FG, Huawei Back $1 Trillion Digital Economy Goal
By Zainab Bakare The Federal Government has reaffirmed its commitment to building a digitally enabled economy, with Huawei Technologies Nigeria pledging continued support for the country’s ambition of becoming a $1 trillion economy through technology-driven growth. The commitment was reaffirmed during a courtesy visit by Huawei’s management team to the Minister of State for Foreign […]
NAICOM Begins Issuing New Licences to 43 Insurers
By Oluwakemi Kindness The National Insurance Commission, NAICOM, has begun issuing new licence certificates to insurance companies that met its revised minimum capital requirements. The new certificates were presented to compliant insurers at the Commission’s headquarters in Abuja on Tuesday, marking a major milestone in Nigeria’s insurance industry recapitalisation programme. The Commissioner for Insurance, Olusegun Ayo-Omosehin, […]
CBN: Naira-Official FX Rate Gap Falls Below 2%
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change rates has narrowed to below two per cent. The apex bank said the development reflects improving stability in the foreign exchange market. The Acting Director of Corporate Communications and Investor Relations Department of the […]
Nigeria’s Reserves Hit 17-Year High at $52.5bn – CBN
By Oluwakemi Kindness Nigeria’s foreign exchange reserves have climbed above $52.5 billion, reaching a 17-year high, the Central Bank of Nigeria (CBN) has said. The apex bank said the reserves, as of July 17, 2026, had also exceeded its annual target. The CBN attributed the increase to sustained foreign exchange inflows and renewed investor confidence […]
Oil Prices Rise as Markets Gain on US-Iran Developments
By Mardiyyah Abubakar Oil prices rose on Tuesday after a sharp decline, while most global stock markets recorded gains as investors monitored developments in US-Iran relations and renewed optimism on Wall Street. Crude prices briefly gained about one per cent after falling five per cent on Monday. Traders reacted to hopes that the United States […]
DataPro Boosts Risk Management Skills in Financial Sector
By Oluwakemi Kindness DataPro has moved to strengthen risk management capacity across Nigeria’s financial sector by equipping professionals with advanced skills in enterprise risk management, regulatory compliance and strategic decision-making. The training programme, which began in Lagos on Monday and runs from August 3 to 7, 2026, is designed to help financial institutions build stronger […]
NLC: Illicit Financial Flows, Kleptocracy Threaten Social Protection in Nigeria
By Chinedu Echianu The Nigeria Labour Congress (NLC) has raised concerns that illicit financial flows and kleptocracy are weakening Nigeria’s ability to finance and implement effective social protection programmes across the country. The warning was issued at the opening of the second phase of a five-day Transform Leadership and Capacity Building Training on social protection […]
Customs Clarifies Vehicles Eligible for Duty, VAT Waivers
By Oluwakemi Kindness The Nigeria Customs Service has clarified the categories of clean-energy vehicles and equipment eligible for Import Duty and Value Added Tax exemptions under the Federal Government’s Presidential Gas for Growth Initiative. Under the new guidelines, on friday 100 per cent CNG vehicles, 100 per cent LPG vehicles and pure electric vehicles will […]
Millennium Tower Needs ₦400bn, Wike Seeks Federal Intervention
By Sofiat Adenekan-Abdul The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that more than ₦400 billion is now required to complete the long-abandoned Abuja Millennium Tower, prompting moves to secure direct Federal Government funding for the iconic project. Speaking after inspecting ongoing infrastructure projects across Abuja on Thursday, Wike said the […]
Oil Stakeholders Oppose Proposed 3% South-South Levy
By Oluwakemi Kindness Oil industry regulators and operators have opposed a proposal requiring oil and gas producing companies in the South-South to contribute three per cent of their total annual budgets to the South-South Development Commission (SSDC). Thet warn that the levy could increase production costs, discourage investment and duplicate existing statutory obligations. The stakeholders […]