MaTaZ ArIsInGDallas, Texas The Central Bank of Nigeria (CBN) has revoked the operating licenses of 46 Microfinance Banks (MfBs) with effect from July 1. This is contained in a statement issued by Mrs Hakama Sidi-Ali, the Acting Director, Corporate Communications Department of the apex bank, on Wednesday in Abuja. Sidi-Ali said the action was in […] Read more
MaTaZ ArIsInGDallas, Texas The European Investment Bank (EIB) has disclosed that it signed more than €500 million in financing for strategic investments across Nigeria over the past year, with additional funding already in the pipeline, signalling growing international confidence in the country’s ongoing economic reforms. The announcement was made on Tuesday at the 10th Nigeria-European […] Read more
By Samuel Ncube MaTaZ ArIsInGDallas, Texas NIGERIA · ECONOMY Key Facts —15-month high: Nigeria’s crude output reached about 1.53 million barrels a day in May 2026, a 15-month high. —Above quota: That is roughly 102 percent of its 1.5 million-barrel OPEC quota, the first time it cleared the cap this year. —With condensate: Adding condensate lifts total output to […] Read more
MaTaZ ArIsInGDallas, Texas Nigeria recorded a sharp improvement in its merchandise trade balance in the first quarter of 2026 as exports rose and imports declined significantly, pushing the country’s trade surplus to N7.55tn. According to the National Bureau of Statistics’ Foreign Trade in Goods Statistics report released on Monday, total trade stood at N34.79tn in […] Read more
MaTaZ ArIsInGDallas, Texas Nigeria recorded a sharp rise in capital importation in the first quarter of 2026, with total inflows hitting $10.37 billion, according to data released by the National Bureau of Statistics (NBS) The figure represents an 83.83 per cent increase compared to $5.64 billion recorded in the same period of 2025, and a […] Read more
MaTaZ ArIsInGDallas, Texas The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has cautioned against renewed pressure on the apex bank to return to intervention programmes previously deployed by the institution, warning that such measures distorted the bank’s financial position and weakened the effectiveness of monetary policy. Cardoso spoke on Thursday at the opening […] Read more
MaTaZ ArIsInGDallas, Texas The National Bureau of Statistics (NBS) has revealed that Nigeria Gross Domestic Product (GDP) grew by 3.89% (year on year) in real terms in the first quarter of 2026. According to a report released by the NBS, the Statistician-General of the National Bureau of Statistics, Prince Adeyemi Adeniran, said agriculture grew by […] Read more
MaTaZ ArIsInGDallas, Texas The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the Monetary Policy Rate (MPR) at 26.5% following its 305th meeting. The decision was reached at the latest MPC session, with 11 members in attendance. The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, […] Read more
MaTaZ ArIsInGDallas, Texas Dangote Peugeot Automobiles Nigeria begins production of new Peugeot 3008 and 5008 models at Kaduna PlantNew models will further extend the brand’s offering to local customers, joining the Peugeot Landtrek – a pickup truck.Offered in Allure and flagship GT trims, the new 3008 and 5008 range are powered by a 1.6‑litre THP […] Read more
MaTaZ ArIsInGDallas, Texas Nigeria’s economic reform programme received another boost as global rating agency S&P Global Ratings upgraded the country’s sovereign credit rating from “B-” to “B” with a stable outlook, a development the Federal Government described as evidence that investor confidence in the economy is gradually improving. Reacting to the announcement, Minister of Finance […] Read more
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