The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, has directed petroleum marketers to immediately reduce the pump prices of Premium Motor Spirit (PMS) and other petroleum products to reflect the recent decline in global oil prices. Speaking at the 2026 Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) General Counsel and Legal Advisers […]
Nigeria’s pension fund assets rose to a record N31.32 trillion in May 2026, highlighting the continued expansion of the country’s pension industry despite prevailing macroeconomic challenges. According to the National Pension Commission (PenCom) unaudited report for the month ended May 31, 2026, the industry’s total assets increased by 1.23% from N30.94 trillion recorded in
Nigeria’s pension fund assets hit record N31.32 trillion in May Read More »
The Nigerian Education Loan Fund (NELFUND) has condemned some tertiary institutions for delaying or refusing to refund students whose tuition fees had already been paid before the processing and disbursement of their NELFUND loans. The criticism was contained in a statement issued on Monday in Abuja by NELFUND’s Director of Strategic Communications, Oseyemi Oluwatuyi. According
NELFUND faults institutions over delayed tuition refunds, arbitrary fee increases Read More »
The Foreign Exchange (FX) market recorded a total turnover of $2.84 billion in the week ended June 26, 2026, as trading activity strengthened across both the spot and derivatives segments. According to the latest weekly FX market turnover report released by FMDQ Exchange, total turnover increased by $512.37 million, or 22.06%, compared with the
Nigeria’s FX market turnover rises 22% to $2.84 billion Read More »
At 2:17 a.m. on a rainy Thursday in Lekki, the Johnson family woke up to the sharp smell of smoke. A power surge from an electrical fault had sparked a fire in the sitting room. Within minutes, years of carefully built comfort began disappearing into thick black smoke: the television bought after a promotion, the
The Impact of Homeowner and Householder Insurance on Financial Stability Read More »
In December 2023, Tunde’s older brother, Shadrack, passed away unexpectedly in a freak car accident. During their grief, the family had to come to terms with reality almost immediately. There were hospital bills and funeral expenses to settle, and Shadrack’s wife and two children still had to be catered for. As the family rallied around
The Central Bank of Nigeria directive requiring banks, fintechs, payment service providers, and other regulated financial institutions to localise customer and transaction data within Nigeria by January 2027 is increasingly being viewed as a major growth driver for the country’s digital infrastructure sector. The policy is expected to accelerate investment in data centres, cloud
CBN Data Localisation Directive Set to Boost Nigeria’s Digital Infrastructure Industry Read More »
The Central Bank of Nigeria (CBN) has directed banks, payment service banks, fintechs, and other regulated financial institutions to immediately freeze all accounts, assets, and transactions associated with six individuals and four Bureau De Change (BDC) operators designated for terrorism financing. The directive was issued through a circular dated June 24, 2026 (Ref: CMD/FCS/PUB/CIR/002/011)
CBN Orders Immediate Freeze of Accounts Linked to Terrorism Financing Read More »
The Nigerian naira recorded its steepest single-day depreciation since April 2026 after weakening to N1,389 per US dollar at the official foreign exchange market on June 24, 2026. Data from the Central Bank of Nigeria showed the local currency lost N16 against the dollar, compared with the N1,373/$ closing rate recorded on June 23.
Naira Suffers Sharpest Daily Decline Since April, Closes at N1,389/$ Read More »
Access Holdings Plc has announced the retirement of its Executive Director, Business Support, Bolaji Agbede, effective June 30, 2026, following the expiration of her tenure. The development was disclosed in a notice filed with the Nigerian Exchange Limited (NGX), shareholders, and the investing public. The notice was signed by the Company’s Secretary, Sunday Ekwochi, and
Access Holdings Announces Retirement of Former Acting Group CEO Bolaji Agbede Read More »
