The Accountant-General of the Federation (AGF), Dr. Shamseldeen Ogunjimi, announced that 30% of the 2025 Capital Budget implemented by the end of November. Warrants have already issued to Ministries, Departments, and Agencies (MDAs) to begin execution. Dr. Ogunjimi shared this update during a stakeholders’ meeting. On the extended 2025 Capital Budget implementation, held at the…
Nigeria’s foreign exchange reserves have climbed to $48.5 billion, marking their highest level since May 2013. This growth signals a steady rebuilding of the country’s external financial buffers. Recent data from the Central Bank of Nigeria (CBN) shows that the current reserve level is the strongest since May 14, 2013, when reserves stood at $48.51…
The Federal Mortgage Bank of Nigeria (FMBN) is working to boost its capital base to N750 billion to expand housing finance across the country. Shehu Osidi, Managing Director and CEO of FMBN, shared this update during a press briefing on Wednesday, marking his two-year anniversary in office. Osidi highlighted that the bank’s current paid-up capital…
The Chairman of Dangote Group, Aliko Dangote, has forecasted a significant improvement in the value of the naira this year. He predicts the currency could strengthen to ₦1,000 per dollar. Dangote shared this outlook during the launch of the Nigeria Industrial Policy in Abuja. An event attended by Vice President Kashim Shettima and other senior…
CFG Africa, a leading multi-asset investment firm, officially launched its N1 billion Ethical Fund in 2025. Shortly after, the firm hosted a strategic Non-Interest Investment Forum in Abuja. Signaling a growing shift in the market toward non-interest financial instruments. This move comes as investors seek alternatives to hedge against the fiscal adjustments. Projected for 2026…
The Debt Management Office (DMO) has announced the public offering of three Federal Government bonds worth N800 billion. Each bond is price at N1,000 per unit. However, in a statement on Tuesday, February 17, the DMO outlined the details of the bonds: The auction is schedule for February 23, with settlement set for February 25,…
Oando Plc has submitted an application to the Nigerian Exchange for approval to list a rights issue of 4,415,867,342 ordinary shares. The company aims to raise N220.79 billion in fresh capital through this offering. The details of the proposal were outlined in a regulatory filing signed by Mrs. Folasade Ibidapo-Obe, Oando’s Secretary and Chief Compliance…
MTN Group revealed its plan to acquire the remaining shares in IHS Holding Limited for $2.2 billion. The company offered $8.50 per share, a 3% premium over IHS’s closing price on February 4, 2026. MTN already held a 24.7% stake in IHS. This move followed IHS’s board acceptance of the offer on February 17, 2026….
The Nigeria Revenue Service (NRS) has begun rolling out its electronic invoicing and fiscal monitoring system in phases. This reform aims to improve tax administration, enhance transparency, and encourage businesses across the country to comply voluntarily. This initiative is part of a larger effort to modernize Nigeria’s tax system and enable real-time monitoring of transactions….
The Nigerian Exchange (NGX) hit a record high during the first trading session of the week. Surpassing N120 trillion and closing at N122 trillion. Investors gained an impressive N5 trillion in returns within a single day. Marking the strongest daily performance since May 23, 2023. This surge was driven by price rallies in Dangote Cement,…
