By Ajibola Olaide, JKNewsMedia Reporter RISING LOAN approvals, ongoing negotiations and phased disbursements across multiple sectors are set to push World Bank lending to Nigeria to $9.65 billion between 2023 and 2025 by the end of this year. The projected figure covers loans from the International Bank for Reconstruction and Development (IBR...
By Ajibola Olaide, JKNewsMedia Reporter THE FINAL approval of licences for 82 Bureaux De Change took effect as the Central Bank of Nigeria (CBN) confirmed that the authorisation followed the powers provided under the Bank and Other Financial Institutions Act 2020. The confirmation formed part of a wider regulatory exercise that outlines how B...
By Jemimah Wellington, JKNewsMedia Correspondent EXTERNAL RESERVES surged past the $45 billion mark, reaching levels not seen since July 2019, the Central Bank of Nigeria (CBN) has reported. Latest figures by the apex bank shows the reserves now stand at $45.04 billion, up from $42.03 billion on September 19, 2025, representing an accumulatio...
By Ajibola Olaide, JKNewsMedia Reporter ECONOMIC GROWTH reached 3.98 percent year-on-year in real terms in the third quarter of 2025, the National Bureau of Statistics (NBS) reported on Monday, edging up from 3.86 percent in the same period last year. According to the NBS, the nation’s aggregate gross domestic product (GDP) at basic prices st...
By Jemimah Wellington, JKNewsMedia Correspondent THE SUM of US$2.35 billion has been successfully raised by Nigeria through dual-tranche Eurobonds maturing in 2036 and 2046 in the international capital markets. The issuance comprises US$1.25 billion for the 2036 (Long 10-year) Notes and US$1.10 billion for the 2046 (Long 20-year) Notes, price...
By Jemimah Wellington, JKNewsMedia Corres NIGERIA’s BUSINESS community faced a complex mix of progress and pressure in October, as fresh data from the Nigerian Economic Summit Group (NESG) and Stanbic IBTC Bank revealed both improved confidence and persistent hardship across key sectors. The latest Business Confidence Monitor (BCM) showed that...
By JKNewsMedia INVESTOR CONFIDENCE faltered sharply this week as the Nigerian stock market suffered heavy losses, with investors wiping out N858 billion in just two trading sessions on the Nigerian Exchange Limited (NGX). The downturn reflected a storm of geopolitical tension, domestic policy uncertainty, and weakening sentiment, following re...
By Jemimah Wellington, THE NAIRA gained marginal strength against the United States (US) dollar as official figures from the Central Bank of Nigeria (CBN) confirmed an appreciation in value across the foreign exchange market. According to the official trading data released by the CBN on its forex trading portal, the naira closed at N1,421.73 ...
By Joke Kujenya PAINFUL BUT necessary adjustments in Nigeria’s tax system are beginning to yield measurable results as the Presidential Fiscal Policy and Tax Reforms Committee (PFPTRC) Chairman, Taiwo Oyedele, said the government advances a sweeping national tax overhaul designed to simplify levies, cut corporate rates, and promote fairness. ...
By Jemimah Wellington, JKNewsMedia Correspondent CENTRAL BANK Governor Olayemi Cardoso will head Nigeria’s delegation to the 2025 World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to open on Monday, October 13, in Washington DC. The delegation, which includes the Minister of State for Finance, Doris Uzoka-Anite, will ...
