Staff Severance, Other Expenses Gulp N306bn - CBN The Central Bank of Nigeria has revealed that it spent N306.63bn to offset staff expenses and the emoluments of former employees it asked to take an early exit option from the bank in 2024. This amount represents an...

Manufacturers Lose N1.9bn to FX volatility In Q1 - Report Manufacturers in Nigeria have reported a loss of N1.91bn due to foreign exchange volatility in the first quarter of 2025, as revealed by their unaudited financial statements for the period ended 31 March 2025. Some of...

FG to Float N300bn in Green Bonds in 2025 Minister of Environment Balarabe Lawal, has disclosed that the federal government is set to issue a third and fourth tranche of green bonds totaling N300 billion ($200 million) in 2025, deepening its commitment to sustainable finance...

FG Signs $158m Financing Agreement to Boost Agriculture in Nine Northern States The federal government has signed a $158.15 million financing agreement to implement the value chain programme in northern Nigeria (VCN). The deal, signed at the presidential villa on Wednesday, aims to transform agriculture across...

Senate Passes Two Tax Reform Bills, Pegs VAT at 7.5% The Senate has passed two out of four major tax reform bills proposed by President Bola Tinubu. However, the upper chamber rejected a proposal to increase the value-added tax (VAT) to 10 percent, opting to retain...

Naira Falls Slightly to ₦1,610/$ in Parallel Market The naira depreciated slightly against the US dollar, losing ₦1.02 on a day-to-day basis to trade at ₦1,610 on Tuesday, compared to ₦1,606 on Monday. According to Aboki Forex data as of May 7, the naira was trading...