CBN Clamps Down on FX Rules Violators after Forensic Audit The Central Bank of Nigeria has concluded a forensic audit into undelivered foreign exchange forward contracts and is now reviewing appropriate legal action against violators of FX rules and regulations. The CBN announced that it will...

SIM-NIN Cleanup: Telecom Subscriptions Decline to 172m in June - Report  Nigeria’s telecommunications industry recorded a slight decline in active mobile subscriptions in June 2025, as regulatory enforcement and internal operator reviews continue to shape the market. According to the latest industry statistics published by the...

NDIC Disburses N54.62bn to Defunct Heritage Bank Depositors The Nigeria Deposit Insurance Corporation (NDIC) says it has disbursed a total of N54.62 billion to 691,418 depositors of the defunct Heritage Bank, marking a significant milestone in its resolution process less than a year after the...

Food Inflation Drives 3.5m Children into Malnutrition As food prices continue to soar and international aid dwindles, child malnutrition is tightening its grip on Nigeria, according to available data. About 3.5 million children in Nigeria are currently suffering from severe acute malnutrition, according to the latest...

Civil Servants Built Estates with Stolen Funds — EFCC Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that many abandoned estates in the Federal Capital Territory (FCT) were built by civil servants using stolen public funds. Olukoyede spoke in Abuja on...

Investors Gain as NGX Trading Jumps by N640bn  The Nigerian Exchange Limited investors gained N643bn on Wednesday, as bullish sentiment returned to the market following a positive performance across major sectors. The market capitalisation of listed equities rose from N91.61tn on Tuesday to N92.25tn at the...