Lagos, Sept. 29, 2025- The World Bank is to approve two major loans for Nigeria totaling $750m on Tuesday, Sept. 30, 2025. The loans are to facilitate the the take-off of Nigeria’s digital infrastructure to expand broadband access and also to strengthen Nigeria’s healthcare security. According to the bank’s website, the financing package includes a $500m facility for the Building Resilient Digital Infrastructure for Growth in Nigeria (BRIDGE) project and a $250m loan under the Health Security Programme in Western and Central Africa, Nigeria – Phase II. The BRIDGE project …
Global debt hits record of nearly $338 trillion, says IIF
London, Sept 26, 2025 – Global debt hit a record high of $337.7 trillion at the end of the second quarter, driven by easing global financial conditions, a softer U.S. dollar and a more accommodative stance from major central banks, a quarterly report showed on Thursday. The Institute of International Finance, a financial services trade group, said that global debt rose over $21 trillion in the first half of the year to $337.7 trillion. China, France, the United States, Germany, Britain, and Japan recorded the largest increases in debt …
How US government shutdown could affect financial markets
Washington, Sept. 25, 2025 – The risk of a partial U.S. government shutdown beginning next week is rising as congressional Democrats and Republicans hit an impasse over how to continue to fund the federal government. A shutdown could affect financial markets by limiting the operations of financial regulators and delaying the publication of key economic data. How might markets react? Historically, markets have tended to shrug off shutdowns. However, this time could be different. A prolonged shutdown risks delaying or canceling key economic data releases investors use to assess …
CBN appeals to Nigerians to stop abuse of banknotes
Abujja, Sept 25, 2025- The Central Bank of Nigeria (CBN) has advised Nigerians to stop poor handling of the banknotes. The apex bank made the appeal in Abuja on Wednesday during the launch of a nationwide sensitisation campaign on proper naira handling of banknotes. Bala Bello, the CBN Deputy Governor (Operations Directorate), said poor handling of banknotes had led to increased cost of their replacement. He said that banknote were national assets and not just a medium of exchange Bello, who was represented by Adedeji Adetona, the Director of …
Naira appreciates at official market Wednesday, closing at N1,486.8 to the dollar
Lagos, Sept. 25, 2025 – The Nigerian currency, Naira, appreciated at the official foreign market on Wednesday, closing at N1,486.8 to the dollar. The Naira exchange rate in the market on Tuesday was N1,493.2 to the dollar. Bid rates in the market on Wednesday ranged between N1,498 and N1,481 to the dollar. Meanwhile, the Naira was traded at between N1,505 and N1,510 to the dollar at black markets in Lagos Wednesday.
FG’s revenue rises to N3.64 trillion in September 2025
Abuja, Sept. 24, 2025 – Federal government’s revenue rose to N3.64 trillion in September 2025, an increase of 411 per cent over the N711 billion recorded at inception of President Bola Tinubu’s administration in May 2023. Zacch Adedeji, the Chairman of Federal Inland Revenue Service (FIRS), disclosed this while speaking with State House correspondents in Abuja. He attributed the recent steady growth in Nigeria’s revenue to bold fiscal reforms introduced by President Bola Tinubu’s administration. The FIRS boss said non-oil revenue grew sharply from N151 billion to N1.06 trillion …
Sanwo-Olu flags off FNITCC 2025 at Georgia State Capitol
Lagos, Sept. 24, 2025 – Babajide Sanwo-Olu, the Executive Governor of Lagos State, officially launched the 2025 edition of the Fidelity Nigeria International Trade and Creative Connect (FNITCC) at the Georgia State Capitol in Atlanta, Georgia, USA, on Thursday, Sept. 18, 2025. In his keynote address, Sanwo-Olu reaffirmed Lagos State’s readiness to collaborate with corporate organizations and sub-national governments across the globe to unlock the state’s vast economic potential. He described Lagos as a powerhouse of non-oil revenue, noting that in 2024 alone, the state attracted $5.95 billion in …
CBN reduces bank lending rate to 27% from 27.5%
Abuja, Sept. 23, 2025 – The Central Bank of Nigeria (CBN) had reduced the Monetary Policy Rate (MPR) to 27% from 27.5%. The MPR is the nominal anchor for bank lending rates. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) took the decision at its meeting which ended in Abuja on Tuesday. This is the first time the CBN is reducing the MPR in more than three years. The MPC also reduced the Cash Reserve Ratio (CRR) for commercial banks to 45% from 50%, while that …
AfCFTA digital trade protocol hailed as game changer for intra-African trade
Lagos, Sept. 22, 2025 – Experts have praised the AfCFTA Digital Trade Protocol as a game changer that has created a legal framework and basis to drive and shape the future of digital trading to accelerate Intra-Africa trading. “We’ve seen this over the last few years as a task force looking at the digital trade protocols of the AfCFTA. It is a game changer, and it is very important for my bank to participate in its implementation.” Says Mr. Emeka Onyia, Director in charge of Digital Trade at Afreximbank. Speaking …
Fidelity Bank commences disbursement of FGN MSME Intervention Funds
…. Reaffirms support for women entrepreneurs Lagos, Sept. 22, 2025 – Fidelity Bank Plc, a tier one lender, has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds. The fund is being administered by the Bank of Industry (BOI) to qualified SMES with a strategic focus on empowering women-owned businesses across the country. The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) across all 36 states of the federation. The intervention aligns with Fidelity Bank’s commitment to …