Nigeria’s three tiers of government shared a total sum of N2.036 trillion, being March 2026 Federation Account Revenue at the April 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The N2.036 trillion total distributable revenue comprised distributable statutory
The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association (FMDA), have announced the introduction of the Nigerian Overnight Financing Rate (NOFR), a standardized benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s
The Arab Bank for Economic Development in Africa (BADEA) has signed a EUR 40 million Line of Credit Facility Agreement with the Development Bank of Nigeria (DBN) to further strengthen private sector development and entrepreneurship in Nigeria. The agreement was
Sub-Saharan Africa’s economic recovery from a decade of global shocks is showing signs of stalling, with growth projections for 2026 revised downward by 0.3 percentage points from estimates previously published in October 2025, according to the latest edition of the Africa
The Board of Directors of African Export-Import Bank (Afreximbank) has approved a US$10 billion Gulf Crisis Response Programme (GCRP) to insulate African and Caribbean economies, financial institutions and corporates from the impact of the ongoing Gulf crisis. Afreximbank in a
Minister of State for Finance Mr Taiwo Oyedele has said that reform is not optional but the seed for progress, hence an inevitable choice for Africa to combat illicit financial flows(IFFs) Oyedele who was speaking at the closing of the
The Heads of the International Energy Agency, International Monetary Fund, and World Bank Group have agreed to form a coordination group to maximize their institutions’ response to the energy and economic impacts of the war in the Middle East. They
The Central Bank of Nigeria (CBN) announces the successful conclusion of the banking sector recapitalisation programme initiated in March 2024. This was contained in a statement jointly signed by the bank’s Director, Banking Supervision Olabukola Akinwu and Acting Director Corporate
A total sum of N1.894Â trillion, being February 2026 Federation Account Revenue, is what was shared this Friday in Abuja to the Federal Government, States and the Local Government Councils at the March 2026 Federation Account Allocation Committee (FAAC) meeting.
The Infrastructure Concession Regulatory Commission (ICRC) has convened the inaugural meeting of the Presidential Project Development Committee (PDC) for the Ikom Multipurpose Dam and Hydropower Project, formally commencing structured development of the project under a Public-Private Partnership (PPP) framework. The
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