, and 470 small-scale […]
By OBIOMA TORI EQUITIES trading on the Nigerian Exchange (NGX) slumped by 49.95% to ₦908.38 billion in August 2025, down from ₦1.815 trillion in July, according to the latest report. Domestic investors accounted for 62% of transactions but fell sharply by 55.87% to ₦736.57 billion due to the absence of July’s large block trades. Retail […]
By OBIOMA TORI THE Naira closed the week stronger on Friday, appreciating by 0.7% to ₦1,487.89/$1 at the official market, according to Central Bank of Nigeria (CBN) data. The currency gained ₦11.08 from Thursday’s ₦1,498.97/$1, marking a bullish finish after mixed performances earlier in the week. It had opened with gains on Monday but saw […]
By FRED LONGJOHN OBEH NIGERIA’S Minister of Marine and Blue Economy, Adegboyega Oyetola, has urged global investors to seize opportunities in Nigeria’s maritime sector, describing it as a gateway to Africa’s economic growth. Speaking at the London International Shipping Week (LISW) 2025, Oyetola—represented by NIMASA DG Dr. Dayo Mobereola—highlighted Nigeria’s reforms in port modernisation, maritime […]