NDIC begins paying insured deposits to customers of 46 revoked microfinance banksEligible depositors receive maximum insured amount of N2 million directly via BVNsCBN revoked licenses to protect depositors and ensure banking stability amid regulatory non-complianceFind it fast with our new search feature at Legit.ng! P…

By Elizabeth Adegbesan The Central Bank of Nigeria (CBN) has revealed a significant expansion in the country’s financial system, with credit to the private sector rising by 2.8 percent month-on-month to N83.3 trillion in June 2026, up from the N81 trillion recorded in May 2026. However, the apex bank disclosed that cre…

…of power sector crimes, ” the statement said. Nigeria’s power sector loses billions of naira annually to energy theft and infrastructure vandalism, destruction of power lines and transformers, leading to frequent national grid collapses and poor power supply.

…by Vanguard showed that crude oil supply to the refinery under the Federal Government’s naira-for-crude arrangement has declined sharply, compelling the refinery to source a larger share of its feedstock from the international market. The investigation also revealed that although the refinery continues to sell petroleu…

…the fire broke out at approximately 5:30 AM, destroying properties worth millions of Naira. While the male resident managed to escape the burning structure unharmed, the woman was trapped inside and suffered fatal burns. ''If you have a friend or relative who went clubbing in Uyo last night and has not returned home, p…

…and Financial Crimes Commission has secured the conviction of 12 individuals for naira abuse before the Federal High Court in Warri, Delta State. The EFCC disclosed in a statement posted on its X handle on Tuesday that Justice Hyeladzira Nganjiwa convicted the defendants after they pleaded guilty to charges of tamperin…

…2026 at about 2151hrs from phone number 09079401479, demanding the sum of Ten Million Naira (N10,000,000.00) and ordering him to relocate or risk being k!lled," the statement read. "Upon receipt of the complaint, detectives immediately commenced a technically driven, intelligence-led investigation, which resulted in th…

The naira appreciated at the official foreign exchange market on Monday ahead of the Central Bank of Nigeria’s, CBN Monetary Policy Committee, MPC, interest rate decision. CBN data showed that the naira gained slightly to N1,380.10 per dollar on Monday from N1,380.18 per dollar recorded last Friday. This means that at…

…should face sanctions instead of wholesale demolition of investments worth billions of naira. The real estate investor proposed the establishment of an independent compensation fund jointly managed by the Federal Government, Lagos State Government and industry stakeholders to address losses arising from the coastal hig…

…it is important to note that, following the reforms and the depreciation of the naira, the foreign currency component of our public debt had to be revalued because Nigeria reports its debt in naira. That accounting adjustment alone added more than ₦40 trillion to the public debt figure.” The minister added that the sec…

…calls for urgent reassessment of fuel import licences to prevent further price hikes and naira pressureFind it fast with our new search feature at Legit.ng! Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.The latest market survey shows tha…

…has accused President Bola Tinubu of using the 2026 federal budget to bury trillions of naira in unaccountable spending, pointing to a dramatic surge in the Service-Wide Vote SWV that he says the government must now explain. The presidential candidate of the African Democratic Congress ADC said the SWV, a discretionary…

…irregularities in the 2026 budget process, particularly the allocation of over a billion naira to an agency that the government claimed does not exist.

…service. In ten years on current trends, both exam bodies would rake in about a trillion naira for conducting qualifying examinations for our kids. For me, that is morally unjustifiable. Yet it is on top of these billions that the two bodies want an increase of 82 per cent. Yes, it is true that conducting examinations…

…for the charge of offensive conduct) and also awarded the sum of five million naira compensation to the victim against the defendant. by Linda Ikeji at 19/07/2026 10:03 PM | Share this Story

…Yes, the average Nigerian has not benefited from the CNG initiative. I think a crude-for-naira product arrangement between the federal government and the refinery would have helped to ease pressure on Nigerians. As Nigeria, as the economy recovers from the crisis, I think there should be an intervention for Nigerians.…

…visa fees are in US dollars, while the amounts have also been converted to Nigerian naira for easy understandingFind it fast with our new search feature at Legit.ng! Ghana has announced the cost of some of its visa types to help travellers around the world who wish to engage in work, business, tourism, or other activit…

…has celebrated a major achievement as she unveiled her new mansion worth millions of naira.The young former Queen took to her Instagram page to share a video of the house, expressing gratitude for the journey that led her to this point. Queen Ola's latest announcement sparks reactions from Mercy Aigbe, others. >She des…

…projects outside agencies’ statutory mandates and insertions running into billions of naira. The former vice president also cited the Nigerian National Petroleum Corporation NNPC Limited’s audited 2024 financial statements, which he said showed ₦7.13 trillion spent on “Energy Security Expenses” — what NNPC itself ident…

The CBN has issued new regulatory guidance directing BDC operators on how they must handle foreign exchange purchased through the NFEMThe apex bank warned that BDCs holding onto unutilised FX beyond the approved utilisation period risk forfeiture and suspension of market accessThe apex bank also launched a centralised …

…and operated for nearly two hours, attacking several houses and carting away millions of naira, phones and other valuables before fleeing around 3 a.m. A resident, Adekunle Olamide, who spoke to Vanguard in Ikorodu, said the robbers invaded about seven houses during the operation. According to him, one of the victims,…

The Naira on Friday continued appreciating against the United States dollar at the official foreign exchange market to end the week on a good note. The Central Bank of Nigeria’s data showed that the Naira strengthened further on Friday to N1,380.19 per dollar from N1,381.53 exchanged on Thursday. This means that the Na…

…people have reportedly been confirmed dead, while houses and property worth millions of naira were destroyed in Nguru Local Government Area of Yobe State. The disaster, which occurred overnight, affected Tsohon Nguru (Old Nguru), Filing Idi and other communities, leaving several residents injured and hundreds displaced…

…436, 000. 00 (One Hundred and Thirty-six Million, Four Hundred and Thirty-six Thousand Naira). Count one of the charges read"Godwin Sunday Ajuluchukwucheya, sometimes between 2023 to February 2025 in Enugu, Enugu State within the jurisdiction of the Enugu State High Court with intent to defraud, obtained the sum of N13…

…that reforms introduced in 2023, including scrapping a fuel subsidy and liberalising the naira, applauded by lenders and investors, are translating into broader gains for Nigerians after driving up inflation and living costs. Recall that the International Monetary Fund (IMF) said in June that ‘ the reforms were improvi…