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Tinubu signs NIMC Act 2026 into law, as NIN becomes Nigeria’s foundational identity credential
President Bola Tinubu has signed the National Identity Management Commission (NIMC) Act, 2026, into law, as the new legislation repeals and replaces the old NIMC Act of 2007. According to the Presidency, Friday, the new law ushers in a comprehensive…
Despite IMF, Fitch concerns, FG draws $1.5bn first tranche of $5bn Abu Dhabi bank loan
Despite concerns raised by the International Monetary Fund (IMF) and Fitch Ratings, the Federal Government has proceeded to draw the first tranche of a $5 billion loan agreement with the First Abu Dhabi Bank (FAB) worth $1.5 billion. The Nigerian senate…
Nigeria evacuates second batch of 66 returnees, as foreign African nationals scramble to exit S/Africa ahead June 30 deadline
Second batch of Nigerian evacuees from South Africa has returned following recent anti-African immigrant tensions and xenophobic attacks in parts of the southern Africa country. This is also as thousands of mostly southern African nationals appeared stranded as they sought for…
Trump threatens 100% tariff on ‘any country that imposes digital services tax’ on U.S firms
United States President, Donald Trump, Friday, threatened to impose a 100 per cent tariff on all goods from any country that imposes a digital services tax on American companies. The U S President’s warning followed a day after European Union (EU)…
IPMAN decries bearing brunt of petroleum products market volatility
Members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) have decried bearing the brunt of market volatility in the downstream petroleum sector, even as they berated the frequent products’ pump price fluctuations in the country. IPMAN leadership disclosed this…
Nigeria’s headline inflation hits 15.93% in May, as CPI rises by 140.7% in one month
National Bureau of Statistics (NBS) has disclosed that Nigeria’s headline inflation rate increased to 15.93 per cent year-on-year in May 2026, up from 15.69 per cent the previous month. The NBS Consumer Price Index (CPI) also rose from 138.3 per cent…
CBN orders banks to freeze assets of six persons, four BDCs over terrorism financing
Sequel to the action taken by the United States government in exposing three persons, including a Nigerian foreign exchange dealer linked to a terrorism group, the Central Bank of Nigeria (CBN) has followed with a directive to commercial banks to freeze…
Only 20% of POS operators registered, as EFCC, CAC move to review MoU on tackling financial crimes
Economic and Financial Crimes Commission (EFCC) and the Corporate Affairs Commission (CAC) have pledged to collaborate in a bid to safeguard Nigeria’s financial system. This is also at it emerged that only 20 per cent of the country’s Point of Sale…
Nigeria’s crude oil import rises by 308.9% to hit $1.39bn in Q1 2026, as petrol, gas importation drop to 87.5%
Data obtained from the Balance of Payments Highlights of the Central Bank of Nigeria (CBN) has indicated a rise in Nigeria’s crude oil imports from the $340 million recorded in the fourth quarter (Q4) of 2025 to $1.39 billion in…
Providus, Unity Bank merger deal enters final phase
Proposed merger of Providus Bank and Unity Bank has officially entered its integration phase. According to the new establishment, now known as ProvidusUnity Bank Limited, the merger deal is now in its final integration stage following the successful completion of all…
