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Banks’ lending to MDAs hit N39.60trn in 1yr, as credit to private sector drops by 15% — CBN
Central Bank of Nigeria (CBN) data for April has disclosed that while Nigerian banks raised credit to the public sector of the economy, the same facility to the private sector dropped, in one year period under review. According to the…
Informal economy reflects governance failure — Brookings
As governments across sub-Saharan Africa intensify efforts to broaden their tax bases by targeting micro, small and medium-sized enterprises (MSMEs) that account for nearly 90 per cent of jobs in the region, a new report by the Brookings Institution argues…
Fiscal inefficiencies cost Africa $1.43tn in devpt financing __AfDB
Low efficiency levels in resource mobilization, application and utilization cost African countries significant 1.43 trillion in development financing; a situation that further compounds inhibitions to rapid economic growth. according to the 2026 African Economic Outlook released by the African Development…
CBN launches PSV 2028 to deepen financial inclusion, strengthen digital econony
Central Bank of Nigeria (CBN) has formally unveiled the Payments System Vision 2028 (PSV 2028) to strengthen the country’s digital economy and trade. Speaking in Abuja, Monday, at the unveiling, the CBN Governor, Olayemi Cardoso, said PSV 2028 aims to deepen…
NIBSS seeks court order compelling 19 banks to freeze 176 accounts linked to N14bn unauthorised transfers
Following a payment systems malfunction suffered in 2024 resulting into a N14 billion loss, the Nigeria Inter-Bank Settlement System (NIBSS) Plc has approached a Federal High Court in Lagos, seeking an order compelling affected banks to freeze accounts allegedly linked to…
FDI drops by 80%, as portfolio investment drives increased capital inflow — CBN
Central Bank of Nigeria (CBN) Economic Report, in its latest release, has revealed that foreign direct investment (FDI) inflows into the country dropped by 80 per cent in January, this year. The regulatory bank attributed the drop to foreign investors increasingly…
CBN extends POS geo-fencing deadline to August 1
Central Bank of Nigeria (CBN) has extended the enforcement of Point-of-Sale (POS) terminal geo-fencing to August 1, 2026. According to the regulator,the decision is intended to give financial institutions and payment service providers more time to comply with the regulatory requirement…
Currency outside banks drops to N5.08trn in April, as CBN tightens grip on liquidity
Currency outside banks (COB) in Nigeria declined to N5.08 trillion in April 2026, according to data released by the Central Bank of Nigeria (CBN). CBN said the country’s COB fell to N5.083 trillion in April from N5.19 trillion recorded in…
FirstHoldCo shareholders approve capital raise to N253.099, as group targets N1tn
Shareholders of First HoldCo Plc have approved plans by the Board to shore up the capital base of the group to N253.099 billion as it aims to hit a paid-up capital of N1 trillion, comprising share capital and share premium….
Fidelity Bank grows gross earnings by 38%, as PBT hits N92.5bn in Q1, 2026
Fidelity Bank Plc has reported a 37.8 per cent growth in gross earnings representing N434.95 billion in the first quarter 2026 (Q1, 2026), in addition to a rise to N92.48 billion in profit before tax (PBT). The bank’s Interim Financial…
