Naira Gains as Official, BDC Rate Gap Narrows Below 2%
The naira strengthens as the gap between official and BDC exchange rates narrows below 2%, with external reserves above $52 billion, says CBN.
Category : Business
Tinubu Announces NNPC Reform, Plans Share Sale to Nigerians
President Tinubu confirms NNPC will be reformed and listed on Nigeria's capital market, with plans to sell shares to Nigerians, aligning with NNPC's 2028 listing roadmap.
Top 10 Nigerian Firms with Largest Cash Reserves H1 2026
In H1 2026, Nigerian companies held record cash reserves. Dangote Cement leads with N1.2 trillion, followed by MTN Nigeria and Airtel Africa, reflecting strong liquidity amid economic challenges.
Nigeria's Public Debt Hits N159.35 Trillion
Nigeria's total public debt rose to N159.35 trillion by March 2026, up from N151.31 trillion in December 2025, despite naira appreciation, according to the DMO.
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Nigeria's External Debt Service Falls to $954m in Q1 2026
Nigeria's external debt service payments fell to $954 million in Q1 2026, down 12% from the previous quarter, according to the Central Bank of Nigeria.
Nigeria's Q1 2026 Debt Service N3.14tn, Up 20.3%
Nigeria spent N3.14 trillion servicing domestic debt in Q1 2026, a 20.3% year-on-year increase, according to the Debt Management Office.
Nigeria's Debt Rises to N159.35 Trillion in Q1 2026
Nigeria's total public debt rose to N159.35 trillion in Q1 2026, up from N142.32 trillion in Q4 2025, according to the DMO. The increase is driven by new borrowings and naira depreciation.
Amokachi Becomes 22Bet Pan-African Brand Ambassador
Former Super Eagles striker Daniel Amokachi has been unveiled as 22Bet's Pan-African brand ambassador, promoting football culture and grassroots support across Africa.
CBN Survey: Banks Increase Loans, Default Rates Drop in Q2 2026
Nigerian banks expanded credit in Q2 2026 across all categories while loan defaults fell, according to the CBN's Credit Conditions Survey.
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Nigeria, Canada expand air deal for direct flights
Nigeria and Canada have expanded their bilateral air services agreement, allowing up to 14 weekly passenger and 10 cargo flights, boosting connectivity and trade.
ACAMB 30th Anniversary Golf Networking at Ikoyi Club
ACAMB hosted a golf and networking event at Ikoyi Club 1938 to mark its 30th anniversary, reaffirming commitment to banking industry growth and partnerships.
Neveah Secures ISO 9001, 14001, 45001 Certifications
Neveah Limited obtains ISO 9001, 14001, and 45001 certifications, enhancing quality, environment, and safety standards.
Man City reject Barcelona's £38.5m bid for Rodri
Manchester City have rejected Barcelona's opening £38.5m bid for Rodri, but are open to selling the midfielder for more than £60m as he enters the final year of his contract.
Canada Adds 75,000 Jobs in July, Jobless Rate at 6.4%
Canada's labour market added 75,000 jobs in July 2026, lowering unemployment to 6.4%, the lowest in two years, boosting opportunities for 'japa' seekers.
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SEC Launches Probate Clinic to Curb Unclaimed Investments
Nigeria's SEC launches a probate clinic to help beneficiaries access unclaimed investments, aiming to reduce dormant assets and strengthen investor protection.
Consumer Goods Giants Spend N75 of Every N100 Earned
Nigerian consumer goods giants now spend N75 of every N100 earned on costs, squeezing profits as inflation and FX pressures mount, according to Nairametrics.
Nigerian Firms See Naira Appreciating by January 2027
Nigerian businesses expect the naira to appreciate against the dollar by January 2027, per CBN's July 2026 survey, with confidence at 5.7 points.
N150k-N250k Earners Feel Inflation Most - CBN
Nigerians earning N150,000-N250,000 monthly feel inflation most, says CBN. The report reveals price pressures and spending shifts.
Brazil Launches Free Job Portal for Foreigners to Work
Brazil's Emprega Brasil portal offers foreigners free job matching, interviews, and relocation support. Learn how to apply and boost your chances.
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Otedola Invests N18.1bn in First Holdco, Stake Now 26.1%
Billionaire Femi Otedola acquires additional 1.1 billion shares in First Holdco for N18.1 billion, raising his stake to 26.1% and solidifying his position as the largest shareholder.
Canada visa wait times rise for Nigerians as study permit hits 7 weeks
Canada's IRCC updated visa processing times on Aug 5, 2026, showing study permits for Nigerians now take 7 weeks, visitor visas 68 days, work permits 7 weeks, and super visas 43 days.
Chelsea Must Offload 16 Players in 25 Days Under New FIFA Rule
Chelsea must sell or loan 16 senior players within 25 days to comply with FIFA's ban on bomb squads, trimming Xabi Alonso's squad to 25.
Nigeria, Canada sign aviation deal for direct flights
Nigeria and Canada signed a BASA allowing direct scheduled flights, cutting travel time and costs. Air Canada plans Lagos flights in 2027.
Serenia Beach House: Shaping Lagos Coastal Hospitality
Serenia Beach House in Ilashe is redefining Lagos coastal hospitality with six bedrooms and experience-led travel, offering a serene escape from city life.
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Nigerians defer major purchases as living costs squeeze
Nigerians are postponing big-ticket purchases like cars and homes due to high living costs and borrowing rates, according to the latest CBN Household Expectations Survey.
Naira Falls to N1,364.88/$ Despite FX Turnover Surge
The naira depreciated 0.17% to N1,364.88/$ at NAFEM on August 6, 2026, despite a 31% jump in FX turnover to $98.804 million.
Delta, Bayelsa, Akwa Ibom Take 75% of N321.9bn Oil Derivation
Delta, Bayelsa, and Akwa Ibom received 75% of Nigeria's N321.90bn oil derivation funds in Q1 2026, with Delta leading at N101.60bn.
Moldova launches job portal for foreigners seeking relocation
Moldova unveils an official website for foreigners to find jobs and relocate, joining Germany, UK, Japan, Australia in global hiring trend.
Six Depots Cut Petrol Prices to Rival Dangote Refinery
Six private depots slash petrol prices, closing gap with Dangote's N1,165/litre, sparking competition and potential relief for motorists.
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Otedola Invests N18.1bn in First HoldCo, Stake Rises to 26.1%
Femi Otedola invests fresh N18.1 billion in First HoldCo, raising his stake to 26.1% from 22.4%, according to a corporate filing.
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