‎‎CBN Reports $3.73bn Current Account Surplus for Nigeria in Q1 2025 ‎ ‎ ‎The Central Bank of Nigeria (CBN) has reported a current account surplus of $3.73 billion for the first quarter of 2025, citing growth in non-oil and gas exports as key drivers. The figure reflects...

Nigeria, Others Top Africa's $95bn Remittance Inflows   Nigeria, Egypt, and Morocco have been listed as the highest recipients of the $95bn remittance into the African continent in 2024. This was revealed in the State of Africa’s Infrastructure Report 2025 published by the Africa Finance Corporation. The report...

Nigeria's Annual Loss to Medical Tourism Hits $1.1bn - Afreximbank   The African Export-Import Bank has revealed that Nigeria loses an estimated $1.1bn annually to medical tourism, a trend it described as a significant drain on the country’s foreign exchange and a major impediment to the...

Senate Slams NNPCL for Rejecting N210trn Audit Investigation   The Nigerian National Petroleum Company Limited (NNPCL) on Thursday failed to appear before the Senate Committee on Public Accounts probing alleged financial discrepancies amounting to over N210tn in its audited reports from 2017 to 2023. Despite being summoned,...

Telcos Recover N107bn from Banks for USSD Debt   The long-term dispute between telecommunications operators and commercial banks over unpaid Unstructured Supplementary Service Data fees appears to be drawing to a close, as telecom companies confirm the recovery of 95 per cent of the N180 billion...

Nigeria Spends $1bn to Upgrade Telecom Infrastructure   Nigeria’s telecommunications sector is set to experience a dramatic improvement in service quality by the third quarter of 2025, driven by a monumental $1 billion investment in network equipment, the Minister of Communications and Digital Economy, Dr...