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.
In Nigeria’s bustling informal economy, payments rarely come with clarity, receipts, or even definitions. Across markets and transport hubs, traders and workers navigate a complex web of compulsory levies that are collected routinely but scarcely explained.
President Bola Tinubu has asked the National Assembly to approve an adjustment to the 2026 Appropriation Bill, proposing a ₦9 trillion increase to raise the total budget from ₦58.4 trillion to ₦67.4 trillion.
Nigeria has a $14bn annual infrastructure investment gap, according to Finance Minister Wale Edun, who said the government is seeking both domestic and foreign capital to bridge the shortfall.
