Nigeria’s first-ever domestic US dollar bond has been named West Africa Deal of the Year at the 2025 Global Banking & Markets Africa Awards, following a highly successful issuance that raised $917 million. Announced by the Debt Management Office (DMO) on August 19, 2024, the bond initially targeted $500 million but was oversubscribed by 180%....
Category: Business
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IMF BACKS NIGERIA’S SINGLE WINDOW TRADE PROJECT AMIDS ECONOMIC REFORMS
Nigeria’s quest for economic greatness has received a significant boost as the International Monetary Fund (IMF) has indicated its support for the Single Window Trade Project, a groundbreaking initiative poised to streamline trade, increase revenue, and propel the country to the forefront of African economies. The IMF’s intention of support was indicated during a meeting...
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PRESIDENT TINUBU APPOINTS MRS LYDIA SHEHU JAFIYA TO NNPC LIMITED BOARD AS FINANCE REPRESENTATIVE
In a significant move to reconstitute the Nigerian National Petroleum Company (NNPC) Limited Board, President Bola Ahmed Tinubu has appointed Mrs Lydia Shehu Jafiya mni, Permanent Secretary, Federal Ministry of Finance, as a member of the new Board. This appointment is part of a broader restructuring effort aimed at enhancing operational efficiency, restoring investor confidence,...
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NIGERIA, JAPAN LAUNCH GROUNDBREAKING YOUTH-FOCUSED VENTURE FUND
In a major boost to youth entrepreneurship, Nigeria and Japan have launched a strategic venture capital initiative that will channel Naira-denominated investments into high-growth startups, shielding them from currency risks while unlocking access to long-term concessional financing. The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, today in his office...
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EDUN COMMENDS LEE ENGINEERING, REAFFIRMS GOVERNMENT’S SUPPORT FOR INDIGENOUS OIL SECTOR
In a bold move to propel Nigeria’s economic growth and self-reliance, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reaffirmed the government’s commitment to supporting indigenous businesses in the oil sector, citing Lee Engineering & Construction Company Limited as a shining example of local excellence. The Minister gave...
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EDUN UNVEILS STABILISATION PROGRESS, ECONOMIC PRIORITIES IN ABUJA BRIEFING
In a landmark virtual briefing, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun presented a comprehensive update on Nigeria’s economic trajectory to selected members of the media, highlighting significant progress, key priorities, and strategic initiatives to drive sustainable growth and development in the country. The Minister’s briefing provided a...
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WALE EDUN HOSTS EU ENVOY, PAVES WAY FOR EXPANDED TRADE, INVESTMENT
In a significant step towards deepening economic cooperation, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, today in his office in Abuja, hosted the European Union (EU) Ambassador to Nigeria, Mr. Gautier Mignot, for a high-level discussions aimed at strengthening EU-Nigeria economic ties. The meeting spotlighted the EU’s €1.3...
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“NO SHORTFALL IN WORKERS SALARIES,NORMAL SALARIES PAID IN JANUARY, FEBRUARY 2025” – OAGF
The Office of the Accountant General of the Federation (OAGF) has explained that there were no shortfalls in salaries paid to Federal Workers in January and February 2025. The OAGF said the salaries that workers received in January and February 2025 were their normal salaries after the various arrears that were paid from October to...
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OGUNJIMI APPOINTED AS THE NEW ACCOUNTANT GENERAL OF THE FEDERATION
Prince Jeffrey Adaralegbe, Nigeria Following a thorough selection process, President Bola Ahmed Tinubu has named Shamsedeen Babatunde Ogunjimi as the Federation’s new accountant general. Approved today, his appointment will begin on March 7, 2025, the day incumbent Oluwatoyin Madehin retires. Last December, Ogunjimi, 57, was initially announced as Madehin’s replacement. He was later selected by...
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REMITTA NOT DITCHED, TO BE INTEGRATED INTO TMRAS – OAGF
The Office of the Accountant General of the Federation (OAGF) has clarified that the Federal Government has not discarded Remitta as the Central Bank of Nigeria (CBN) approved payment gateway. The OAGF explained that Remitta would rather be integrated into the Treasury Management and Revenue Assurance (TMRAS) alongside other eligible Payment Solution Service Providers (PSSPs)...