Money

Currency weakness remains a major pressure point for many African economies. When a local currency loses value against the US dollar, imports become more expensive. Businesses pay more for fuel, machinery, raw materials, medicine, and food. Consumers then face higher prices in markets, shops, and transport systems. For Nigerian readers,…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) concluded its highly anticipated 305th meeting with a clear focus on macroeconomic stability. Led by Governor Olayemi Cardoso, all eleven committee members voted unanimously to maintain the benchmark Monetary Policy Rate (MPR) at 26.5%. This decision reflects a…

First Bank of Nigeria Limited and Visa have unveiled two new payment cards to boost digital transactions in Nigeria. The products include a Visa Signature card for premium customers and a Naira Visa Debit Card for everyday users. The launch took place at FirstBank’s headquarters in Lagos on May 15,…

In a significant enforcement action aimed at improving market integrity, the Nigerian Exchange Regulation Limited (NGX RegCo) has sanctioned five major stockbroking firms for engaging in banned trading activities. These include market manipulation and price distortion. The regulatory sanctions was announced in a notification dated March 27, 2026. It followed…

Is Nigeria still business-friendly? The answer is not straightforward. The country shows signs of positive change on the surface, but underlying structural challenges persist. Over the past two years, Nigeria has launched some of its most ambitious economic reforms in decades. These changes, from foreign exchange liberalization to the removal…