What You Must Know As CBN Tightens BVN Rules From May 1
As the Central Bank of Nigeria (CBN) is set to roll out a new set of Bank Verification Number (BVN) guidelines from May 1, 2026, there are key rules every account holder must have knowledge of before the deadline. The framework introduces tighter controls on phone number changes, device usage, and transaction limits. The move […]
33 Banks raise N4.65trn as CBN closes recapitalisation
The Central Bank of Nigeria, CBN, has announced the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This is disclosed in a statement issued on Wednesday in Abuja, jointly signed by Dr Olubukola Akinwunmi, Director, Banking Supervision and Mrs Hakama Sidi-Ali, Acting Director, Corporate Communications Department of the CBN. New CBN […]
Nigerians to Brace for Higher Cost of Living as FG Increases Domestic Gas Price
Nigerians may face fresh economic pressure following a new increase in domestic gas prices, a development expected to impact electricity tariffs, manufacturing costs, and the overall cost of living. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on Tuesday announced an increase in the Domestic Base Price of natural gas to $2.18 per […]
FG Moves to Unlock $500m World Bank Loan
The Federal Government of Nigeria has intensified efforts to ensure all 36 states participate in the $500 million World Bank–assisted loan facility under the HOPE Governance Programme. This was revealed on Thursday in a statement by the programme’s spokesperson, Joe Mutah. The initiative aims to strengthen governance systems, particularly in basic education and primary healthcare, […]
New CBN Directive Set to Change How Nigerians Receive Money from Abroad Starting May 1
The Central Bank of Nigeria has directed that, from may 1st, 2026, all diaspora remittances must be paid in naira, banning foreign currency payouts and mandating international money transfer operators to route transactions through designated naira settlement accounts in authorised dealer banks. The apex bank said the directive, contained in a circular signed by the […]
BREAKING: Makinde Approves ₦10,000 Monthly Transport Support for Oyo Workers
Oyo State Governor, Engr. Seyi Makinde, has approved a ₦10,000 monthly transportation support allowance for civil servants across the state, as part of measures to cushion the effects of rising economic hardship. The governor made the announcement on Monday during the supervision of the YEAP-SAFER support disbursement and stakeholder engagement programme held at the Fashola […]
At last, FG Speaks On Increase In Price Of Petrol
At last, FG Speaks On Increase In Price Of Petrol The Federal Government has said it will not intervene to regulate petrol prices despite the volatility in global oil markets caused by escalating geopolitical tensions in the Middle East. The Minister of Finance, Wale Edun, disclosed this in an interview on Channels Television on Wednesday, […]
Hardship on Students: NAPS Senate President Urges FG to Strengthen Local Refining Capacity
PRESS STATEMENT From the Office of the President of the Senate, National Association of Polytechnic Students (NAPS) The Office of the President of the Senate of the National Association of Polytechnic Students (NAPS) wishes to draw the urgent attention of the Federal Government of Nigeria and all relevant stakeholders to the worsening hardship […]
Dangote: Tinubu presidency keeps mum as fuel price hits N1,400 per liter
Nigerians are in serious trouble as the premium motor spirit price rose to N1,400 per liter and Automotive Gas Oil (diesel) to N1,750 after Dangote Refinery hiked its gantry fuel price to N1,175 per liter for petrol and N1,620 per liter on Monday. DAILY POST reports that while the fuel price keeps rising, President Bola […]
SEREC warns U.S.-Iran conflict could push inflation in Nigeria up by 5%
The Sea and Empowerment Research Centre (SEREC) says inflation could rise by three to five per cent in Nigeria amid ongoing conflict between the United States and Iran. SEREC`s head of research, Eugene Nweke made this known in a statement on Monday in Abuja. Mr Nweke said the situation presents significant geopolitical and economic risks […]