MURIC has criticised INEC over alleged incidents during the 2026 Osun governorship election and called for the removal of its chairman, Joash Amupitan.
The U.S. terminates Temporary Protected Status for Somalia and South Sudan, impacting thousands of immigrants facing uncertain futures and deportation risks.
Nigerian banks have begun deducting 7.5% VAT on card maintenance and selected electronic banking fees, while deposits and transfers remain exempt.
The naira weakened in the official market as dollar demand outpaced supply, while it stayed stable at GTBank’s FX desk and unchanged in the parallel market.
A report by Oxfam shows the global billionaire population rose to a record 3,000 in 2025, estimating that billionaires now control more than $3.5 trillion in wealth.
The CBN data show Nigerian banks charge up to 60% on loans while paying as little as 2.7% on savings, widening the gap between borrowers and depositors.
Elon Musk nears $800 billion as xAI's valuation skyrockets to $250 billion, while Nigerian billionaires, led by Aliko Dangote, reshape Africa's wealth landscape.
Nigerian banks recorded higher loan defaults in the fourth quarter of 2025, as high interest rates and weak incomes hurt borrowers’ ability to repay.
The combined net worth of the world’s top 10 billionaires has soared past $2.4 trillion in 2026, led by the richest man, Elon Musk, whose fortune is $714.2 billion.
Banks have begun deducting new charges, including 7.5% Value Added Tax on electronic service fees, prompting customers to express concern over rising costs.
The CBN is set to open Nigerian Treasury Bills worth about N1.15 trillion for investor subscription this week, as it continues to manage liquidity and borrowing.
Money
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