The Central Bank of Nigeria (CBN) has announced the successful conclusion of its banking sector recapitalisation programme, with Nigerian banks raising a total of ₦4.65 trillion over a 24-month period to strengthen the financial system and support economic growth.

CBN Orders Banks to Complete Cybersecurity Self-Assessment Within Five Weeks The Central Bank of Nigeria (CBN) has moved to strengthen cybersecurity oversight across the financial system, mandating banks and other regulated institutions to within three to five weeks, conduct a comprehensive self-assessment of their cyber...

GenCos: Gas Price Hike Looms as NMDPRA Raises Domestic Supply Cost .Electricity Generation Companies (GenCos) are set to face higher operating costs following a hike in domestic gas prices by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), a move expected to impact thermal...

Illicit Flows Cost Nigeria, Others $88bn Annually – Edun Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stated that illicit financial flows are currently denying Nigeria and African economies an average of $88 billion annually. Edun made the disclosure in Abuja on...

FG, IsDB Partner to Drive $1tn Economic Target The Federal Government and the Islamic Development Bank Group have stepped up efforts to attract investments aimed at driving the country’s ambitious plan to achieve a $1tn economy by 2030. The high-level engagement, held on Monday in Lagos,...

NNPC Raises Dangote Refinery Crude Supply to Seven Cargoes – Report The Nigerian National Petroleum Company Limited has increased crude oil supply to the Dangote Petroleum Refinery and Petrochemicals, allocating seven cargoes for May loading in a move aimed at boosting domestic fuel production. Two trader...