Economy

Nov
08
2025
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By Dairy News
CBN Sees Bank Recapitalisation as Key to Unlocking Nigeria’s $1 Trillion Economy

CBN Sees Bank Recapitalisation as Key to Unlocking Nigeria’s $1 Trillion Economy

Breaking, Business, Economy,
The Central Bank of Nigeria (CBN) has emphasized that the ongoing bank recapitalisation exercise is a strategic move to strengthen the country's financial system and position it to achieve its $1 trillion economic ambition by 2030. Speaking at a retreat in Abeokuta, Ogun State, CBN Deputy Governor Philip Ikeazor stated that the recapitalisation policy is designed to equip Nigerian banks to withstand shocks, expand credit to the real sector, and drive inclusive growth. Ikeazor noted that the exercise is a statement of resilience and ambition, aimed at building institutions that can finance infrastructure projects, support innovation, and promote sustainable growth.…
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Oct
26
2025
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By Dairy News
CBN Commits to Strengthening Reforms as Nigeria Exits FATF Grey List

CBN Commits to Strengthening Reforms as Nigeria Exits FATF Grey List

Breaking, Economy, Metro,
The Central Bank of Nigeria (CBN) has pledged to reinforce recent reforms in the financial system, emphasizing that compliance, innovation, and trust must advance together to enhance financial stability and bolster Nigeria’s global credibility. This commitment follows the Financial Action Task Force’s (FATF) formal announcement that Nigeria has been removed from its list of jurisdictions under increased monitoring, commonly known as the “grey list.” In a statement on Saturday, the CBN noted that this decision comes after a successful on-site evaluation of Nigeria’s frameworks for anti-money laundering and counter-terrorist financing, marking a significant milestone in the country's financial reform journey.…
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Oct
26
2025
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By Dairy News
CBN lists benefits of Nigeria exiting FATF Grey List

CBN lists benefits of Nigeria exiting FATF Grey List

Breaking, Economy, Metro, ,
The Nigeria Governors’ Forum (NGF) has expressed delight over the removal of Nigeria from the grey list of the Financial Action Task Force (FATF). NGF’s spokesman, Yunusa Abdullahi, in a statement on Saturday, quoted the forum’s Chairman and Kwara State Governor, AbdulRahman AbdulRazaq as attributing the feat to the efforts of President Bola Tinubu, the 36 state governors and relevant institutions. He quoted the NGF Chairman as saying: “We are very pleased with this outcome and proud to see Nigeria formally welcomed back into the global transparency community. “Nigeria has handled this difficult situation with enormous grace and integrity and…
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Sep
14
2024
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By Dairy News
Gov. Otti Invites Lagos Traders Back To Abia State, Promises Security & Business Growth

Gov. Otti Invites Lagos Traders Back To Abia State, Promises Security & Business Growth

Breaking, Economy, Metro,
Governor Alex Chioma Otti OFR has assured leaders and traders of Alaba International Markets, Oyinbo, Ladipo, and United Market Leaders and Traders Association of Nigeria of adequate security measures, a business-friendly atmosphere, and a conducive environment to invest and do business in Abia State. Through his Special Adviser on Trade, Commerce, and Industry, Chief Nwaka Inem, Governor Otti expressed his administration's readiness to create physical infrastructural development and facilities that will serve as a one-stop business hub for investors and traders. https://youtu.be/CqbjrbWDyEQ?si=yEE1qoPXkIG0kYR0 Chief Inem emphasized the state government's commitment to providing a conducive environment for businesses, highlighting initiatives such as…
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Sep
13
2024
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By Dairy News
President Faye Revolutionizes Transportation in Senegal with Africa’s First Electric Bus Rapid Transit System

President Faye Revolutionizes Transportation in Senegal with Africa’s First Electric Bus Rapid Transit System

Breaking, Economy, World News,
In a historic milestone, Senegalese President Bassirou Diomaye Diakhar Faye has launched the continent's inaugural electric bus rapid transit network in Dakar, the nation's capital. This groundbreaking project is set to transform the transportation landscape in Sub-Saharan Africa, boasting an impressive 23 stations, 3 hubs, and a daily capacity of 300,000 passengers across an 18.3 km route. The unveiling of this cutting-edge system not only elevates the quality of life for Dakar's residents but also creates over 1,000 new job opportunities, contributing to Senegal's economic growth. By embracing sustainable practices, President Faye demonstrates his commitment to modernizing Senegal's infrastructure and…
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