Economy

  Wema Bank Managing Director, Moruf Oseni, has reaffirmed the lender’s ambition to break into Nigeria’s tier-one banking league in the “not-too-distant future.” Speaking at the bank’s Annual General Meeting (AGM) held in Lagos, Oseni said the management team and staff are deliberately positioning Wema Bank among Nigeria’s top-tier financial institutions, supported by a strong […]

  The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5% following the conclusion of its 305th meeting held in Abuja. The decision was announced by Olayemi Cardoso after the MPC meeting, which was attended by 11 committee members. The committee also voted to retain

Every day, up to 12 million cars ply Nigerian roads. Many of the drivers of these vehicles do not have third-party motor insurance, while a significant portion of the ones that do are spotting fake third-party motor insurance policy documents. This action is rationalized by the aim to sail through police checkpoints seemingly compliant with

The Bank of Industry has secured a $200 million sovereign-guaranteed thematic financing facility from the African Development Bank Group to expand access to long-term financing for businesses operating in strategic sectors of Nigeria’s economy and accelerate the country’s industrial transformation agenda. The financing package, approved by the Board of Directors of the African Development Bank

The Federal Government has intensified efforts to position Nigeria as the leading maritime trade and logistics hub in West and Central Africa through major port expansion projects, infrastructure upgrades, and sweeping maritime reforms aimed at strengthening regional competitiveness and supply chain resilience. The Minister of Marine and Blue Economy, Adegboyega Oyetola, disclosed this on Monday

The Federal Government has reaffirmed its commitment to building a transparent, accountable, and citizen-focused tax administration system as part of President Bola Tinubu’s Renewed Hope Agenda aimed at strengthening economic growth, improving revenue generation, and enhancing public trust in governance. The commitment was reiterated by the Minister of Information and National Orientation, Mohammed Idris, during

The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Mr Wole Ogunsanya, has called on the Nigerian National Petroleum Company Limited (NNPC) and other oil producers in the country to urgently develop markets for Nigerian crude outside the Organisation of Petroleum Exporting Countries (OPEC) quota system. Ogunsanya argued that this would enable the country

Pressure is building on the Central Bank of Nigeria (CBN) to resume monetary easing as businesses and households struggle with high borrowing costs, stubborn inflation, and weakening consumer demand ahead of the Monetary Policy Committee (MPC) meeting scheduled for Wednesday. Although inflation remains elevated, a growing number of Nigerians now favor lower interest rates, arguing