4 h. ago Failed Water Projects: Nigeria To Pay W/Bank $6.25m Yearly For 40 Years

Nigeria is set to repay $6.25 million annually over the next 40 years, totalling more than $250 million, excluding interest, for a World Bank loan meant to improve water access in Ekiti, Bauchi, and Rivers states, despite negligible results, a new report has revealed. Approved in 2015, the Third National Urban Water Sector Reform Programme […]

Politics

33 h. ago CBN revises documentation requirements for PAPSS transactions

From Adanna Nnamani, Abuja The Central Bank of Nigeria (CBN) has announced a revision to the documentation requirements for transactions conducted through the Pan-African Payment and Settlement System (PAPSS) in Nigeria. In a circular on Monday, which was signed by its Ag. Director, Corporate Communications, Hakama Ali, the apex bank said the review is part […] The post CBN revises documentation requirements for PAPSS transactions appeared first on The Sun Nigeria.

Politics

34 h. ago Naira Redesign: Court Strikes Out N1bn Suit Against Buhari, Emefiele, CBN

The Federal High Court in Abuja presided over by Justice Inyang Edem Ekwo has struck out a N1 billion suit filed against former President Muhammadu Buhari and former Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, over the hardships that trailed the 2023 Naira redesign policy. The judge dismissed the suit filed by […]

Events

35 h. ago CBN directs banks to source FX for PAPSS settlement through NFEM

The Central Bank of Nigeria (CBN) has announced that authorised dealer banks can now independently source foreign exchange for Pan-African read more CBN directs banks to source FX for PAPSS settlement through NFEM

Politics

53 h. ago NDIC begins payment of N46.6bn liquidation dividends to heritage bank depositors

Soothing news came the way of anxious depositors affected by the closure of Heritage Bank as the Nigeria Deposit Insurance Corporation (NDIC) said it has commenced the payment of N46.6 billion as the first tranche of liquidation dividends. The payment, which began on Friday, April 25, 2025, is targeted at depositors whose balances exceeded the […] The post NDIC begins payment of N46.6bn liquidation dividends to heritage bank depositors appeared first on The Sun Nigeria.

Politics

58 h. ago NDIC pays N46.6bn liquidation dividends to depositors of Heritage Bank

In its continued commitment to ensuring that depositors of the defunct Heritage Bank are fully reimbursed, the Nigeria Deposit Insurance read more NDIC pays N46.6bn liquidation dividends to depositors of Heritage Bank

Politics

61 h. ago World Bank’s 56% poverty rate projection for 2027 worries NACCIMA, OPS 

The World Bank’s projection that Nigeria’s poverty rate could soar to 56 percent by 2027 is now a source of read more World Bank’s 56% poverty rate projection for 2027 worries NACCIMA, OPS 

Politics

3 d. ago Nigeria Has Exited Turbulent Economic Period – Cardoso, Edun

Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, and the minister of Finance and Coordinating minister of the Economy, Wale Edun, have declared that Nigeria has exited its most turbulent economic period and is now firmly on the path to growth and stability. Speaking on Friday night at a joint press conference at […]

Politics

3 d. ago At  World Bank/IMF Spring Meeting, Shettima pushes for Nigeria’s HCD 2.0 Agenda

Vice President Kashim Shettima has called for stronger international collaboration to advance Nigeria’s Human Capital Development 2.0 (HCD 2.0) strategy. read more At  World Bank/IMF Spring Meeting, Shettima pushes for Nigeria’s HCD 2.0 Agenda

Politics

4 d. ago Hajj 2025: CSO Urges Enlightenment Of Intending Nigerian Pilgrims On Currency Value, Exchange Rate

As preparations for the 2025 Hajj exercise gain momentum, the Independent Hajj Reporters (IHR), a faith-based civil society organisation, has called on State Muslim Pilgrims Welfare Boards and airlines to educate intending pilgrims on the use and identification of foreign currencies—particularly the US dollar and Saudi Riyal. The appeal followed the Central Bank of Nigeria’s […]

Politics

4 d. ago World Bank sees poverty rising in Nigeria despite economic growth

The World Bank has predicted that Nigeria may likely see a rise in the levels of poverty over the next read more World Bank sees poverty rising in Nigeria despite economic growth

Politics

5 d. ago World Bank forecasts 3.4% economic growth for Nigeria in 2025

From Adanna Nnamani, Abuja The World Bank has announced a positive outlook for Nigeria’s economy, projecting a growth rate of 3.6 per cent in 2025, following an estimated expansion of 3.4 per cent in 2024. This optimistic forecast comes as reforms begin to demonstrate their potential in stabilizing the country’s macroeconomic environment. Released in the […] The post World Bank forecasts 3.4% economic growth for Nigeria in 2025 appeared first on The Sun Nigeria.

Politics

5 d. ago ‘Nigeria, other emerging economies face longer period of tighter financing’

By Adewale Sanyaolu with agency reports Nigeria and other emerging economies will have to grapple with tighter global financing conditions for longer while the future of risk-free assets is very much in focus, the head of South Africa’s central bank has said. The World Bank views Nigeria as an emerging economy, recognizing its significant economic […] The post ‘Nigeria, other emerging economies face longer period of tighter financing’ appeared first on The Sun Nigeria.

Politics

5 d. ago 2025 Hajj: Pilgrims To Get Travel Cash After VP Shettima’s Intervention

The Central Bank of Nigeria (CBN) has approved cash-based Basic Travel Allowance (BTA) for Nigerian pilgrims participating in the 2025 Hajj, following a personal intervention by Vice President Kashim Shettima. According to a statement by the spokesman of the vice president, Stanley Nkwocha, the decision marks a significant reversal of an earlier CBN directive mandating […]

Politics

6 d. ago Nigerians accumulate N75.65trn in savings, liquid assets –CBN

By Chinwendu Obienyi Amid mounting macroeconomic uncertainty, Nigerians are leaning heavily towards savings and low-risk financial instruments, with recent data from the Central Bank of Nigeria (CBN) showing a marked increase in quasi-money holdings. Quasi-money are assets that are easily and quickly convertible into cash. They are considered to be close substitutes for cash in […] The post Nigerians accumulate N75.65trn in savings, liquid assets –CBN appeared first on The Sun Nigeria.

Politics

7 d. ago Kolomoni MFB, AMMBAN partner on AfriGo debit cards inclusion for expansion

From Bamigbola Gbolagunte, Akure Kolomoni Microfinance Bank and the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) have partnered to distribute AfriGO debit cards to millions of Nigerians, aiming to enhance financial inclusion. The collaboration, announced on April 13, leverages Kolomoni’s digital banking expertise and AMMBAN’s extensive agent network to reach unbanked and […] The post Kolomoni MFB, AMMBAN partner on AfriGo debit cards inclusion for expansion appeared first on The Sun Nigeria.

Politics

7 d. ago Federation account revenue falls to ₦1.94 trn amid drop in oil receipts – CBN

From Adanna Nnamani, Abuja In January, Nigeria’s Federation Account revenue dropped to ₦1.94 trillion, a 31.35% decline from December 2024 and 35.22% below the monthly benchmark, according to the Central Bank of Nigeria’s (CBN) January 2025 Economic Report. The fall was driven by reduced receipts from Petroleum Profit Tax (PPT), royalties, Company Income Tax (CIT), […] The post Federation account revenue falls to ₦1.94 trn amid drop in oil receipts – CBN appeared first on The Sun Nigeria.

Politics

7 d. ago Maintaining price stability remains CBN’s focus despite renewed inflationary pressure

One of the key goals of the Central Bank of Nigeria (CBN) is to maintain price stability, and this means read more Maintaining price stability remains CBN’s focus despite renewed inflationary pressure

Economics

7 d. ago CBN Struggles With Inflation As Broad Money Supply Surpasses N114trn

Nigeria’s broad money supply surged to N114.22 trillion in March 2025, defying the Central Bank of Nigeria’s (CBN) tight monetary policies. Despite the CBN’s imposition of a 50% Cash Reserve Ratio (CRR), the money supply rose by 24% from N92.19 trillion in March 2024, continuing the trend of monetary expansion. On a monthly basis, the […] The post CBN Struggles With Inflation As Broad Money Supply Surpasses N114trn appeared first on Information Nigeria.

Economics

8 d. ago Union Bank Rewards Customers With Motorcycles, Cash Prizes In Promo

Union Bank of Nigeria has rewarded another set of customers in the ongoing Save and Win Palli Promo 4 campaign. Six lucky customers each won a brand-new motorcycle, and 120 additional winners won cash prizes. The third monthly hybrid live draws were transparently conducted in Lagos under the supervision of relevant regulatory institutions. Union Bank […]

Economics