Foreign reserves have hit $53.1 billion as capital inflows from stronger crude oil earnings continue to accelerate accretion. Data from the Central Bank of Nigeria (CBN) website showed that the reserves closed at $53.1 billion on August 24, the highest level in nearly 18 years. The current reserves position is far higher than CBN’s projected…
By Admin The June 2026 inflation report points to a broad stabilisation of headline inflation but also reveals a renewed escalation of food prices. While macroeconomic stability is gradually being consolidated, structural inflationary pressures within the real economy remain pronounced, the Centre for the Promotion of Private Enterprises (CPPE) has said. Headline inflation eased marginally…
The Central Bank of Nigeria (CBN’s) directive to financial institutions to localise payment-related dat by January next year will trigger the global providers to bring their own scale of cloud into the country for building the nation’s digital infrastructure scale give investors more confidence to deploy the capital that brings in the scale to prepare…
Every transformative company begins with a simple idea. For Stabyl, that idea was born not in a boardroom, but during conversations between classmates at the University of Oxford, where discussions about the future of digital finance evolved into a bold vision for solving one of Africa’s biggest financial challenges. Between 2021 and 2022, Prince Nnamdi…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for increased vigilance in the operation and regulation of the Nigeria financial system to protect it against terrorism financing and illicit financial flows. In a statement, ABCON condemned any form of terrorism financing in the country, and reiterated its support for all legitimate…
VeendHQ says its AI-powered credit platform, Vida AI, helped recover ₦69 million from a ₦172.5 million portfolio of loans that were more than 90 days overdue in a pilot that highlights the growing role of technology in loan recovery and portfolio management. The result comes at a time when lenders are under increasing pressure to…
The Monetary Policy Committee (MPC) said rising political spending and foreign exchange (forex) demand pressures associated with the 2027 elections will test the resilience of Nigeria’s economy. Members of the Central Bank of Nigeria (CBN)-led MPC, in their personal notes at the last MPC meeting released on Thursday including Aloysius Ordu, Bandele Amoo, Lamido Yuguda,…
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, has retired as chair of the bank following the expiration of his tenure in line with regulatory requirements, as disclosed in a corporate notice issued in Lagos on May 5, 2026. Mr. Ovia completed the mandatory 12-year tenure stipulated under corporate governance guidelines for financial…
Nigeria has strengthened her digital infrastructure and cybersecurity framework with the unveiling of Domain Name System (DNS) Security Extensions (DNSSEC) on the .ng domain. The feat was achieved by the Nigeria Internet Registration Association (NiRA), the registry responsible for managing Nigeria’s country code top-level domain (.ng). The unveiling positions the country among forward-looking nations that…
