By JKNewsMedia Reporter TRADING OPENED in 2026 with a modest lift for the naira at the official foreign exchange market, where the currency exchanged at N1,430.84 to the dollar on Friday, reflecting a gain of N4.31 kobo or 0.34 percent from the N1,435.75/$ level recorded on December 31, 2025. Data from the Nigerian foreign exchange […]...
By JKNewsMedia THE SUPREME Court has ruled in favour of Fidelity Bank in its long-running legal dispute with Sagecom Concepts Limited as a five-member panel led by Justice Lawal Garba delivered the judgment on Friday, granting key aspects of the bank’s appeal. The ruling brings definitive closure to a legacy case that has attracted attention ...
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 EFFORTS TO transform Nigeria’s tax system advanced with the formal establishment of the National Tax Policy Implementation Committee (NTPIC), mandated to ensure the execution of recent tax reforms and align fiscal administration with the government’s economic objectives. President Bola Tinubu a...
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 JKNewsMedia TRACTION BUILDS across Africa’s agrarian sector as Agriculture Summit Africa (ASA) 2025 prepares to convene under the bold theme “Survival of the Greenest: Reclaiming Africa’s Food Destiny.” The event, set for 6–7 November 2025 at the Transcorp Hilton, Abuja, will bring together the continent’s leading voices in agriculture, fi...
By JKNewsMedia RECOGNITION FOR excellence in consumer credit delivery came to the Nigerian Consumer Credit Corporation (CREDICORP) as it was named Consumer Credit Access Company of the Year at the 13th BusinessDay Banks and Other Financial Institutions (BAFI) Awards held in Lagos on Saturday. The annual event, organised by BusinessDay, Nigeri...
By Jemimah Wellington, JKNewsMedia Reporter BORROWINGS BY Nigerian banks from the Central Bank of Nigeria’s (CBN) Standing Lending Facility (SLF) plunged 97.6 percent month-on-month in April 2025, dropping to N380 billion from a staggering N16.5 trillion in March. The steep fall signals a significant improvement in banking system liquidity, a...
By Jemimah Wellington, JKNewsMedia Reporter A MAJOR step towards positioning Lagos as a global financial hub has been taken with the signing of a Memorandum of Understanding (MoU) to establish an International Financial Centre (IFC). The agreement, formalised on Monday, is a collaboration between the Lagos State Government, EnterpriseNGR, The...
By Jemimah Wellington, JKNewsMedia Reporter ECONOMIC RECOVERY in Nigeria demands an urgent acceleration of growth, with the government aiming to double the current rate to 7% within two years to alleviate poverty. Nigeria’s Finance Minister Wale Edun stressed this during the World Economic Forum (WEF) in Davos, Switzerland, on Thursday....
