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The Central Bank of Nigeria (CBN) has revoked the operating licences of 46 microfinance banks as part of ongoing efforts to strengthen the country’s financial system and enforce regulatory compliance. The apex bank said the affected institutions failed to meet regulatory requirements, including compliance with licensing conditions and other provisions of the Banks and Other
Nigeria has emerged as the highest-ranked African country in the economic performance pillar of the IMD World Competitiveness Ranking 2026, outperforming South Africa, Ghana, Kenya, Namibia and Botswana. The ranking assesses countries based on key economic indicators, including growth, trade, employment, investment and public finance, to measure overall competitiveness. The latest report highlights Nigeria’s improved
An urban planning expert has called for stricter enforcement of building regulations and a comprehensive investigation into recent building collapses in Rivers State to prevent further loss of lives and property. The Chairman of the Association of Town Planning Consultants of Nigeria, Rivers State Branch, Edmund Chinem-Nwokaeze, made the call following the recent building collapses
Nigeria’s revenue grew by 49 per cent in the first five months of the year, surpassing government projections despite challenges in the global oil market. The surge was attributed to the government’s ongoing tax reforms and the introduction of new levies targeting key sectors, including petroleum and mining, aimed at expanding the country’s revenue base.
President Bola Tinubu has appointed Mr. Kunle Elebute as the Chairperson of the Financial Reporting Council of Nigeria (FRCN). Elebute, a seasoned financial expert, is expected to provide leadership for the council in promoting transparency, accountability and high standards in financial reporting across the country. The appointment forms part of the administration’s efforts to strengthen
The Mayor of Housing, My-ACE China, says young people should be recognised and developed as leaders of today rather than leaders of tomorrow. Speaking after the Strategic Elevation Conference Port Harcourt 2026, he noted that the true wealth of Rivers State lies in its people and emphasised the importance of proper positioning for success. Motivational
Stakeholders in the energy and maritime sectors have called on the Rivers State Government to establish a Ministry of Blue Economy to accelerate environmental clean-up efforts and harness economic opportunities in the sector. The call was made during the World Oceans Day 2026 celebration organised by the Rivers State Council of the Energy and Maritime
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
