Nigerian Overnight Financing Rate (NOFR) – Frequently Asked Questions (FAQs)
April 17, 2026
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Central Bank of Nigeria and Financial Market Dealers’ Association Announce the Nigerian Overnight Financing Rate (NOFR) as New Money Market Benchmark
April 17, 2026
Central Bank of Nigeria and Financial Market Dealers’ Association Announce the Nigerian Overnight Financing Rate (NOFR) as New Money Market Benchmark
Read moreTwo Nigerians face U.S. charges over $100m IRS fraud scheme
April 16, 2026
U.S. authorities have charged two UK-based Nigerian nationals over an alleged large-scale tax fraud scheme that sought to siphon more than $100 million from the Internal Revenue Service (IRS) using stolen identities. According to indictments unsealed on Wednesday in the…
Read moreUK jails Nigerian couple over £433,000 tax fraud using stolen data
April 16, 2026
A Nigerian couple, Luciana and Femi Akanbi, have been sentenced to three years and nine months in prison in the United Kingdom for orchestrating a large-scale tax fraud that siphoned over £433,000 from public funds using stolen personal data. According…
Read moreTonye Cole, Kemi Adeosun, Dr. Jumoke Oduwole, and Rick Swart to headline DBNC 2026
April 16, 2026
The Doing Business in Nigeria Conference (DBNC) is a platform for strategic business engagement, innovation, and high-level networking. Since its inception, it has convened top entrepreneurs, investors, and industry leaders to address the challenges and seize the opportunities shaping the…
Read moreN300,000 monthly salary loses value as Abuja living costs squeeze households
April 16, 2026
At a time when Nigeria’s economic discourse is dominated by inflation, exchange rate pressures, and subsidy reforms, the real impact is most visible in everyday life. The post N300,000 monthly salary loses value as Abuja living costs squeeze households …
Read moreAfreximbank reports N1.5 trillion profit in 2025 as lending capacity expands
April 16, 2026
African Export-Import Bank (Afreximbank) reported a 2025 profit of US$1.15 billion (N1.5 trillion), up from US$973.5 million (N1.3 trillion) in 2024, reflecting improved earnings performance. This growth was supported by interest income of about N4.2 trillion at an exchange rate…
Read moreCBN mops up N4.48 trillion in two sessions of radical liquidity tightening
April 16, 2026
Nigeria’s Central Bank of Nigeria (CBN) absorbed a total of N4.48 trillion from the banking system within two sessions in six days through aggressive Open Market Operations (OMO), leaving opening balances of banks and discount houses down in mid-April. CBN’s financial system data between April 8…
Read moreFX, OMO Bills drive FMDQ Exchange’s record N193.2 trillion turnover in Q1 2026
April 16, 2026
The FMDQ Exchange recorded a total turnover of N193.20 trillion in the first quarter of 2026, highlighting robust activity in Nigeria’s fixed income and currency markets as investors gravitated toward highly liquid instruments. This disclosure was made by the Group Chief…
Read moreFirst Bank discharged by court from alleged $8.49 million Nimex–Conoil dispute
April 16, 2026
The Federal High Court, Abuja, has discharged First Bank of Nigeria Limited from a $8,488,752.88 garnishee proceedings dispute between NIMEX Petrochemicals Ltd and another party against Conoil Plc. The enrolled copy of the ruling, delivered by Justice M. Umar on March 31,…
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