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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…
Nigeria Customs rakes in N7.3trn to exceed 2025 revenue target by 10.2%
Nigeria Customs Service (NCS) says it has already exceeded its 2025 year-on-year revenue projection as it generated N7.277 trillion so far this year. The service said it had projected a revenue of N6.584 trillion for 2026 but has now exceed…
Nnorom to replace Elumelu as UBA appoints new Group Chairman
United Bank for Africa (UBA) Plc has confirmed that its Group Chairman, Tony O. Elumelu, will retire from the Board of Directors on August 21, 2026, after completing the 12-year tenure limit for non-executive directors. The bank also announced the appointment…
Nigeria, UNDP, REA launch first phase of Africa Minigrids Programme for rural communities
Nigeria has launched the Africa Minigrids Programme (AMP), a renewable energy initiative aimed at expanding electricity access to underserved communities, stimulating rural economies and accelerating the country’s transition to clean energy. The Africa Minigrids Programme is being implemented through a partnership involving…
FG moves to unify digital platforms for business registrations
Federal Government, through the Presidential Enabling Business Environment Council (PEBEC), has unveiled plans to create a unified digital platform that will allow Ministries, Departments and Agencies (MDAs) to securely share information on requests by entrepreneurs across the country to register their…
BOI appoints capital firm to manage $170.6m iDICE Fund for Nigerian Startups
Bank Of Industry (BOI) has appointed the Kuramo Capital Management as Fund Manager of the $170.6 million iDICE Fund. The iDICE Fund of Funds is a landmark investment vehicle aimed at expanding venture capital financing for technology and creative start-ups across…
