By Seun Ibiyemi The ECOWAS Bank for Investment and Development (EBID) has approved a total of $266.7 million and XOF 30 billion to finance a range of strategic development projects across West Africa, reinforcing its commitment to sustainable and inclusive growth in the region. The approvals were granted during the bank’s 95th Board of Directors…
By Seun Ibiyemi Nigeria’s broad money supply (M3) recorded a marginal decline to N123.15 trillion in February 2026, down from N123.36 trillion in January, according to the latest data released by the Central Bank of Nigeria (CBN). Despite the slight month-on-month drop, the figure remains significantly higher than the N110.71 trillion recorded in February 2025,…
By Seun Ibiyemi The Central Bank of Nigeria (CBN) has inaugurated a Payments Service Providers’ Committee aimed at strengthening coordination among stakeholders, addressing industry challenges and sustaining the rapid growth of digital payments in the country. Speaking at the committee’s inaugural meeting in Lagos, CBN Deputy Governor (Economic Policy), Abdullahi Sani, said the initiative brings…
By Seun Ibiyemi The Nigerian stock market closed on a bearish note on Thursday, shedding N3 billion in market value as investors engaged in mild profit-taking across key equities. Market performance was dragged down by sell-offs in stocks such as John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, and Tantalizers, among others. At the…
By Seun Ibiyemi The Minister of Marine and Blue Economy, Adegboyega Oyetola, has issued a strong warning to heads of agencies under his ministry, stressing the need for strict accountability and measurable performance outcomes. Oyetola gave the directive on Thursday in Lagos during the signing of performance bonds with heads of maritime agencies at the…
The Independent National Electoral Commission (INEC) has announced plans to remove the National Working Committee (NWC) of the African Democratic Congress (ADC) led by David Mark from its official portal, citing ongoing legal disputes over the party’s leadership. INEC also declared that it would suspend all dealings with any faction of the party pending the…
By Seun Ibiyemi The Nigeria Customs Service (NCS), Oyo/Osun Area Command, has intensified efforts to curb smuggling and promote lawful trade through strengthened collaboration with traditional institutions in Oyo State. The Acting Customs Area Controller of the Command, DC Wale Moses Adewole, led a delegation on a familiarisation visit to the palaces of the Onigbeti…
By Seun Ibiyemi The National Agency for Food and Drug Administration and Control (NAFDAC) has reiterated its dedication to ensuring the safety, quality, and efficacy of medicinal and aromatic plant-based products across Nigeria. The assurance was delivered by Director-General Mojisola Adeyeye, represented by Mrs. Chizoba Maduagwuna, Deputy Director of the International Strategic Partnership and Trade…
By Seun Ibiyemi The Nigerian stock market maintained its positive momentum on Wednesday, transacting 815.48 million shares valued at N33.3 billion across 52,641 deals, even as overall trading volume dipped compared to Tuesday. Leading activity on the trading floor were Wema Bank with 77.75 million shares worth N2.03 billion, Guaranty Trust Holding Company with 73.7…
By Seun Ibiyemi The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially declared the nation’s oil, condensate, and gas reserves as of January 1, 2026. The NUPRC Chief Executive, Mrs. Oritsemeyiwa Eyesan, revealed on Wednesday that crude oil and condensate reserves now stand at 31.09 billion barrels and 5.92 billion barrels, respectively, bringing total oil…
