- Perspectives
Kwakwanso, Obi and Makinde: all motion, no movement!, by Kola Amzat
Snails belong to animal colonies called gastropods which are soft-bodied and invertebrates. They are on the same spot all the time. Not for lack of motion, nor for lack of desire to move. Indeed, there is plenty of motion around them, even more than other animals in their group, but they simply don’t move. They are rooted on the same…
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CBN directs IMTOs to open naira settlement accounts
The Central Bank of Nigeria (CBN) has directed all international money transfer operators (IMTOs) to open naira settlement accounts and route all remittance transactions through them. This means recipients of diaspora remittances will be paid in the local currency from May, ending decades of dollar payments to Nigerians when relatives abroad send money home. The CBN said the latest policy…
Read More » - Economy
World Economic Forum postpones Saudi Arabia conference over uncertainties in Middle East
The World Economic Forum (WEF) has postponed its upcoming conference in Saudi Arabia due to escalating regional tensions linked to the Iran war. The organisation announced the decision in a statement on Tuesday, noting that the Global Collaboration and Growth Meeting, initially scheduled to hold in Jeddah in April, will be rescheduled. The move reflects a growing trend of high-profile…
Read More » - Economy
Nigeria can increase crude production by 100,000 bpd in coming months, says Ojulari
Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC Ltd), Bashir Bayo Ojulari. Has disclosed that Nigeria could increase its crude oil production by about 100,000 barrels per day (bpd) over the next few months. The disclosure was made during an interview with Reuters on the sidelines of the CERAWeek by S&P Global conference in Houston. The planned…
Read More » - Economy
Nigeria’s earning from crude oil export drops by 14.4% to $31.54bn in 2025, says CBN
The Central Bank of Nigeria (CBN) has revealed that Nigeria generated $31.54 billion from crude oil exports in 2025, about 14.4 per cent drop from $36.85 billion recorded in 2024. The decline reflects weaker oil receipts even as broader external trade indicators showed mixed performance. The data was obtained from the Balance of Payments (BOP) report for 2025, which highlights…
Read More » - Economy
CBN targets 9% inflation rate in medium-term objectives
The Central Bank of Nigeria (CBN) says it is working to bring inflation down to a single-digit range of between six per cent to nine per cent as part of its medium-term objectives in efforts to transition to an inflation-targeting monetary The deputy governor in charge of economic policy, Muhammad Sani Abdullah in a statement said “The transition to…
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Foreign reserves slip to $49.83bn
Amid increase in global crude oil prices, the nation’s foreign reserves have dropped to $49.83billion as of March 17, 2026 from $50.01 billion a week ago. This is according to data by the Central Bank of Nigeria (CBN) The global oil is heading for a fifth straight weekly gain, with Brent near $109, as the Strait of Hormuz remains shut…
Read More » - Business
Tinubu felicitates Elumelu on birthday, hails Africapitalism drive
President Bola Tinubu has congratulated economist, banker and philanthropist, Tony Elumelu, on his 62nd birthday, describing him as an African business icon and a leading advocate of enterprise on the continent. The Chairman of Heirs Holdings, United Bank for Africa and Transcorp, will turn 62 on March 22, 2026. In a statement issued on Saturday, the president commended him, for…
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SEC, NYSC sign MoU on community development service group
The Securities and Exchange Commission (SEC) and the National Youth Service Corps (NYSC) have signed a Memorandum of Understanding (MoU) on a Community Development Service Group in the NYSC scheme to educate corps members on the risks of fraudulent investment schemes and nurture in them good habits for legitimate investment deals globally. Specifically, the MoU, which was recently signed by…
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Access Bank, King’s Trust International partner to advance youth opportunity across Africa
Access Bank Plc and King’s Trust International (KTI) have formally signed a strategic partnership agreement to expand opportunity, entrepreneurship and sustainable livelihoods for young people across Africa. The partnership agreement was signed by Roosevelt Ogbonna, Managing Director/Chief Executive Officer, Access Bank Plc, for Access Bank, and Will Straw, CBE, Chief Executive Officer of King’s Trust International, on behalf of KTI.…
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