The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Wednesday retained the benchmark interest rate at 26.5 per cent. CBN Governor Olayemi Cardoso announced the decision at the conclusion of the bank’s two-day MPC 305th meeting, held from 19 to 20 May in Abuja. The decision comes after the central bank … [Read more…]
Nigeria’s headline inflation rate rose to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March, reflecting a 0.31 percentage point increase, according to the National Bureau of Statistics (NBS). According to the data released on Friday, Consumer Price Index (CPI) stood at 138.3 in April, marking a 2.9-point increase from … [Read more…]
Central Bank of Nigeria (CBN) on Tuesday warned members of the public against fraudulent messages, emails and online communications falsely claiming to originate from the apex bank. The bank said the fake messages were designed to mislead the public and, in some cases, gain unauthorised access to personal accounts through malicious links and deceptive online … [Read more…]
Nigerian airlines have threatened to suspend operations nationwide from April 20, 2026, following a sharp surge in Jet A1 prices that has pushed aviation fuel above N3,000 per litre. The development was reported by Channels TV on Wednesday, citing a letter from the Airline Operators of Nigeria (AON) to the Major Energies Marketers Association of … [Read more…]
Nigeria’s total public debt rose by N14.61 trillion year-on-year to N159.28 trillion as of December 31, 2025, according to the latest data released by the Debt Management Office (DMO). The figures show that the country’s debt stock increased from N144.67 trillion recorded in December 2024, representing a 10.1% rise over the one-year period. In dollar … [Read more…]
The Enugu MSME & Startup Agency (Enugu SME Center) has called on youths, women, artisans, creatives, and entrepreneurs to participate in a nationwide upskilling programme aimed at improving employability and economic inclusion. The initiative, part of the Renewed Hope agenda of President Bola Ahmed Tinubu and aligned with the human capital development drive of Governor … [Read more…]
…NGX, UBA affirm Enugu’s positioning as an emerging investors’ haven … Tinubu’s economic reforms most significant in decades – Mbah Governor of Enugu State, Dr. Peter Mbah, has ignited foreign investors’ interest in the state with prospective investors expressing the readiness to immediately key into opportunities across various sectors of the state’s economy. Mbah said … [Read more…]
Thirty-four banks have met the new minimum capital threshold eight days to the deadline for banking recapitalisation, The Nation has confirmed. A provisional list reviewed yesterday showed that all the major banks with international banking licences, which control more than 70 per cent of the industry and most national banks have scaled the recapitalisation hurdle. … [Read more…]
The Central Bank of Nigeria (CBN) has issued a stern directive to commercial banks, ordering them to immediately halt the extension of further credit to “large-ticket obligors” who have failed to repay existing loans. This move targets high-value borrowers, both individuals and corporations, whose massive unpaid debts are deemed a systemic risk to the stability … [Read more…]
Dangote Refinery has reduced the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to N1,075 per litre, marking a N100 drop from the N1,175 per litre announced earlier this week, in a move that may ease pressure on fuel costs across the downstream market. The refinery announced on Tuesday that the price adjustment takes … [Read more…]
…Targets Regional Flights by Year End Enugu Air, on Tuesday, received the Air Operator Certificate, AOC, from the Nigerian Civil Aviation Authority (NCAA), a development it described as a significant step in the realisation of Governor Peter Mbah’s vision to position Enugu as a regional hub for commerce, logistics, and aviation in West and Central … [Read more…]
Four Nigerian billionaires, Aliko Dangote, Abdulsamad Rabiu, Mike Adenuga and Femi Otedola, have been listed among Africa’s richest individuals in 2026. This is according to the latest African billionaires ranking released on Monday by Forbes, which highlights the position of the continent’s wealthiest individuals in the global list. The billionaires’ net worths were calculated using … [Read more…]