Author: Ogochukwu Ndubuisi

The total deposits by deposit money banks (DMBs) at the Central Bank of Nigeria’s (CBN) Standing Deposit Facility (SDF) rose to N2.52 trillion on Monday, reinforcing strong liquidity in the market.

FG Generated $500m in Export Revenue in 2025 – Minister The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, says the ministry generated over $500 million dollars in export revenue in 2025 from industrial development and diversification of the economy. Oduwole made the disclosure, when she appeared before the Senate Committee on Trade and Investment on Monday to defend the ministry’s 2026 budget. According to her, the ministry’s programmes had also created more than 20,000 direct jobs. Oluwole said activity on Nigeria Commodity Exchange expanded sharply with traded volumes up by over 500 per cent. According to her, the…

CAC Approves Free Business Registration for 3,500 SMEs The Corporate Affairs Commission (CAC) has approved free business name registration for 3,500 small businesses across the 36 states and the Federal Capital Territory. The Registrar-General, Mr Hussaini Magaji, disclosed this on Monday in Abuja during the Commission’s 35th anniversary celebration. Magaji said the initiative underscored the Commission’s commitment to entrepreneurship, reduced business costs and inclusive economic growth. According to him, the programme aims to encourage formalisation of small enterprises and broaden access to government services and economic opportunities. “Distinguished guests, the CAC journey at 35 is a story of vision, courage,…

NACCIMA Commends Tinubu on Samiya Border Reopening The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has commended President Bola Tinubu for ordering the immediate reopening of the Samiya International Border in Kebbi. The border links Nigeria with the Republic of Benin and had remained closed, limiting formal trade and economic activities along the corridor. NACCIMA President, Mr Jani Ibrahim, disclosed this on Monday in Lagos through a statement made available to journalists. The News Agency of Nigeria reports that the directive was announced during a visit by the Comptroller-General of Customs, Bashir Adeniyi, to the Nigeria…

FAAC Disburses N22.4trn to FG, States, Local Govts. in 2025 Federal Account Allocation Committee (FAAC)disbursed N22.44 trillion among the three tiers of governments in 2025, a significant year-on-year push up from the previous record. Allocations to the Federal Government, State Governments, and Local Governments rose strongly year on year, with increases of 55.73%, 42.21%, and 43.09% respectively, according to data from the Office of the Accountant General of the Federation. The year-on-year surge, boosted by petrol, subsidy removal and increased federally generated revenue collection marked a substantial expansion in public sector liquidity and fiscal capacity. In its review, investment firm…

Nigeria Sweep Uzbekistan in Lagos Davis Cup Tie Nigeria’s doubles pair, Canice Abua and Michael Emmanuel, defeated Uzbekistan’s Denis Istomin and Khumoyun Sultanov 7–6, 6–4 at the ITF Davis Cup tie in Lagos. The closely fought encounter saw the Nigerians edge a tie-break first set before asserting control in the second to win in straight sets. The victory boosted Nigeria’s Davis Cup campaign and drew loud cheers from home supporters at the Lagos venue. In singles action, Daniel Adeleye beat Uzbekistan’s Khumoyun Sultanov 6–3, 6–4 in a reverse singles match. Adeleye delivered a confident display, breaking serve at crucial moments to dominate both sets and secure…

BoI Secures CBN Approval to Operate Non-Interest Banking Window The Bank of Industry (BoI) has secured regulatory approval from the Central Bank of Nigeria (CBN) to operate a Non-Interest Banking (NIB) Window. Announcing the milestone on Sunday in Lagos via a statement, Managing Director, BoI, Dr Olasupo Olusi, said the development marked a significant milestone in the bank’s growth and long-term development agenda. Olusi said the approval authorises BoI to commence non-interest banking operations. According to him, it positions the bank to further advance Nigeria’s sustainable and inclusive industrial development through tailored financial solutions for underserved and high-impact business segments. Olusi noted that the NIB operations would enable BOI to drive inclusive…

NCC Committed to Regional Digital Integration – Maida The Nigerian Communications Commission (NCC), in line with its commitment to collaboration and regional integration, has reaffirmed its dedication to strengthening partnerships among telecommunications regulators within the West African sub-region. The Executive Vice Chairman of NCC, Dr. Aminu Maida re-affirmed the commitment when the Commission hosted a high-level delegation from the Liberia Telecommunications Authority (LTA) at the NCC’s Head Office in Abuja at the weekend. Speaking during the LTA’s visit, Maida, who was represented by the Director of Corporate Planning, Strategy and Risk Management at NCC, Dr. Kelechi Nwankwo, emphasized the Commission’s…

Ghana Recalls High Commissioner to Nigeria President John Mahama of Ghana has recalled the country’s High Commissioner to Nigeria, Baba Ahmed, over alleged links to electoral malpractices in Ghana’s parliamentary election primaries for Ayawaso East Constituency. A statement issued by the Ghanaian Presidency on Saturday in Accra, explained that Ahmed, an aspirant, was recalled due to his alleged role in election malpractice as a serving public officer. According to the statement, the recall takes effect immediately, and the decision is intended to avoid any perception of impropriety or conflict with the Government’s Code of Conduct for Political Appointees. It stressed…

CPPE Cautions Against Premature Compulsory Value-Addition Policies Centre for the Promotion of Private Enterprise (CPPE) has cautioned against the adoption of compulsory domestic value-addition policies without adequate processing capacity. According to CPPE founder, Dr Muda Yusuf, such measures can distort commodity markets and undermine Nigeria’s non-oil export growth. He made this known on Sunday in Lagos via a statement. Yusuf acknowledged the growing policy emphasis on domestic value addition as a pathway to industrialisation, job creation, export diversification and improved foreign-exchange earnings. He affirmed that efforts to move Nigeria up the value chain in the production and export of primary…