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The Business NG
T-Bill Yields Fall to 18.10% as Investors Demand for Naira Assets Strengthens
Yields on Nigerian treasury bills declined to an average of 18.10% per year in the secondary market as investor demand for Naira-denominated government assets increased ahead of this week's primary auction.
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Abba Kabir Yusuf Readies Move from NNPP to APC After Meeting with Tinubu
Following a closed-door meeting at the Presidential Villa, Abuja, on Monday, Governor Abba Kabir Yusuf of Kano State is reportedly preparing to formally defect from the New Nigeria Peoples Party (NNPP) to the ruling All Progressives Congress (APC).
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Between 2016 and 2025: Nigerians Struggle Amid 10-Fold Food Price Hike
Nigerians are facing a sharp rise in the cost of basic food items, with staple commodities now 4 to 10 times more expensive than they were in 2016, according to statistics from the National Bureau of Statistics (NBS).
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Over 10,000 Displaced in Lagos Demolitions at Makoko, Oworonshoki
Lagos State demolitions in Makoko and Oworonshoki have displaced more than 10,000 residents, affecting over 3,000 dwellings, according to advocacy group Corporate Accountability and Public Participation Africa (CAPPA).
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Naira Falls to N1,490 as Official-Parallel Exchange Gap Widens
The naira weakened to N1,490 per dollar in Nigeria's parallel market, marking the widest gap with the official rate in 11 months.
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VAT Reform Targets Only Luxury Services, Big Companies - Experts
As Nigeria implements its new Value Added Tax (VAT) reforms, experts have clarified that the changes will mainly affect luxury services and large companies, while everyday essentials and small businesses remain largely unaffected.
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Nigeria Air Force Kills Over 40 Terrorists in Borno Airstrikes
The Nigeria Air Force has killed more than 40 terrorists in a series of airstrikes targeting insurgent hideouts in Borno State.
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Defection Stalls as Kano Governor's APC Ticket Demand Sparks Controversy
The long-rumoured defection of Kano State Governor Abba Kabir Yusuf from the New Nigeria People's Party (NNPP) to the ruling All Progressives Congress (APC) has hit a major snag, with negotiations reportedly delayed over the governor's demand for an automatic governorship ticket ahead of the 2027 election.
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Defence Minister: Porous Borders Driving Nigeria's Insecurity
Nigeria's Minister of Defence, Christopher Musa, has highlighted porous borders as a key factor fueling the country's ongoing insecurity crisis.
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Profit-Taking Pulls Nigerian Stock Market Lower Despite Some Strong Performers
The Nigerian stock market experienced its first dip of 2026 on Wednesday, as profit-taking weighed on several major stocks, causing the benchmark All-Share Index (ASI) to fall by 0.43% to 166,057.29 points from Tuesday's close of 166,771.95 points.
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Nigeria's Inflation Climbs to 15% in December, Ending Eight-Month Decline
Nigeria’s headline inflation rate rose to 15.15% in December 2025, according to the National Bureau of Statistics (NBS), marking the first increase after eight consecutive months of decline.
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Nigeria Halts Petrol Imports as Dangote Refinery Meets Local Demand
For the first time in decades, Nigeria's petrol supply chain is undergoing a dramatic shift—one that could redefine how Africa's largest economy fuels itself.
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Nigeria's Debt Service May Exceed N91 Trillion by 2028
Nigeria is heading toward a defining fiscal crossroads, as projections show that the Federal Government could spend more than ₦91 trillion on debt servicing alone by 2028, raising fresh concerns about sustainability, development spending, and the long-term health of public finances under President Bola Ahmed Tinubu's administration.
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EFCC Returns N802.4m to First Bank After Uncovering Glitch-Linked Fraud
The Economic and Financial Crimes Commission (EFCC) has handed over 802.42 million recovered from a fraud case to First Bank Nigeria Plc, marking a significant step in efforts to curb financial crimes arising from system vulnerabilities within the banking sector.
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Kano Commissioners Step Down Ahead of Governor's Party Switch and Cabinet Shake-Up
Several commissioners in Kano State have begun vacating their offices amid heightened political activity surrounding Governor Abba Kabir Yusuf's impending defection from the New Nigeria Peoples Party (NNPP) to the All Progressives Congress (APC).
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Tax Reform Confusion Spreads as Bank Staff Struggle to Explain New Rules
80% of Bank Customer Concerns Center on Tax Laws
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Experts Predict Stronger Naira in 2026
•Naira Poised for Stronger Gains in 2026 - Experts, BDCs
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14 Nigerian Banks Yet to Meet CBN Recapitalization Deadline
With just eleven weeks to go before the Central Bank of Nigeria's (CBN) recapitalization deadline, 14 Nigerian banks have yet to meet the apex bank's minimum capital requirements.
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CBN OMO Auction Attracts N2.73 Trillion
The Central Bank of Nigeria (CBN) opened the 2026 monetary year with a strong show of investor confidence at its first Open Market Operations (OMO) auction, drawing total subscriptions of N2.727 trillion.
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Rivers Boils, Tinubu Watches
The escalating political crisis in Rivers State has once again placed President Bola Ahmed Tinubu at the centre of a high-stakes power struggle, as impeachment proceedings against Governor Siminalayi Fubara threaten the fragile peace he personally brokered in the state.
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POS Operators in CAC Registration Row
The Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) has clarified that its members do not require Corporate Affairs Commis-
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PwC Warns 141m Nigerians May Fall into Poverty by 2026
Poverty in Nigeria is expected to worsen significantly, with an estimated 141 million people—about 62% of the population—likely to live in poverty by 2026, according to PwC's Nigeria Economic Outlook 2026: Turning Macroeconomic Stability into Sustainable Growth.
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Over 93% of Nigeria's Cash Circulates Outside Banks - CBN
Nigeria's cash economy remained overwhelmingly dominant in 2025, with the majority of physical currency continuing to circulate outside the formal banking system, according to the Central Bank of Nigeria's (CBN) latest money and credit statistics.
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229 Bank Branches Shut in One Year as PoS Transactions Rise
Nigeria's banking industry is accelerating its transition toward digital and agent-based services, with 229 physical bank branches shut across the country within one year as customers increasingly embrace Point of Sale (PoS) terminals and other electronic payment channels for everyday transactions.
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Resident Doctors Set to Resume Nationwide Strike January 12
Resident doctors across Nigeria have announced plans to resume a nationwide strike on January 12, 2026, following what they described as the Federal Gov-
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FG Drops Criminal Case Against Senator Natasha Akpoti-Uduaghan
The federal government has formally withdrawn the criminal charge it instituted against Natasha Akpoti-Uduaghan, the sena-
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PMI Survey Shows Nigerian Private Sector Poised for Growth Amid Cost Pressures
Nigeria’s private sector is showing strong signs of resilience, with business sentiment reaching a six-month high at the end of 2025, according to the latest Stanbic IBTC Bank
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Foreign Investors Eye Undercapitalised Nigerian Banks Amid CBN Clampdown
Nigeria's banking sector is at the center of an intense recapitalisation drive as the Central Bank of Nigeria (CBN) tightens enforcement ahead of the March 31, 2026, compliance deadline.
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Lawyers Invoke FOI Act to Demand Disclosure of FIRS-France Tax Agreement
A civil society organisation, Lawyers for Civil Liberties, has invoked the Freedom of Information (FOI) Act to request access to the mem-
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Tinubu to Present N54 Trillion 2026 Budget to National Assembly Today
President Bola Ahmed Tinubu will on Friday (today) present the 54 trillion 2026 budget to a joint session of the National Assembly.
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