Abuja, Dec. 15, 2025 – Nigeria’s headline inflation rate has dropped to 14.45% in November from 16.05% in October 2025. This is 1.6% drop in the inflation rate in a month and also the 8th consecutive decline. The Nigeria Bureau of Statistics (NBS) disclosed this in its latest report on Inflation and Consumer Price Index released on Monday. The headline inflation rate dropped by 20.15% from the 34.60% recorded in November 2024. According to the NBS, the food inflation rate stood at11.08 percent, a 28.85 percent lower the 39.93 …
UK economy contracts by 0.1% in October
London, Dec. 15, 2025 – The UK economy shrank by 0.1 per cent in October, in a slowdown that analysts and the UK statistics agency linked to concerns about Rachel Reeves’ tax-raising Budget. The figures published on Friday compare with the 0.1 per cent expansion forecast by economists polled by Reuters and underscore the challenges facing the country’s Labour government. The contraction on the previous month is bad news for Reeves, who has faced heavy criticism from MPs over months of confidence-sapping leaks and speculation that preceded her Budget …
Nigeria records N6.68trn merchandise trade surplus in Q3 2025
Abuja, Dec. 12, 2025 – Nigeria recorded N6.68 merchandise trade surplus in the third quarter of 2025. The National Bureau of Statistics (NBS) reported this in its latest quarterly report on trade. The total volume of merchandise trade during the period trade rose to ₦38.9 trillion during the period. This represents 2.36 percent rise over the figure recorded in the second quarter of 2025. The value of Nigeria’s exports during the period was ₦22.8 trillion, while total value of its imports was ₦16.12 trillion. The NBS attributed the trade …
Tinubu presents 2026/2028 MTEF/FSP to National Assembly
Abuja, Dec. 12, 2025 – President Bola Tinubu has sent the 2026/2028 Medium Term Expenditure and Fiscal Strategy Paper (MTEF/FSP) to the National Assembly for approval. The MTEF is a three-year plan of the federal government on revenue expectations and spending plan prepared ahead of the annual budgets. Jibrin Barau, the Deputy President of the Senate, announced this while reading the letter from the presidency at the plenary on Thursday. The letter, with the tittle “Submission of the FGN 2026 to 2028 Medium Term Expenditure Framework and Fiscal Strategy Paper,” …
Naira slides at official market Wednesday, closing N1,458 to dollar
Lagos, Dec. 11, 2025 – The Nigerian currency, the Naira, depreciated at the official foreign exchange market on Wednesday, closing at N1,458 to the dollar. The currency depreciated from N1,454 to the dollar on Tuesday, losing N4.00 to the dollar. The naira had stabilised at N1, 458 to the dollar at the official market in the last three trading days. Bid rates quoted by dealers in the market on Wednesday ranged between N1,453.76 and N1,458 to the dollar. Meanwhile, the naira is being traded at the black market in …
FG bans physical cash payments for official transactions in MDAs
Abuja, Dec. 9, 2025 – The Federal Government has banned cash payments for official transactions in Ministries, Departments and Agencies (MDAs). It has, therefore, directed the MDAs to install Point of Sale terminals within 45 days to facilitate the implementation of the directive. The instruction was contained in a circular, dated Nov. 24, 2025 and issued by the Office of the Accountant-General of the Federation. It directed that all payments to the Federal Government must now be made electronically and routed through channels approved by the Treasury. “All payments …
China’s trade surplus tops $1 trillion despite plunge in US-bound exports
Beijing, Dec. 8, 2025 – China’s towering annual trade surplus surpassed $1 trillion for the first time last month, data showed Monday, as a sharp drop in shipments to the United States was offset by surging exports to other major markets. Presidents Xi Jinping and Donald Trump reached a tentative truce to their fierce trade war when they met in late October, agreeing a pause to painful measures that included lofty tit-for-tat tariffs. Exports have served as a key economic lifeline for China as trade and relations with the …
Fidelity Bank receives Customs Service Award for pioneering role in UCMS implementation
Lagos, Nov. 3, 2025 – Fidelity Bank’s leadership in digital innovation and public sector collaboration has once again been spotlighted as the tier-one lender was honoured at the Comptroller General of Customs Award Night At the ceremony, which took place at the Transcorp Hilton Hotel Grand Ballroom, Abuja, on Friday, 21 November 2025, Fidelity Bank was presented with a prestigious award by the Nigeria Customs Service (NCS) for being the first bank to successfully process Customs Duty and the Pre-Arrival Assessment Report (PAAR) on the Unified Customs Management System (UCMS). …
CBN reviews cash withdrawal rules effective Jan. 1 2026
Abuja, Dec. 3, 2025 – The Central Bank of Nigeria (CBN) has reviewed cash withdrawal rules from bank from January 2026. The apex bank announced the new rules through a circular released on Tuesday, December 2, 2025, and signed by Dr. Rita I. Sike, the CBN Director of the Financial Policy & Regulation Department. It said the new rules were designed to reduce the cost of cash management, strengthen security, and curb money laundering risks associated with the economy’s heavy reliance on physical currency. “These policies, issued over the years …
NNPC, CBN partner to achieve economic stabilility, resilience
Abuja, Nov. 3, 2025 – The Nigerian National Petroleum Company (NNPC) Limited and the Central Bank of Nigeria (CBN) are partnering to find new avenues to stabilise the economy. Bayo Ojulari, the Group Chief Executive of NNPC, disclosed this on Tuesday in a post on social media. He said the two organisations sealed the partnership during his meeting with Olayemi Cardoso, the Governor of CBN. “It was a moment of significant alignment and shared purpose to receive Governor Oluyemi Cardoso @olayemicardoso1 of the Central Bank of Nigeria @cenbank on …