The Chartered Institute of Bankers of Nigeria (CIBN) has projected that the Central Bank of Nigeria (CBN) will retain the Monetary Policy Rate (MPR) at 26.5 per cent. The projection comes as the Monetary Policy Committee (MPC) begins its 306th meeting on Monday in Abuja. Dr Dele Alabi, President and
Vice President Kashim Shettima says Micro, Small and Medium Enterprises (MSMEs) account for 90 per cent of all businesses and over 60 million jobs in Nigeria. Shettima, represented by Deputy Chief of Staff to the President, Sen. Ibrahim Hadejia, stated this on Saturday in Abuja during the 8th National MSME
The Manufacturers Association of Nigeria (MAN) has expressed concern over the sharp decline in commercial bank credit to the manufacturing sector. It warns that the trend could undermine industrial growth, job creation and economic diversification. Director-General, MAN, Mr Segun Ajayi-Kadir, made this known in a statement on Tuesday in Lagos
Trading on the Nigerian stock market extended its negative trend on Tuesday, with investors losing N782 billion, marking the third consecutive trading session of losses. The decline was driven by broad-based profit-taking, with losses recorded across insurance, banking, consumer goods, industrial and technology stocks. The market capitalisation depreciated by 0.50
Nigerian banks made N224.69 billion from electronic banking services and ATM/card fees in the first quarter of 2026. This is a significant rise of about 12.56 percent compared to N199.61 billion during the same time in 2025. This increase shows how banks are working hard to promote more digital banking
The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has reiterated commitment to sustaining reform momentum. This was made known in a statement issued by the Head Information and Public Relations, in the ministry of Finance, Efe Ovuakporie, in Abuja on Friday. During the handing over
Mr Taiwo Oyedele, Minister of State for Finance, has dismissed reports alleging hidden spending and diversion of federation revenue, describing it as misinterpretations of the World Bank Nigeria Development Update. This was contained in a statement issued by the minister on Sunday in Abuja. He said reports suggesting large-scale diversion
Zacch Adedeji, the head of the Nigeria Revenue Service, announced on Tuesday that without significant economic changes made by the government, inflation in Nigeria could have reached an alarming level of up to 120 percent. He shared this insight during the opening of the new NRS headquarters in Abuja, emphasizing
The Governor of Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says sustaining macroeconomic stability requires credible monetary policy and strong coordination, alignment of all key stakeholders across the economic system. Cardoso said this in Abuja on Thursday at the apex bank’s Monetary Policy Forum themed, “Strengthening Nigeria’s Macroeconomic Stability
Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, says Nigeria’s net foreign exchange reserves stood at N34.80 billion dollars as at December 2025. In a statement issued on Monday in Lagos Cardoso was quoted to have disclosed this at the end of the last Monetary Policy Committee