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CBN draft proposal for HoldCos seeks 20% capital buffer, restrictions on subsidiaries’ offshore operations, shared services
Central Bank of Nigeria (CBN) has moved to revise guidelines on operations and structure of financial holding companies (FHCs) in its just published exposure draft on guidelines for the licensing and regulation of operators in Nigeria, introducing a mandatory 20 per…
Nigerian agri-business firm signs $60m coffee development deal with Liberia
Nigerian agro-development company, JR Farm Group has signed a $60 million (about N81.6 billion) 20-year partnership deal on coffee production with the Liberian government. The agreement is expected to revitalise Liberia’s coffee sector, expand exports and benefit over 200,000 farmers,…
Over 1, 000 mini-grids under construction nationwide to expand access to electricity, says Tinubu
President Bola Tinubu has disclose that over 1,000 mini-grids are being developed across Nigeria as part of efforts to expand electricity access to underserved communities, universities, markets and hospitals. President Tinubu, in his Democracy Day broadcast, on Thursday, June 12, further…
Shell lists conditions for Nigeria to unlock economic potential in gas
Amid rising cost of the liquefied natural gas (LNG) and poor distribution network of the compressed natural gas (CNG), Shell Nigeria Gas (SNG) has listed conditions to be met in order for the country to unlock and fully realise potential of…
CBN proposes FG adoption of eNaira for payment of salaries, pensions, welfare benefits
Federal Government is considering a Central Bank of Nigeria (CBN) proposal to commence paying civil servants’ salaries, pensions, social welfare benefits, in addition contractors via the eNaira platform in order to boost the adoption of Nigeria’s digital currency. The eNaira…
NGX’s ASI climbs by 0.27%, as PMI rises to 54.1% in May
Nigerian Exchange (NGX) All-Share index edged up 0.27 per cent amid decreasing liquidity, just as the Purchasing Managers’ Index (PMI) jumped to 54.1 all in May 2026, according to the Exchange and StanbicIBTC reports. According to the NGX report covering up…
TETFund awards N7.5bn in grants to 174 research teams nationwide
Federal Government, through the Tertiary Education Trust Fund (TETFund), has awarded N7.5 billion in grants to 174 research teams across tertiary institutions in Nigeria to address national development needs. Making the disclosure, while announcing the outcome of the 2025 National Research…
Bonny Terminal leads production streams, as Nigeria surpasses OPEC crude oil quota in May
Nigeria’s crude oil output surpassed its Organisation of the Petroleum Exporting Countries (OPEC) quota in May 2026, as the Bonny Terminal led production streams, according to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The development saw the…
Nigeria records N35trn in foreign trade Q1, 2026, as export rises by 2.8%
National Bureau of Statistics (NBS) says the country recorded a total of N34.78 trillion worth of foreign trade in the first quarter (Q1) of 2026, while exports accounted for 60.85 per cent total trade with a value of N21.16 trillion….
Senate passes bill to promote alternative financing options for MSME operators, trade
Senate, Wednesday, passed the Factoring, Assignment and Receivables Financing Bill 2026, aimed at improving access to finance, modernise commercial transactions and enhance Nigeria’s competitiveness in regional and global trade. The bill is also designed to expand the framework of financing…
