Banks Struggle As Bad Loans Hit ₦21.2 Trillion: FX Shocks, Soaring Interest Rates, And End Of COVID Forbearance Fuel Defaults
Nigeria’s banking sector is grappling with a surge in bad loans as rising interest rates, foreign exchange volatility, and the withdrawal of COVID-era loan...
Naira Holds Strong As February Opens: Stable Start Signals Confidence In Nigeria’s FX Market
The Nigerian Naira began the first trading week of February 2026 on a stable note, holding firm within the ₦1,390 range in the official...
FG Targets Industrial Revival: New Policy Aims To Boost Manufacturing Share To 25% By 2030 After 30 Years Of Decline
After more than three decades of steady decline in Nigeria’s industrial output, the Federal Government has unveiled an ambitious plan to revive the manufacturing...
Pound Inches Up As Naira Holds Ground In Early February Trading
The British Pound Sterling began the first Monday of February 2026 with a slight rise against the Naira in Nigeria’s foreign exchange market, marking...
Federal Government’s Domestic Borrowing Surges In 2025, Crowding Out Private Sector Credit
The Federal Government’s domestic borrowing from banks and financial market operators rose sharply in 2025 despite high interest rates, widening the gap between public...
Standard Bank, Stanbic IBTC Complete $250m Financing Deal For Aradel Energy
A consortium led by Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and Standard Bank of South Africa has reached financial close on a...
Dangote Petrol Prices Now Higher Than Imported Fuel, MRS Retail Hikes To N839/Litre
The landing cost of imported Premium Motor Spirit (PMS) has now fallen below the Dangote Petroleum Refinery’s gantry price, following the refinery’s recent price...
CBN Elevates Opay, Moniepoint, Kuda, Others To National Status, Boosting Financial Inclusion Nationwide
The Central Bank of Nigeria (CBN) has upgraded the licenses of leading FinTech firms and Microfinance Banks (MFBs), including Opay and Moniepoint, granting them...
Borrowing Pain Deepens: Bank Lending Rates Soar To 46%, Squeezing Nigerian Businesses
Businesses across Nigeria’s major sectors are reeling under mounting financial pressure as bank lending rates surge to record highs, with some reaching an astonishing...
FG Unveils New Tax Incentives To Boost Manufacturing, Ease Multiple Levies On Nigerian Industries
The Federal Government, through the Presidential Committee on Fiscal Policy and Tax Reforms, has outlined a series of new tax incentives designed to strengthen...
