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CBN places four banks ‘under close regulatory supervision’ over failure to meet March 31 recapitalisation deadline
Central Bank of Nigeria (CBN) says it has placed four commercial banks under ‘close regulatory supervision’ over their failure to meet the March 31, 2026 recapitalisation deadline set for various categories of operators in the country. CBN it would be…
ECOWAS endorses $27bn Nigeria-Morocco Gas Pipeline project
Barely a month after Algeria kicked off work on its section of a proposed 4,100km long Trans-Saharan Gas Pipeline (TSGP) project involving Nigeria-Niger-Algeria, leaders of the West African sub-region have unanimously approved take-off of the Nigeria-Morocco Gas Pipeline (NMGP) also…
UK gets new PM, as Starmer steps down
King Charles III of Great Britain, Monday, officially appointed Mr. Andy Burnham as the new Prime Minister following the resignation of Keir Starmer. Starmer officially stepped down after tendering his resignation to the monarch at Buckingham Palace, paving the way…
ECOWAS gets new chairman, as Nigeria demands entire continent’s condemnation of xenophobic attacks in S/Africa
Nigeria’s President, Bola Tinubu has called on leaders of the Economic Community of West African States (ECOWAS), as well as other African countries to unanimously condemn the ongoing Afrophobic and xenophobia attacks on black immigrants in South Africa. According to…
NRS fixes deadline for national e-invoicing, electronic fiscal system compliance
Nigeria Revenue Service (NRS) has set a July 31 deadline for all large taxpayers to wholly adopt the national e-invoicing and electronic fiscal system (EFS). This follows a public notice issued by NRS on February 17, 2026, on the implementation…
CBN unveils fresh guidelines for BDC operators accessing forex
Central Bank of Nigeria (CBN) has released new operational rules on how licensed Bureau de Change (BDC) operators can acquire foreign exchange from the market. In a circular signed by Aderinola Shonekan, the CBN’s Director of Trade and Exchange Department,…
NIMC enrols 137m Nigerians into NIN database, as deadline for exercise nears
National Identity Management Commission (NIMC) says it has so far enrolled a total of 137,371,080 Nigerians into the NIN database, just as it acknowledged that millions more remained to be captured in the system. Director-General and Chief Executive Officer of…
Tinubu signs Executive Order to harmonise virtual asset regulation, as NRS to unveil tax policy for sector
President Bola Tinubu has signed an Executive Order to harmonise the regulation of virtual assets of the country. Titled; Virtual Assets Coordination, 2026, the order is also aimed at strengthening cooperation among the nation’s financial, revenue and capital markets agencies,…
BOI secures €60m credit support for Nigeria’s cocoa, dairy industry development
Bank of Industry (BoI) has secured a €60 million credit facility from the European Investment Bank (EIB) to support Nigeria’s cocoa processing and dairy industries, as the country intensifies efforts to move beyond exporting raw agricultural commodities. Managing Director and…
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…
