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Amid local supply gaps, marketers, refineries export 505, 000 tons of petrol, diesel, earn $432.35m in one month
Shipping data obtained from the Nigerian Ports Authority (NPA) has disclosed that an estimated 505,000 tonnes of Premium Motor Spirit (PMS) or petrol, and Automotive Gas Oil (AGO) or diesel worth $432.35 million was exported by marketers and local refineries to…
Oil sector drives Nigeria’s current account surplus to reach $5.0bn in Q1 2026
According to the Central Bank of Nigeria (CBN), the country’s Balance of Payments (BoP) recorded a current account (CA) surplus of $5.0 billion in the first quarter of 2026, significantly higher than $1.4 billion in the fourth quarter of 2025 and…
Nigeria disengages third-party visa processing firm, directs U.S applicants to embassy, consulates
Nigeria Immigration Service (NIS) has announced its decision to disengage its third-party visa application service provider in the United States, the Online Integrated Solution (OIS Services) which previously handled the services for America-based travellers to the country. According to the…
CBN mops up N1.06trn excess liquidity from banking system, repays N2.21trn via maturing OMO bills
Central Bank of Nigeria (CBN), Wednesday, disclosed that it mopped up excess liquidity from the banking system, raising N1.06 trillion at its Nigerian Treasury Bills (NTBs) auction after the repayment of N2.21 trillion in maturing Open Market Operation (OMO) bills injected…
Standard, commemorative N100 banknotes still legal tenders — CBN clarifies
Central Bank of Nigeria (CBN) moved to clear the confusions trailing current rejection of the standard version of the N100 banknote by Nigerians, as it stated that the currency is still a legal tender. The regulator further warned individuals, businesses,…
CAC to enforce CAMA business document requirements from Aug. 1, warns companies to update mandatory particulars
Corporate Affairs Commission (CAC) says it will commence the enforcement of statutory requirements as listed in company business letters from August 1, 2026. CAC, while it warned that defaulting companies will face sanctions, explained that the enforcement will cover the full…
PenCom expands PenCare threshold, says only 8 states operate contributory pension scheme
National Pension Commission (PenCom) has increased the income eligibility threshold for its PenCare pilot programme, as it now allows retirees who earn monthly pensions of up to N150,000 to benefit from the free health insurance initiative, compared with the previous limit…
CBN caps payment, contract rights’ suspension for distressed banks at two days
Central Bank of Nigeria (CBN) has capped the period within which payment obligations and contract termination rights may be suspended when it intervenes in a distressed bank, at two working days. CBN, in a circular posted to banks and other operators…
Discos’ energy offtake drops by 8.6%, as FG incurs N358.3bn in tariff subsidy debt Q1, ’26
Nigerian Electricity Regulatory Commission (NERC) has disclosed that the federal government incurred an electricity tariff subsidy of N358.32 billion in the first quarter of 2026. NERC, which made the disclosure in its First Quarter 2026 Report released, Monday, explained that the…
NNPC, NCDMB, NiPeTE task professionals on competence-driven energy workforce
Industry leaders have challenged young professionals to prioritise competence, continuous learning and value creation as they prepare to lead the next phase of Nigeria’s energy transition, stressing that technical skills alone are no longer sufficient to succeed in an increasingly…
