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By Paul Chimodo For many Nigerians, a domiciliary account is seen as the safest way to “save in dollars” and protect earnings from naira depreciation. But beneath the surface of that belief lies a more complicated financial reality that continues to frustrate savers in 2026. A domiciliary account is a foreign currency account offered by
Financial expert Kenneth Okara has questioned the Federal Government’s plan to secure a fresh $1.25 billion loan from the World Bank. He said Nigerians deserve accountability on how previous loans and subsidy savings have been utilized. Okara warned that continued borrowing without visible development projects could worsen inflation and economic hardship for citizens. He stressed
The Nigerian Institution of Estate Surveyors and Valuers says the refusal of local government chairmen to engage professionals is responsible for the arbitrary collection of tenement rates across the country. The Chairman of the institution, ESV Nwokoma Nwankwo, warned that failure by individuals and corporate organisations to properly value their properties is also risky and
By Paul Chimodo The Central Bank of Nigeria (CBN) is preparing to reshape the way diaspora remittances are paid into the country, introducing a policy that will end the payout of foreign currency to recipients. From May 1, 2026, all international money transfers into Nigeria will be disbursed strictly in naira. This means Nigerians receiving
The Nigerian Aviation Handling Company Plc has announced a total dividend payout of twelve point one eight billion naira for shareholders following its 2025 financial performance. The company proposed a dividend of six naira twenty-five kobo per share, representing an increase compared to the previous year’s payout. In addition to the cash dividend, the company
A new economic report has revealed that non-oil revenue now accounts for seventy-five percent of Nigeria’s federally collected funds, reflecting a gradual shift from dependence on crude oil earnings. The March 2026 report by economic analysts stated that tax revenues, customs duties and other non-oil sources contributed significantly to the country’s fiscal position. The report
Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), has warned that the global trading system is facing the “worst disruptions in the past 80 years.” Over a four-day meeting in Yaounde, WTO members are set to discuss strategies to revitalise the institution, which has been weakened by geopolitical tensions, stalled negotiations, and rising protectionism.
The federal government has issued a new directive requiring that all oil and gas revenues be paid directly into the federation account. This policy change eliminates previous arrangements that allowed some earnings to be retained by state-owned entities before remittance. Officials say the reform is meant to boost transparency and ensure that revenue from Nigeria’s
The Central Bank of Nigeria (CBN) has reduced the country’s benchmark interest rate by 50 basis points to 26.50 per cent from 27 per cent. The decision was announced on Tuesday at the end of the apex bank’s 304th Monetary Policy Committee (MPC) meeting held in Abuja. The Monetary Policy Rate (MPR), which serves as
The Federal Government has announced plans to adopt the aerotropolis model to drive growth in the aviation industry. The strategy involves developing airport cities that integrate business hubs, logistics centres, and commercial activities around major airports. Authorities also revealed that a global aviation summit would soon be hosted to attract investors, aircraft lessors, and international
