Nigerian Loan Apps 300% Interest: Oye Urges CBN Action
Digital lending apps in Nigeria face scrutiny as annual interest rates exceed 300%, trapping borrowers in debt. Dele Oye urges CBN to cap rates and strengthen consumer protections.
Category : Economy
CBN Seeks N700 Billion in July Treasury Bills Auction
The Central Bank of Nigeria plans to raise N700 billion in its third and final treasury bills auction for July 2026, with maturities across 91-day, 182-day, and 364-day tenors.
Naira Gains Against Dollar Despite Global USD Strength
The naira rose N18.09 week-on-week to N1,362.09/$ in the official market, defying a stronger dollar globally, driven by surging FX turnover and record external reserves of $52.52B.
Obi Unveils Economic Plan to Shift Nigeria from Consumption to Production
Peter Obi outlines a comprehensive plan to transform Nigeria's economy from consumption-driven to production-focused, aiming to boost local manufacturing and reduce imports.
US Tariff on Nigeria Unlikely to Hurt Economy, CPPE Says
The CPPE says the US 12.5% tariff on Nigerian imports will have limited economic impact because oil exports are exempt and the US is not Nigeria's top export market.
CPPE: 12.5% US tariff unlikely to hurt Nigeria
The Centre for the Promotion of Private Enterprise (CPPE) explains that the new 12.5% US tariff on Nigerian goods will have minimal impact, citing low export share and diversified trade partners.
Crude Oil at $100: Nigerians Face Higher Petrol, Food Costs
Global crude oil prices have surged above $100 per barrel, prompting experts to warn Nigerians of impending increases in petrol, transport, and food prices as the deregulated market passes on higher costs.
New Petrol and Diesel Prices Across Nigeria After Dangote Hike
Fuel depots across Nigeria adjust petrol and diesel prices after Dangote Refinery raises gantry rates by 13% for petrol and 10% for diesel, with mixed regional impacts.
FG Launches Portal for 26,961 Nigerians in 70 Skills
The Federal Government launches Phase III of the Renewed Hope Employment Initiative, targeting 26,961 unemployed Nigerians across 70 high-demand skills nationwide, with training starting August 2026.
CBN: Currency in Circulation Falls to N5.52 Trillion in June 2026
Currency in circulation in Nigeria dropped to N5.52 trillion in June 2026, down from N5.67 trillion in May, according to the Central Bank of Nigeria's latest data.
16 States Adopt Harmonised Tax Framework to Curb Multiple Taxation
The Joint Revenue Board has announced that 16 Nigerian states have adopted a harmonised tax framework to eliminate multiple taxation and improve revenue collection efficiency.
Nigerian equities slump 0.50% on Nestle, BUA Foods losses
Nigerian equities fell 0.50% on Monday, with the All-Share Index dropping to 98,500 points, driven by losses in Nestle Nigeria and BUA Foods.
Naira Holds Steady, Gains Against Euro at N1,557/€
The Nigerian naira held steady against the dollar and gained against the euro, trading at N1,557/€ in the official market, amid increased forex liquidity.
Canada Lists Citizenship Rules for Foreign Spouses
Marrying a Canadian does not grant automatic citizenship. Foreign spouses must meet all standard adult eligibility conditions, including 1,095 days of physical presence in Canada.
Comercio Partners Report: 10 Years of Money Market & Costs
Comercio Partners' report reveals a decade of money market trends and living cost dynamics, highlighting key economic shifts and their impact on households.
Nigeria Has Passed Darkest Tunnel, Running Stable Economy – Tinubu
President Tinubu declares Nigeria's economy stable after passing the 'darkest tunnel,' citing growing multinational investment, education loan fund progress, and improved security.
Nigerian equities market rebounds with N1.58 trillion gain
The Nigerian equities market rebounded strongly, posting a N1.58 trillion gain as investors returned to blue-chip stocks, reversing previous losses.
BUA Cement H1 2026 Pre-Tax Profit Surges 79% to N384.44bn
BUA Cement's H1 2026 pre-tax profit surged 79% to N384.44 billion, driven by a 72% revenue jump to N1.16 trillion, despite a 63% rise in finance costs.
South Africa Holds Interest Rate at 7% as Inflation Rises
South Africa's central bank kept its benchmark interest rate unchanged at 7% despite rising inflation and a weakening rand, prioritizing price stability.
Nigerians Pay 130% More for Okada Fares Under Tinubu
Okada fares surged 130% from N464.55 in May 2023 to N1,072.51 in May 2026, driven by petrol subsidy removal and naira depreciation, according to NBS data.
Naira Surges as FX Transactions Hit $1.5 Billion in One Day
Nigeria's FX market recorded a massive $1.5 billion single-day turnover, strengthening the naira. CBN Governor Cardoso credits reforms for boosting net reserves to $40 billion.
19 Non-African Countries Nigerians Can Visit Visa-Free in 2026
Nigerian passport holders can visit 19 countries outside Africa visa-free or on arrival in 2026, including Caribbean, Asian, and Oceanian destinations, per Henley Passport Index.
MTN Nigeria Asks Customers to Trade Old SIM Packs for Prizes
MTN Nigeria launched a nostalgia campaign asking customers to bring old SIM packs, recharge cards, dongles, and phones to 8 locations for prizes, sparking mixed reactions on coverage and rewards.
Transcorp Group Posts N75.9 Billion Pre-Tax Profit in H1 2026
Transcorp Group reported a pre-tax profit of N75.9 billion for H1 2026, a 45% increase from N52.3 billion in H1 2025, driven by strong performance across its power, hospitality, and energy businesses.
CREDITCORP Scheme Solves 3 Key Problems for Nigerians
The Federal Government's CREDITCORP C.L.I.C.K.D programme provides affordable loans for laptops, solving high upfront costs, lack of instalments, and boosting local hardware manufacturing.
CBN Credit to Private Sector Rises to N83.26 Trillion in June 2026
The Central Bank of Nigeria's credit to the private sector rose to N83.26 trillion in June 2026, a 0.4% increase from May's N82.94 trillion, driven by economic recovery and policy support.
Naira Rebounds Against US Dollar as FX Liquidity Improves
The naira appreciated against the US dollar in official and parallel markets on July 22, 2026, following improved FX liquidity. Total turnover rose 29% to $416.42 million, supported by foreign portfolio inflows and exporter participation.
First Holdco Projects N1.2 Trillion Profit in 2026
First Holdco Plc forecasts a 2026 profit of N1.2 trillion, up 15% from 2025, driven by banking, telecom, and energy expansion.
Nigeria's external reserves hit $52bn, highest in 17 years
Nigeria's external reserves reached $52.02 billion, surpassing the CBN's 2026 target and marking the highest level since January 2009.
UK Work Visa: 2 Things Foreigners Must Not Do, Fee Revealed
The UK government has published restrictions for work visa holders, including a ban on claiming public funds and rules on changing jobs, with application fees ranging from £819 to £1,865.
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