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Forex unification improved market liquidity – CBN Gov., as Nigeria’s external reserves reach $52bn
Nigeria’s external reserves surged to more than $52 billion as of July 15, 2026, according to Central Bank of Nigeria (CBN) Governor, Mr Olayemi Cardoso. According to Mr Cardoso, the country’s net reserves also increased significantly from about $3 billion…
Sterling Bank, StarTimes launch N2bn ‘Solar Financing Hubs’ nationwide to drive renewable energy transition
(From left): Darlington Nwankwo, the Divisional Head, Renewable Energy and Mobility, Sterling Bank; Eric Xiao, Vice President, StarTimes Nigeria, and Kelly Aigbedion, the Head, Renewable Energy, Sterling Bank at the launch of the Sterling Solar Financing Hub in Lagos, recently
FAAC shares N2.5trn among FG, states, LGs in June, as revenue grows by N1.049trn in May
Federation Account Allocation Committee (FAAC) has shared a total of N2.550 trillion among the Federal Government, states and the Local Government Councils (LGs) for the month of June. A statement, Wednesday, confirming the development and signed by Bawa Mokwa, the…
CAC to deregister 100, 000 companies for breaching statutory filing obligations
Corporate Affairs Commission (CAC) has launched a fresh compliance exercise that puts 100,000 companies at risk of delisting from Nigeria’s official register for failing to meet statutory filing obligations. In a public notice issued, Wednesday, the commission accused the affected…
DisCos accuse NERC of ‘power grab’ as new CapEx provision accounts framework takes off
Electricity Distribution Companies (DisCos) have rejected the fresh order by the Nigerian Electricity Regulatory Commission (NERC) requiring them to establish dedicated Capital Expenditure (CapEx) Provision Accounts into which a substantial portion of their residual revenues must be paid after offsetting operating…
NLNG restates commitment to operational excellence
Nigeria LNG Limited (NLNG) has reaffirmed its commitment to maintaining safe, reliable and efficient operations, declaring that operational excellence will remain central to its efforts to set industry benchmarks and drive sustainable growth in Nigeria’s energy sector. The company made…
Africa’s gas challenge is delivery, not resources – Attah
Renaissance Africa Energy Company Limited has called for stronger alignment across the gas value chain to unlock Africa’s energy potential, strengthen energy security, and accelerate industrialisation. The company’s Managing Director and Chief Executive Officer, Tony Attah, stressed that Africa’s challenge…
PenCom hosts 11.32 m workers as assets jump 51% to $22.8 billion
Participation in the Nigerian contributory pension scheme has risen to significant 11.32 million workers, helping drive asset growth by 51 percent to 31.48 trillion in the last two years. The National Pension Commission (PenCom) declared in Abuja on Tuesday that…
Food prices drive inflationary trends for 3rd straight month
Frank Okon Nigeria’s annual inflation rate rose for the third consecutive month in May 2026, driven largely by persistent increases in food prices despite a moderation in the pace of monthly price growth. The latest Consumer Price Index (CPI) report…
Inflation, forex may worsen as Dangote Refinery dumps Naira for dollar pricing
Ziggy Ojegbe Nigeria’s downstream petroleum sector is facing a major policy and commercial shift after Dangote Petroleum Refinery discontinued naira-denominated sales of refined petroleum products, replacing them with dollar-based pricing in a move that could intensify pressure on the foreign…
