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CBN’s new forex guidelines clears import of up to $10,000 without declaration
Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange (forex) Guidelines which provides that an individual can export $50,000 cash. The only condition, according to the Guidelines, released, Friday, is that such cash must be declared at the point of…
AIICO tops industry rankings, voted 2026 best insurance firm at prestigious Capital Market Awards
AIICO has been voted Insurance Company of the Year 2026 at the Nairametrics Capital Market Awards, emerging as the top performer among its peers in a category designed to recognise excellence across Nigeria’s insurance landscape. The Nairametrics Capital Market…
Algeria kicks off work at own section of $13bn trans-Saharan gas pipeline project
Algeria has officially kicked off work at its own section of the 4,100 km long Trans-Saharan Gas Pipeline (TSGP) project. The TSGP is a separate, competing 4, 128km pipeline project running through Niger and Algeria with an estimated cost of…
Service providers accuse FCCPC of violating court order on enforcement of DEON regulation
Fresh from securing a High Court order restraining the Federal Competition and Consumer Protection Commission (FCCPC) from enforcing the controversial Digital Economy and Online Lending (DEON) Consumer Lending Regulations, the Wireless Application Service Providers Association of Nigeria (WASPAN) has accused the…
NUPRC urges banks to support oil, gas operators
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has called on financial institutions to support operators in expanding domestic gas production. NUPRC’s Chief Executive, Mrs. Oritsemeyiwa Eyesan, who said this whole receiving top executives of the Rand Merchant Bank (RMB), at the commission’s…
Nigeria’s external reserves jump by 2.5% to reach $49.58 in May
Central Bank of Nigeria (CBN) Economic Report for May has reported a rise in the External Reserves of the country to $49.58 billion May 29, from the $48.36 recorded in April, this year. According to the CBN, the figure represents an…
2026 oil, gas licensing round to kick off Q3, 2026 — NUPRC
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the 2026 oil and gas licensing round will kick off by the third quarter of 2026. According to the NUPRC, the announcement follows approval from the Minister of Petroleum Resources, Heineken Lokpobiri….
Amid persistent blackouts, DisCos rake in N598bn Q1, 2026
Nigerian Electricity DisCos Regulatory Commission (NERC) has disclosed that distribution companies (DisCos) in the country generated a combined total of N597. 55 billion in revenue during the first quarter of 2026. According to the NERC data, 11 electricity distribution companies generated…
NERC approves compensation for Band A electricity customers hit by blackouts
Nigerian Electricity Regulatory Commission (NERC) says it has approved a compensation package for eligible Band A customers affected by power supply shortfalls caused by grid generation constraints between February and March 2026. In a public notice issued on Thursday, June 4, NERC…
Pension assets hit N30trn in April — PenCom
Nigeria’s pension assets jumped by 4.8 per cent to hit a record N30.94 trillion in April 2026, according to the National Pension Commission (PenCom). The commission noted that the development further represents a growth of 4.8 percent compared with N29.52…
