Nigeria’s financial exclusion rate has fallen to 21% in 2026, marking a significant improvement in access to formal financial services. However, the latest EFInA report shows that the progress has not reached Nigerians equally. The biggest gap is now concentrated among the country’s poorest households, raising a bigger question about whether having access to financial…
The CBN terrorism financing supervision 2026 push is putting Nigerian banks and other financial institutions under closer scrutiny as the Central Bank of Nigeria moves to strengthen controls against the use of the financial system to fund terrorism. In a September 8 statement, the CBN said terrorism financing supervision had become a current supervisory priority….
The killing of National Open University of Nigeria (NOUN) Bursar Nasiru Gusau Marafa in Zamfara has again raised questions about the security of people travelling through parts of the state, including senior public officials. NOUN confirmed on Sunday, September 6, that Marafa was reportedly shot while returning from Gusau, the Zamfara State capital. However, the…
EFCC dismisses over 40 staff for corruption and financial malpractice, marking a significant shift in the agency’s anti-corruption drive. EFCC Chairman Ola Olukoyede disclosed on Monday that more than 40 personnel had been removed from the commission during his roughly three years in charge, with more than five of them currently facing prosecution. The announcement…
Nigeria’s high-interest-rate environment is creating an unusual winner among the country’s biggest businesses. Nigerian listed companies generated ₦179.5 billion in finance income in H1 2026, a 174% increase from ₦65.6 billion recorded a year earlier. The surge shows that for companies sitting on large amounts of cash, the CBN interest rates are becoming an important…
The EFCC N1.23 trillion recovery announced by the Economic and Financial Crimes Commission is drawing attention not only because of the size of the figure, but because of what happens to the money and assets after they are recovered. EFCC Chairman Ola Olukoyede said the commission recovered N1.233 trillion, $684.48 million, £373,905.78 and €9.34 million…
The UK economy is showing signs of slowing, but calling the latest figures an outright economic slump would be misleading. Britain’s GDP grew by 0.4% in the second quarter of 2026, down from 0.6% in the first quarter. That is a slowdown, but it still means the economy expanded and the UK actually recorded the…
Edo State’s domestic debt has surged by ₦59.37 billion since the end of 2024, rising from ₦113 billion to ₦172.37 billion by March 2026, according to the latest Debt Management Office data. The increase has moved Edo from 12th to sixth among Nigeria’s most indebted states. But the most revealing part of the numbers isn’t…
The Central Bank of Nigeria (CBN) has removed restrictions that previously prevented banks using its Standing Lending Facility, or discount window, from simultaneously participating in the Nigerian Foreign Exchange Market and primary auctions of government securities. The move took immediate effect following a review of conditions in the FX, money and fixed-income markets. On paper,…
President Bola Tinubu has signed a new Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order aimed at unlocking up to $50 billion in investment in Nigeria’s deepwater oil sector, beginning with the approximately $10 billion Bonga South West project. But the bigger question is not whether the incentives will attract investors. It is…
