Stay informed on Nigerian business, economy, and financial trends.
Nigeria’s Federation Account Allocation Committee (FAAC) has shared a total of ₦2.04 trillion among the federal, state, and local governments for March, reflecting a significant increase in revenue. The latest FAAC allocation shows a rise of about ₦150 billion compared to previous distributions, highlighting improved government earnings during the period. The increase is largely attributed…
The UK illegal crypto trading crackdown has intensified after the Financial Conduct Authority (FCA) carried out a major enforcement operation in London. Authorities targeted suspected unregulated peer-to-peer cryptocurrency trading networks. FCA Launches Crypto Trading Crackdown As part of the UK illegal crypto trading crackdown, the FCA raided eight locations across London. Financial Conduct Authority worked…
The Central Bank of Nigeria (CBN) has concluded its 2026 banking recapitalisation programme, with 33 banks raising a total of ₦4.65 trillion in fresh capital. The exercise, which ended on March 31, 2026, is one of the largest capital-raising efforts in the history of Nigeria’s banking industry. According to the CBN, the banks have now…
Nigeria’s gig economy has grown into a major economic force, now valued at $5.17 billion, providing flexible income opportunities for millions of people across the country. A new report commissioned by ride-hailing company Bolt and conducted by research firm Ipsos shows the sector is expanding rapidly and playing a key role in supporting livelihoods. Millions…
Nigeria is intensifying efforts to attract global investors as the country faces a widening infrastructure deficit estimated at $2.3 trillion. Experts say the funding gap, which spans over two decades, continues to limit economic growth and development across key sectors. The investment requirement, projected between 2020 and 2043, highlights the urgent need for sustained funding…
Rising fuel prices in Nigeria are placing increasing financial pressure on households and businesses, as the cost of transportation, food, and essential services continues to climb. In recent months, the steady increase in petrol prices has contributed to higher living expenses across the country, affecting both individuals and business owners. Why Fuel Prices Are Increasing…
OPay has been named the Most Trusted Quality Mobile Money and Digital Financial Services Company of the Year at the 2026 ISO World Corporate Brand of the Year Awards. The award ceremony was held on Thursday, April 9, 2026, at the Providence Hotel in Ikeja, Lagos, bringing together key players and innovators across various industries….
