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CBN extends POS geo-fencing deadline to August 1
Central Bank of Nigeria (CBN) has extended the enforcement of Point-of-Sale (POS) terminal geo-fencing to August 1, 2026. According to the regulator,the decision is intended to give financial institutions and payment service providers more time to comply with the regulatory requirement…
Retailers blame unstable forex, others for rising prices of cooking gas
Retailers under the aegis of the Liquefied Petroleum Gas Retailers Association of Nigeria (LPGAR) have blamed the rising prices of cooking gas in the country on foreign exchange instability, high depot prices, and distribution costs. Chairman of the group, Ayobami Olarinoye,…
Currency outside banks drops to N5.08trn in April, as CBN tightens grip on liquidity
Currency outside banks (COB) in Nigeria declined to N5.08 trillion in April 2026, according to data released by the Central Bank of Nigeria (CBN). CBN said the country’s COB fell to N5.083 trillion in April from N5.19 trillion recorded in…
Nigeria, AfDB sign $7bn deal on Integrated Aviation Transformation Programme
Nigeria and the African Development Bank (AfDB) have signed an agreement to formalise the $7 billion Integrated Aviation Transformation Programme (IATP) aimed at kick-starting reforms and unlocking large-scale financing for the aviation industry’s development across the continent. Minister of Aviation and…
NBS: Petrol, cooking gas continue price surge in April
National Bureau of Statistics (NBS) has said that the average pump price of a litre of premium motor spirit (PMS), also known as petrol, witnessed a surge from N1,288.54 in March to N1,532.93 in April. This is also the agency…
Hormuz: IMF, World Bank, IEA warn of acute fuel scarcity
Amid escalating prices of petroleum products, as well as, the liquefied petroleum gas (LPG) across parts of Nigeria, and the rest of the world, leaders of the International Monetary Fund (IMF), World Bank and International Energy Agency (IEA) have warned of…
FirstHoldCo shareholders approve capital raise to N253.099, as group targets N1tn
Shareholders of First HoldCo Plc have approved plans by the Board to shore up the capital base of the group to N253.099 billion as it aims to hit a paid-up capital of N1 trillion, comprising share capital and share premium….
Confusion, as MNOs resume data, airtime borrowing offers to Nigerians
Barely weeks after the Federal Competition and Consumer Protection Commission (FCCPC) had ordered Mobile Network Operators (MNOs) in the country to discontinue their airtime and data borrowing offers to customers nationwide, checks by the Oracle Intelligence, Friday, showed that two…
FG, consortium reach BOT agreement for $1.5bn 460MW Grand Katsina-Ala hydropower project
Nigeria has reached a build, operate and transfer (BOT) agreement with a consortium for the construction of a $1.5 billion Grand Katsina-Ala Hydropower Project in Benue State. The Nigerian government also confirmed the appointment of Maverick Energy Partners as the preferred…
Nigeria, World Bank restructure $500m education funding programme, as more states now to benefit
Nigeria and the World Bank have agreed to restructure the $500m HOPE for Quality Basic Education for All programme earlier approved for the country, last year, with more states now to benefit. The new structuring formula sees a cut in the…
