The Debt Management Office (DMO) has opened the September 2026 Federal Government of Nigeria Savings Bond offer, with interest rates of 14.12 per cent and 15.12 per cent on the two-year and three-year instruments, respectively. According to a notice issued by the DMO, the two-year FGN Savings Bond, which is due on September 16, 2028,…
OPay, a leading fintech company in Nigeria, has dismissed reports that it plans to suspend or discontinue its operations in the country, assuring customers and merchants that its services remain fully operational. The company gave the assurance during a live town hall held in Lagos on Wednesday to address misinformation circulating on social media about…
Credit extended to Nigeria’s private sector declined by 15.3 percent month-on-month (MoM) to N33.9 trillion in July 2026, from N40.03 trillion recorded in June. The Central Bank of Nigeria disclosed this in its Money and Credit Statistics for the review period. The data also showed that credit to the government fell marginally by 0.18 percent…
By Seun Ibiyemi Nigeria’s diaspora remittance inflows through International Money Transfer Operators (IMTOs) surged to a record $947 million in July 2026, bringing the country closer to the Central Bank of Nigeria’s $1 billion monthly target. CBN Governor Olayemi Cardoso disclosed this on Sunday in Abuja, describing the July inflow as the highest monthly remittance…
The Central Bank of Nigeria (CBN) has lowered the stop rate on its 364-day Treasury bill to 17.15 per cent while raising N638.19 billion from the instrument amid strong investor demand. The 44-basis-point reduction from the previous auction rate of 17.59 per cent came despite overwhelming subscriptions, as investors submitted N3.63 trillion for the one-year…
By Seun Ibiyemi Nigeria’s external reserves have risen to $53.11 billion, reaching their highest level in more than 17 years and coming within $142 million of the country’s previous record recorded in 2009. Latest data from the Central Bank of Nigeria (CBN) showed that the reserves stood at $53.112 billion as of August 24, 2026….
Zenith Bank Plc has called for a shift from the export of raw commodities to value-added products as Nigeria seeks to increase earnings from the non-oil sector and strengthen its position in global and African markets. The bank made the call at the 10th edition of its International Trade Seminar on Non-Oil Export, held virtually…
The Nigeria Deposit Insurance Corporation (NDIC) has moved to strengthen its procurement capacity as part of efforts to improve efficiency, transparency and accountability in the discharge of its statutory responsibilities amid ongoing reforms in Nigeria’s banking sector. The Managing Director/Chief Executive Officer of the NDIC, Thompson Oludare Sunday, disclosed this in Lagos during a three-day…
Major Nigerian banks are facing delays in releasing their half-year 2026 financial results as the Central Bank of Nigeria (CBN) intensifies its review of lenders’ assets, earnings quality and regulatory compliance. Five systemically important banks — Guaranty Trust Holdings Company (GTCO) Plc, Access Holdings Plc, Zenith Bank International Plc, United Bank for Africa (UBA) Plc…
Guaranty Trust Holding Company Plc (GTCO) has secured approval from the Nigerian Exchange Limited (NGX) to extend the deadline for publishing its audited half-year financial statements for the period ended June 30, 2026. The new deadline has been set for September 30, 2026, subject to GTCO obtaining the required regulatory approval before releasing the results…
