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Dangote Plans July Share Sale for 650,000 Bpd Refinery

Aliko Dangote says Nigerians may buy shares in the Dangote refinery by July, opening the 650,000 bpd project to public investors.

February 23, 2026

News

TCN Boosts Egbin Substation With New 300MVA Transformer

TCN increases Egbin Transmission Substation capacity to 450MVA with a new 300MVA transformer to strengthen electricity supply in Lagos.

February 23, 2026

Business

CBN Lifts Limits, Raises Weekly Withdrawal Threshold

The Central Bank of Nigeria has overhauled its cash-handling rules, lifting deposit limits and increasing weekly withdrawal thresholds to N500,000 for individuals and N5 million for corporates.

December 3, 2025

News

CBN Injects $1.25 Billion to Support Fuel Imports

The Central Bank of Nigeria disbursed $1.25 billion to petroleum marketers in the first quarter of 2025 to stabilise fuel import and supply

October 27, 2025

News

Afe Babalola Warns Nigeria’s Debt Crisis Hurts Investor Confidence

Afe Babalola warns Nigeria’s debt crisis is hurting investor confidence and calls for fiscal discipline, leadership reform, and stronger economic management.

October 18, 2025

News

Dollar To Naira Rate Steadies Amid Market Pressure

The dollar to naira exchange rate steadied on October 15, 2025, with official and parallel market rates showing minimal movement.

October 15, 2025

Business

Nigerian Banks’ Deposits with CBN Soar Dramatically High

The CBN's deposits from Nigerian banks grew by over 800% year over year in 2025. This shows that the money market was tighter and there was too much cash.

August 1, 2025

News

CBN Reports N38.8 Billion Profit, Reversing Heavy 2023 Loss

CBN rebounds from N1.15 trillion loss to report N38.8 billion profit in 2024

May 3, 2025

Business

Businessman Sentenced, Wristwatch Forfeited For Refusing Naira

Uzondu Chimaobi sentenced to four years in prison for refusing to accept Naira as payment, violating Nigerian law on legal tender.

April 16, 2025

News

Nigeria Records $6.83 Billion Payments Surplus in 2024

Nigeria records a $6.83 billion payments surplus in 2024, marking the first surplus in three years. Key reforms and trade performance contributed to the success.

April 10, 2025

News

Kenya’s President Ruto Nominates Interior Minister as New Deputy President

Zenith Bank has named Abiodun Durosinmi as its new CFO, following the Central Bank of Nigeria's approval of the appointment

October 19, 2024

Business

Nigeria’s Inflation Slows for the First Time in 19 Months

Nigeria’s inflation rate slows after 19 months of increase, offering brief relief but ongoing economic challenges remain.

August 16, 2024

Business

Nigeria’s Economic Activity Drops for 13th Straight Month in July

Nigeria's economic activity contracts for the 13th month, as rising costs and declining employment continue to hinder growth.

August 15, 2024

News

Nigeria’s Inflation Climbs to 34.19% in June, Driven by Food Prices

Nigeria's inflation rate rose to 34.19% in June, driven by rising food prices. This significant increase poses serious concerns for the economy and citizens.

July 16, 2024