Author: Ogochukwu Ndubuisi

Oil prices reduced slightly in the global commodity market on Wednesday ahead of U.S-Iran nuclear talks in Geneva, with the hope that diplomatic discussions will reduce supply risks.

Household consumption continues to rise steadily across the euro area as the economy outperformed Fitch Ratings’ expectations in 2025, increasing by 1.5%, and Fitch expects a similar rate of expansion in 2026.

Sustained Inflation Decline Informed MPR Reduction to 26.50% — Cardoso The Central Bank of Nigeria (CBN) says its decision to reduce the Monetary Policy Rate (MPR) by 50 basis points was partly informed by sustained deceleration in year-on-year inflation. The CBN Governor, Yemi Cardoso, said this on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the Monetary Policy Committee (MPC). The MPC reduced the MPR by 50 basis points to 26.50 per cent from 27 per cent. The committee also retained the Cash Reserve Ratio (CRR) at 45 per cent for commercial banks and 16 per…

Pension Funds Equity Investment Hits N3.96trn in 5 yrs – PenOp The Pension Fund Operators Association of Nigeria (PenOp) says pension fund investment in domestic equities rose to N3.96 trillion as of December 2025. PenOp in a statement on Tuesday, said this reflected sustained growth and increasing confidence in the capital market. According to the association, equity investments increased from N915.31 billion in December 2021 and N908.02 billion in December 2022 to N1.57 trillion in December 2023. PenOp noted that the figure rose further to N2.24 trillion in December 2024 before climbing significantly to N3.96 trillion in 2025. The association…

20 Banks Ready for Recapitalisation, Meet New Minimum Capital Requirements – Cardoso The Central Bank of Nigeria (CBN) says 20 Nigerian Banks have already met the new minimum capital requirement in the ongoing bank recapitalisation exercise. The Governor of the CBN, Mr Yemi Cardoso, made this known on Tuesday in Abuja while presenting the communiqué from the 304th meeting of the apex bank’s Monetary Policy (MPC). In March 2024, CBN announced a major bank recapitalisation programme requiring Nigerian banks to raise higher capital bases within 24 months. This is to make the financial sector stronger, more resilient, and able to…

LIRS Considers Use of AI by Residents to File Tax Returns Lagos State Internal Revenue Service (LIRS) says Artificial Intelligence may soon assist Lagos residents in filing tax returns as part of its ongoing digital reforms. The Executive Chairman of LIRS, Ayodele Subair, said this during a webinar organised by the Fintech Association of Nigeria on Tuesday. The theme of the event was “Fintech in Nigeria 2026: Navigating the New Tax Regime”. Subair said the future of tax administration lay in intelligent automation and technology-driven compliance. “It is a strong possibility that AI agents will assist taxpayers in filing their…

Why We’re Yet to Charge El-Rufai to Court – EFCC The Economic and Financial Crimes Commission (EFCC) has explained why it is yet to charge the former governor of Kaduna State, Malam Nasir El-Rufai, to court after he was interrogated for three days. El-Rufai was held in EFCC’s custody for two nights, from Feb. 16 to Feb. 18, over corruption allegations levelled against him. A source close to the commission told News men that the former governor was still under investigation by the commission, hence he could not be charged to court yet. The source said the commission would not…

Equities investors in the Nigerian market lost N1.14 trillion on Tuesday after the regulator warned investors of unusual price swings and urged caution.

Pan-African lender, United Bank for Africa (UBA) Group, has hinted at the final dividend payment for 2025, as the market awaits the release of its audited financial statements.

China Backs Peace Efforts on Ukraine Crisis China supports all efforts aimed at achieving peace in the Ukraine crisis, a foreign ministry spokesperson said on Tuesday. Speaking at a regular news conference, Foreign Ministry spokesperson, Mao Ning, said that China’s position on the crisis has been consistent and clear. “Recently, a door for dialogue has finally opened in the Ukraine crisis, with all parties maintaining talks,” Mao said. Mao added that dialogue and negotiation remain the only viable path to resolving the issue. She expressed hope that all parties would seize the opportunity to reach a comprehensive, lasting and binding…