Nigeria, through the Sultan of Sokoto, has officially announced that Eid al-Fitr 2026 will be observed on Friday, March 20, with details emerging.
Branches of commercial banks and other financial institutions across Nigeria, including Access Bank, UBA, Zenith, and GTB, will be closed on Thursday and Friday.
Federal government has introduced a 1% presumptive tax on informal businesses, exempting firms earning N12 million or less and banning cash tax collections.
CBN Governor Olayemi Cardoso says FX reforms narrowed the official-parallel dollar rate gap to under 2%, boosting naira stability, liquidity, investor confidence.
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Signature Bank Limited has increased its capital base to ₦52 billion, surpassing the ₦50 billion minimum requirement set by the Central Bank of Nigeria.
The naira gained against the dollar in the official market while Nigeria’s external reserves climbed above $50 billion, strengthening foreign exchange buffers.
The Naira appreciated to N1,366.23/USD amid improving forex activity, reflecting stability in Nigeria's market amid CBN reforms and stronger reserves.
Olayemi Cardoso says reforms by the Central Bank of Nigeria have strengthened confidence in the naira, easing fears of devaluation while improving transparency.
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