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Business & Economy

CBN orders banks to bind mobile banking apps to single device from July 2026

The Central Bank of Nigeria (CBN) has introduced a raft of new security measures for instant payments, including a rule that restricts mobile banking...

CBN cracks down on chronic loan defaulters as debt overhang weighs on Nigerian banks

Amid growing concerns that mounting bad loans are constraining the performance and lending capacity of Nigerian banks, the Central Bank of Nigeria (CBN) has...

Nigeria posts ₦5.17tn trade surplus in Q1 2025 as exports outpace imports

Nigeria recorded a trade surplus of ₦5.17 trillion in the first quarter of 2025, driven by stronger export earnings and a moderation in import...

Reprieve for Nigerians as Dangote Petroleum Refinery cuts petrol price

Nigerians may see some relief in fuel costs after the Dangote Petroleum Refinery on Tuesday announced a fresh reduction in the gantry price of...

Driving growth through sustainability: FirstBank’s commitment

Sustainability has become a critical priority for businesses and governments across the world, driving growth, innovation, and positive change. As the world grapples with...

Breaking: Tinubu taps ‘taxman’ Oyedele as minister of state for finance

Bola Tinubu has nominated Taiwo Oyedele as Minister of State for Finance, replacing Doris Uzoka-Anite in a move that signals continuity in the administration’s...

CBN lowers interest rate to 26.5%, easing pressure amid falling inflation

The Central Bank of Nigeria (CBN) has reduced its monetary policy rate (MPR) from 27% to 26.5%, marking the lowest level since May 2024....

Nigeria’s forex reserves hit $50.45 billion, highest in 13 years

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Tuesday announced that Nigeria’s gross external reserves have climbed to $50.45 billion, marking...

Breaking: Tinubu issues Executive Order to tackle PIA revenue leakages, dismantle duplicative deductions

President Bola Tinubu has signed a sweeping Executive Order aimed at safeguarding and enhancing oil and gas revenues accruing to the Federation, curbing fiscal...

Nigeria Revenue Service to expand e-invoicing system to more businesses

The Nigeria Revenue Service (NRS) has announced that it will continue rolling out its electronic invoicing and fiscal system (EFS), also called the Merchant...

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