Monetary

CBN Increases Foreign Tuition Limit to $25,000   The Central Bank of Nigeria (CBN) has increased the maximum foreign exchange remittance for tuition payments by Nigerian students studying abroad to $25,000 per semester, up from the previous cap of $15,000. The adjustment is contained in the CBN...

FG, World Bank Restructure $500m Education Programme   The Federal Government and the World Bank have restructured the $500m HOPE for Quality Basic Education for All programme, cutting funding allocations tied to the construction of new classrooms while expanding the number of states eligible for targeted...

FG Seeks AfDB Support for $7bn Aviation Plan   Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has met with the President and governors of the African Development Bank in Congo over the proposed $7bn Integrated Aviation Transformation Programme for Africa. The meeting was held as...

FEC Okays $2.99bn for Three Major Rail Projects in Lagos, Kano, Kaduna   The federal executive council (FEC) has approved contracts worth $2.99 billion for three major rail projects in Lagos, Kano, and Kaduna states. Speaking with State House correspondents after the weekly FEC meeting in Abuja...

NRS Raises Alarm Over Illicit Capital Outflows, Recovers N80bn    The Nigeria Revenue Service (NRS) has stated that it recovered over N80bn from illicit financial flows within a three- to five-year window. It urged private sector operators to strengthen due diligence and help curb capital flight. The...

DisCos Deploy 130,209 Meters Through N49bn Funding Scheme   Not less than 130,209 meters were installed by electricity distribution companies under the Meter Acquisition Fund framework, even as the Federal Government invested N49bn in the MAF between 2024 and 2025. Reports and documents from the Nigerian Electricity...