Abuja, Nigeria – June 29, 2025 The Managing Director/Chief Executive of the Nigerian Education Loan Fund (NELFUND), Mr. Akintunde Sawyerr, has reiterated the Fund’s unwavering commitment to driving educational development across the country through strategic financial interventions. Speaking on the progress of NELFUND’s initiatives, Mr. Sawyerr noted that several institutions have already benefited from the
Lagos, Nigeria – June 28, 2025 The Nigerian naira recorded a modest gain in the parallel market, appreciating to ₦1,575 per dollar on Friday, reflecting renewed confidence and improved foreign exchange liquidity in the informal segment of the market. Currency dealers across major cities, including Lagos and Abuja, reported increased dollar availability and moderated demand,
Abuja, Nigeria – June 27, 2025 The Central Bank of Nigeria (CBN) has reported a marginal decline in the country’s money supply (M2), which stood at ₦118.99 trillion in May 2025. This represents a 0.23% drop compared to the ₦119.27 trillion recorded in April 2025. According to the latest Money and Credit Statistics released by
The Federal Government, through the Ministry of Finance Incorporated (MOFI), has launched a landmark ₦250 billion Real Estate Investment Fund (MREIF) aimed at closing Nigeria’s staggering housing deficit—estimated at between 20 and 28 million units. The initiative follows two fully subscribed funding rounds: the initial ₦150 billion Series 1, solely funded by MOFI, and a ₦100 billion Series 2 offering taken
ABUJA, Nigeria – June 2025 The Nigerian Senate has issued a renewed 10-day ultimatum to the Nigerian National Petroleum Company Limited (NNPC Ltd) to provide detailed explanations and documents regarding the alleged non-remittance of ₦210 trillion in revenue. This comes after the Senate Committee on Public Accounts firmly rejected NNPC’s request for a two-month extension
UMUAHIA — Governor Alex Otti of Abia State is set to officially flag off the construction of the Abia Medical City, a landmark $1.3 billion healthcare infrastructure project, in early July 2025. The initiative is designed to transform the state into a premier hub for medical excellence and reverse the growing trend of outbound medical
ABUJA — The Central Bank of Nigeria (CBN) has attributed the delay in the commencement of a critical ₦85 billion healthcare infrastructure project to ongoing litigations initiated by the Nigeria Governors Forum (NGF) and other unnamed “interlopers.” The CBN said the project, which aims to establish 774 functional healthcare centres across each Local Government Area
LAGOS — Operators in the Bureau De Change (BDC) sector have raised concerns over the presence of what they describe as an “extremely large volume of unaccounted foreign exchange liquidity” circulating within Nigeria’s financial system. They insist that the forex market is being significantly influenced by unofficial inflows, which continue to distort pricing and undermine
Lagos, June 23, 2025 – The Nigerian naira experienced mild depreciation in the parallel (black) market on Monday, trading between ₦1,585 and ₦1,605 per U.S. dollar, as demand for the greenback continues to outpace supply despite recent interventions by the Central Bank of Nigeria (CBN). Currency dealers across key markets in Lagos, Abuja, and Port
Lagos, June 23, 2025 – Nigeria’s financial landscape is undergoing a major transformation, with Point of Sale (POS) agents now handling a record-breaking ₦223.27 trillion in transactions in 2024, even as ATM usage continues to decline steadily across the country. According to the latest data from the Central Bank of Nigeria (CBN), total transactions via
