The UK government considered introducing a law to remove Andrew Mountbatten-Windsor from the royal line of succession. This decision followed his recent arrest and ongoing police investigation into misconduct allegations. Government’s Position Luke Pollard, the Defence Minister, told the BBC that the move represented the right thing to do. He explained that it would prevent…
Nigeria’s total public debt stock rose to $103.94 billion, equivalent to N153.29 trillion, as of September 30, 2025, according to the latest data from the Debt Management Office (DMO). However, The DMO explained that the Central Bank of Nigeria’s official exchange rate of $1 to N1,474.85, as of the same date, was used to convert…
The Central Bank of Nigeria (CBN) absorbed over N3.57 trillion. Within three days as deposit money banks placed surplus funds in the Standing Deposit Facility (SDF). The SDF allows banks to store excess cash overnight at an interest rate of approximately 22.8%, according to FMDQ. An analysis of CBN’s financial data from Tuesday, February 17…
ARM Investment Managers Ltd has declared cash distributions for the second half of 2025 for the MoFI Real Estate Investment Fund (MREIF). Investors in Series I receive N3.75 per unit, while Series II investors set to earn N9.7192 per unit. The announcement made through a corporate actions notice filed with the Nigerian Exchange (NGX) on…
Olayemi Cardoso, Governor of the Central Bank of Nigeria, warned that digital payment systems posed risks to monetary sovereignty during a speech in Abuja. He delivered the address at the 2026 technical group meeting of the Intergovernmental Group of Twenty-Four on Wednesday. Cardoso highlighted how rapid expansion of cross-border payments and stablecoins could expose emerging…
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…
