By Adeyemi David The Nigerian naira recorded a positive performance in the foreign exchange market, appreciating against the United States dollar at the official window as improved liquidity supported the local currency. Data from the Central Bank of Nigeria showed the naira closed at about N1,337 per dollar, strengthening from N1,344 recorded earlier, marking its…
Expanding fair access to foreign exchange and trade finance could unlock Nigeria’s export potential and strengthen regional commerce, a Central Bank of Nigeria (CBN) official has said. Assistant Director of Imports and Trade Relations at the CBN’s Trade and Exchange Department, Mr Tiku Allu made the remarks at the 2026 Ecobank Nigeria customer forum on Tuesday…
The Federal Government has announced that salaries of unverified workers in the Federal Civil Service will be suspended starting March 2026, following the conclusion of the ongoing Personnel Audit and Skills Gap Analysis (PASGA) exercise. A memo obtained by our correspondent on Tuesday from the Office of the Head of the Civil Service of the…
Zenith Bank Plc has urged members of the public to disregard videos circulating online falsely linking its Group Chairman, Dr Jim Ovia, to an investment scheme called Wealth Bridge. The bank issued the advisory via its official X handle on Tuesday in Abuja, warning that the videos claim the Central Bank of Nigeria (CBN) has…
By Adeyemi David The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to protecting bank customers and strengthening public trust in financial system following a stakeholder townhall meeting in Enugu. The corporation in a tweet on it X handle announced an increase in deposit insurance coverage to ₦5 million for commercial bank customers and ₦2…
Polaris Bank has unveiled a new Gift Card feature on its digital lifestyle platform, VULTe, offering users a faster, smarter way to send love, appreciation, and rewards across borders. The feature allows customers to deliver global brand gift cards to family and friends anywhere in the world in seconds. Designed for speed, security, and everyday…
Nigeria’s banking sector emerged as the top destination for foreign capital in the third quarter of 2025, attracting $3.14 billion and accounting for 52.25 percent of total capital imported into the country. This is according to the Capital Importation Report for Q3 2025 released by the National Bureau of Statistics (NBS), which showed a significant…
By Adeyemi David Ahead of 2026 deadline, Sterling Financial Holdings Company Plc has announced that its core banking subsidiaries, Sterling Bank and The Alternative Bank, have been fully recapitalised in compliance with revised minimum capital requirements set by the Central Bank of Nigeria (CBN). The confirmation follows final regulatory approvals received in January 2026, with…
….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 The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over its alleged failure to account for ₦3 trillion in public funds, including more than ₦629 billion paid to “unknown beneficiaries” under the Anchor Borrowers’ Programme. In a statement on Sunday, SERAP Deputy Director…
