….As food inflation hits single digit first time in 10 yrs … Naira hits N1,390 on black market as gap closes 2.5% …. Nigeria records strongest foreign inflows in five years on reforms By Adeyemi David Nigeria’s headline inflation rate moderated slightly to 15.10 per cent in January 2026, down from 15.15 per cent recorded…
By Adeyemi David Employee corruption and occupational fraud are silently draining Nigeria’s Micro, Small and Medium Enterprises (MSMEs) of an estimated ₦5 to ₦10 trillion each year, threatening business sustainability, job creation, and the country’s economic growth, experts have warned. The Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr. Muda Yusuf…
By Adeyemi David The Nigeria Deposit Insurance Corporation has stepped up efforts to deepen public understanding of deposit insurance while reaffirming that depositor funds remain protected under its regulatory framework. Managing Director of the corporation, Thompson Sunday, disclosed this at a stakeholders’ town hall meeting held on Saturday in Lagos. The meeting, themed “Strengthening Depositor…
Lanre Kasim of Guaranty Trust Bank has called on bank customers to deepen fraud awareness and improve financial literacy to better protect their finances. Kasim made the appeal while speaking on customer responsibilities at a stakeholders’ meeting organised by the Nigeria Deposit Insurance Corporation on Saturday in Lagos. She described financial literacy as the knowledge…
The Nigeria Deposit Insurance Corporation (NDIC) has reassured Nigerians about the health of the nation’s banking sector, stating that banks are robust while confirming that over 80 per cent of depositors of the liquidated Heritage Bank have already received their insured funds. Speaking in Minna during the National World Savings Day commemoration, Mr. Zeyad Abubaka…
Ecobank Nigeria has introduced the Ecobank Business App, a digital banking platform aimed at supporting the growth and sustainability of Small and Medium Enterprises (SMEs) across the country. The new application enables business owners to manage payments, track transactions, monitor cash flow, and conduct daily financial operations directly from their mobile devices, helping to eliminate…
By Adeyemi David The Nigerian naira closed the trading week ended February 7 on a slightly weaker note at the official foreign exchange market, reflecting mild volatility amid persistent dollar demand. Data from the Central Bank of Nigeria showed the currency settled at ₦1,366.19 per dollar on Friday, representing a 0.01 per cent decline from…
Adeyemi David Nigeria’s naira closed the trading week ended January 31, 2026, with notable gains against the United States dollar, marking its strongest performance in around two years amid improved foreign exchange market conditions and rising external reserves. Data from the Nigerian Foreign Exchange Market (NFEM) showed the naira appreciated to ₦1,386.55 per dollar at…
Kuda Microfinance Bank has said that it would blend its digital-first operations with physical touchpoints across the country under its newly issued national licence.This was disclosed in a statement issued by the company on Friday. The Central Bank of Nigeria recently upgraded Kuda Microfinance Bank’s licence to a national one, which means that it can…
