BUSINESS

CBN Projects Petrol Price Increase to N950 Per Litre in 2026

Daily Dispatch January 10, 2026

The Central Bank of Nigeria (CBN) has projected that Premium Motor Spirit (PMS), also known as petrol, could rise to around N950 per litre in 2026. The forecast is based on an average crude oil price of $55 per barrel, domestic crude production of 1.5 million barrels per day, and an assumed

BUSINESS

Just In: Nigeria’s merchandise trade hits N38.9 trn in Q3 2025

Daily Dispatch December 11, 2025

Nigeria’s total merchandise trade surged to N38.9 trillion in the third quarter of 2025, marking a significant expansion in the nation’s trade activities. According to newly released official figures, the Q3 2025 trade value represents an 8.71% increase compared to the N35.8 trillion recorded in the same period of 2024. It also reflects a 2.36% […]

BUSINESS

FG Sets New Rule for Nigerians, Non-Residents to Access Bank Accounts

Daily Dispatch September 13, 2025

Starting January 1, 2026, no Nigerian citizen or foreign resident will be able to open or maintain a bank account without first obtaining a Tax Identification Number (Tax ID). This requirement is part of the Nigeria Tax Administration Act, 2025, signed into law by President Bola Tinubu on June 26, 2025. Beyond banking, the law […]

BUSINESS

CBN: Economy Expands for 8th Straight Month in July at 52.7 PMI

Daily Dispatch September 3, 2025

The Central Bank of Nigeria (CBN) says economic activities grew for the eighth month in a row, with the July 2025 Purchasing Managers’ Index hitting 52.7 points. 26 of 36 Subsectors Record Growth Out of 36 subsectors surveyed, 26 expanded, led by Transportation Equipment, while Paper Products saw the steepest decline. Industry, Services, Agriculture Sustain […]

BUSINESS

CBN reaffirms June 2025 deadline for BDC recapitalisation, dismisses rumoured extension

Daily Dispatch June 12, 2025

The Central Bank of Nigeria (CBN) has reiterated that the deadline for the recapitalisation of Bureau De Change (BDC) operators remains June 3, 2025, countering widespread speculation of a deadline extension. In a statement issued by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank firmly denied reports claiming the deadline […]

BUSINESS

CBN reassures the public of banking stability

Daily Dispatch May 19, 2025

The Central Bank of Nigeria on Monday dismissed reports suggesting distress in a regulated financial institution, describing the claims as misleading and capable of triggering unnecessary panic in the financial system.In a press statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank assured Nigerians that the country’s banking