Echotitbits – Nigeria News

Category: Banking

  • CBN projects FX reserves could hit $51bn by 2026

    CBN projects FX reserves could hit $51bn by 2026

    2025-12-31 08:21:00

    Figures cited by PUNCH show the Central Bank of Nigeria expects external reserves to climb to about $51.04bn in 2026, up from a projected $45bn in 2025, based on assumptions about FX-market conditions and inflows.

    The forecast is tied to the CBN’s 2026 macro outlook, leaning on expectations of reduced pressure in the FX market, improved export earnings, and higher remittance inflows.

    CBN also points to refining capacity and broader reforms as potential tailwinds that reduce import pressure and support reserve accumulation over time.

    Validation: Channels Television said “The external reserves are projected at $51.04bn in 2026, compared with $45.01bn in 2025.” and The Guardian reported “external reserves… to rise to US$51.04 billion.”

    Echotitbits take: This projection is optimistic—and markets will judge credibility by liquidity and transparency. Watch the drivers: oil receipts, diaspora remittances, and whether FX spreads truly narrow across official and parallel windows.

    Source: The Punch — 31 December 2025 (https://punchng.com/fx-reserves-to-hit-51bn-by-2026-cbn/)

    The Punch 31 December 2025

    Photo Credit: The Punch

  • Banks begin N50 stamp-duty charge on transfers above N10,000 from Jan 1

    Banks begin N50 stamp-duty charge on transfers above N10,000 from Jan 1

    2025-12-31 08:07:00

    Reporting by Vanguard indicates Nigerian banks are notifying customers that a N50 stamp duty will apply to electronic transfers above N10,000 starting January 1, reflecting changes tied to the new tax framework.

    The key change, as communicated in customer notices, is that the levy is treated as payable by the sender for qualifying transfers—so customers may see the charge as a separate line item.

    For consumers and SMEs, the implication is straightforward: routine transfers that cross the threshold will carry a small additional cost, which can add up for high-frequency digital payments.

    Validation: Nairametrics said “Banks are set to begin charging customers N50 stamp duty on electronic transfers above N10,000 from January 1, 2026.” and TechCabal reported “Customers making electronic transfers above ₦10,000 will begin paying a ₦50 stamp duty from January 1, 2026.”

    Echotitbits take: This will test public tolerance for “small” transactional charges at scale. Watch for clarifications on exemptions, intra-bank transfers, and whether fintech rails apply the same way as traditional bank channels.

    Source: The Cable — 31 December 2025 (https://www.thecable.ng/banks-to-start-charging-senders-n50-stamp-duty-on-transfers-above-n10k-from-january/)

    The Cable 31 December 2025

    Photo Credit: The Cable

  • Court Sums Up Banking Tensions as CBN, NDIC Face Summons Over Licence Revocations

    Court Sums Up Banking Tensions as CBN, NDIC Face Summons Over Licence Revocations

    2025-12-30 18:00:00

    Reporting by The Nation indicates the dispute over the revoked operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc has moved deeper into court, with CBN and NDIC drawn into legal proceedings.

    The regulator’s action followed claims of financial distress and insolvency concerns, while NDIC began depositor verification and resolution steps as liquidator.

    The episode is significant for the mortgage-bank segment, where confidence is sensitive and depositor-protection messaging is crucial to preventing panic.

    The Guardian reported the CBN said the revocation “took effect on December 15, 2025,” citing relevant legal and regulatory provisions. Legit.ng reported that “the NDIC was appointed as liquidator,” and said depositor verification and payments were being initiated.

    Echotitbits take: The key risk is depositor confidence. If NDIC payouts are fast and communications clear, spillover stays limited; if not, rumours can spread quickly. Watch timelines for verification, payout caps, and any court orders affecting resolution steps.

    Source: The Nation — December 30, 2025 (https://thenationonlineng.net/justice-nwite-summons-cbn-ndic-over-revoked-licenses/)

    The Nation 2025-12-30

    Photo Credit: The Nation

  • FCMB–TLG Private Debt Fund Cleared to Raise ₦20bn in New Series

    FCMB–TLG Private Debt Fund Cleared to Raise ₦20bn in New Series

    2025-12-30 13:30:00

    According to Punch, FCMB Asset Management has received regulatory approval to issue up to ₦20bn under the FCMB‑TLG Private Debt Fund Series II, opening the door for a new fundraising cycle.

    The report said the approval moves the manager from documentation into rollout, targeting investors seeking structured private‑debt exposure in Nigeria’s tightening credit environment.

    Market participants see private debt funds gaining traction as investors balance yield goals with a preference for managed credit structures over direct lending.

    Nairametrics reported the same approval, describing the Series II clearance as “a significant milestone” for the fund’s strategy. TheCable also carried a company‑style update stating the manager “has received regulatory approval,” referencing the execution of transaction documents following the approval.

    Echotitbits take: Private debt is becoming a key middle lane between bank loans and public bonds. Watch the pricing terms, sector allocation, and whether the fund leans into ESG‑style screening or purely yield‑driven credit.

    Source: The Punch — December 30, 2025 (https://punchng.com/fcmb-tlg-private-debt-fund-gets-approval-for-series-ii-issuance/)

    The Punch 2025-12-30

    Photo Credit: The Punch

  • SEC flags ₦753bn commercial-paper surge as firms tap short-term funding

    SEC flags ₦753bn commercial-paper surge as firms tap short-term funding

    2025-12-29 09:00:00
    Reporting by The Nation indicates Nigeria’s capital-market regulator says companies raised over ₦753bn through commercial paper issuance within months, pointing to renewed appetite for short-term, non-bank funding as businesses cover working-capital needs.

    Commercial paper has increasingly become a bridge instrument for corporates facing tight credit conditions, higher borrowing costs and volatile cashflows, especially in manufacturing and supply chains.

    SEC leadership has tied the momentum to broader market-structure reforms, arguing that faster settlement and deeper participation can improve liquidity and reduce risk for investors.

    In effect, the regulator is projecting the surge as evidence of confidence in market plumbing and regulation, even as macro pressures remain.

    The Whistler quoted the SEC DG saying, “Commercial paper issuance remained vibrant, with over N753bn raised…,” while The Guardian quoted him on settlement reforms: “By shortening the settlement period, we have enhanced liquidity….”

    Echotitbits take: The key watch item is pricing and rollover risk. If firms keep issuing at very high yields, the market may be masking stress rather than solving it. Watch for defaults, delayed redemptions, and whether issuers shift to longer-dated bonds.

    Source: BusinessDay — https://businessday.ng/markets/article/nigeria-records-over-n753bn-commercial-paper-issuances-in-6-months/?amp – December 29, 2025
    BusinessDay 2025-12-29

    Photo Credit: BusinessDay

  • NIRSAL says 2025 credit guarantees crossed ₦100bn as banks expand agribusiness lending

    NIRSAL says 2025 credit guarantees crossed ₦100bn as banks expand agribusiness lending

    2025-12-29 09:00:00
    According to Punch, NIRSAL Plc says it is closing out 2025 with more than ₦100bn in approved credit guarantees for agriculture and agribusiness loans, positioning the guarantees as a de-risking tool that helps banks back projects they would normally avoid.

    The milestone is framed as part of a broader push to widen formal credit into farming, processing, logistics and market access—areas often constrained by price volatility, climate risk and weak collateral structures.

    The claim lands amid persistent concerns about food inflation and supply disruptions, where policymakers and lenders are searching for instruments that can crowd-in private capital rather than rely solely on direct public spending.

    The core message is that credit can scale faster when the risk is shared—especially for value-chain activities that are commercially viable but too risky for traditional underwriting.

    BusinessDay also reported the milestone, noting that NIRSAL “approved credit guarantees covering more than ₦100 billion… in 2025,” while The Guardian similarly wrote that NIRSAL “has closed 2025 with over ₦100 billion in approved credit guarantees.”

    Echotitbits take: If the guarantee pipeline is real and transparent, the next question is where the credit actually landed—by crop, region and borrower type—and what default ratios look like. Watch for independent portfolio data and sector-by-sector breakdowns.

    Source: BusinessDay — https://businessday.ng/news/article/nirsal-guarantees-record-%E2%82%A6100bn-in-agriculture-lending/#:~:text=The%20Nigeria%20Incentive%2DBased%20Risk,risk%2Dsharing%20tools%20to%20expand – December 29, 2025
    BusinessDay 2025-12-29

    Photo Credit: BusinessDay

  • FX reserves climb by $4.39bn in 12 months, CBN data shows

    FX reserves climb by $4.39bn in 12 months, CBN data shows

    2025-12-29 09:00:00
    Figures published by Punch indicate Nigeria’s external reserves rose by $4.39bn between December 23, 2024 and December 23, 2025, reaching about $45.24bn over the period, based on data sourced from the Central Bank of Nigeria.

    The rise adds to a late-2025 picture of stronger buffers, with other market trackers also placing Nigeria’s gross reserves above $45bn in December and describing it as a multi-year high.

    Beyond the headline number, the key question for businesses and households is whether the reserve build-up translates to steadier FX supply and narrower spreads across official and parallel channels.

    MoneyCentral reports that “Gross dollar reserves stood at $45.04 billion as at December 4, 2025,” citing CBN data, while TELL notes reserves “hit $45bn” in early December 2025.

    Echotitbits take: Reserves are a confidence barometer—but they can rise and still feel “tight” if FX demand stays hot. Watch whether the trend holds into Q1 2026 and whether gaps between rates meaningfully narrow.

    Source: The Punch — December 29, 2025 (https://punchng.com/fx-reserves-add-4-39bn-in-one-year/)
    The Punch 2025-12-29

    Photo Credit: The Punch

  • States and LGs cut bank exposure by ₦547.5bn as FAAC inflows rise

    States and LGs cut bank exposure by ₦547.5bn as FAAC inflows rise

    Photo Credit: The Punch
    2025-12-28 09:00:00

    Figures cited by Saturday PUNCH show states and local government councils reduced outstanding bank borrowings by about ₦547.5bn over one year, amid stronger statutory inflows.

    The report links the drop in bank claims to higher Federation Account distributions and the higher cost of borrowing under a tighter interest‑rate environment.

    TheStar.ng reported that “States and Local Government councils cut their outstanding bank loans by about N547.5bn in one year,” while TheConclaveNg cited CBN bulletin data that claims fell from “N2.68tn… to N2.13tn” by June 2025.

    Echotitbits take: Lower bank debt is good—but what replaces it matters. If states swap bank loans for short‑term contractor arrears or opaque “capital receipts,” the fiscal stress simply moves. Watch state debt transparency, DMO/CBN data and wage/contract arrears.

    Source: The Punch — December 27, 2025 (https://punchng.com/states-lgs-repay-n547-5bn-bank-debts/)

    The Punch  2025-12-27

  • Ground-handling mishap dents new Air Peace aircraft, sparking delays and calls for accountability

    Ground-handling mishap dents new Air Peace aircraft, sparking delays and calls for accountability

    Photo Credit: The Nation
    2025-12-27 07:01:00

    Reporting by The Nation indicates a ground-handling incident at the Lagos airport damaged a newly inducted Air Peace aircraft, forcing operational disruptions and knock-on delays for passengers.

    The incident involved ground equipment contacting the aircraft while passengers were already boarded, with the airline stressing that modern engine-area repairs can be extremely costly and time-consuming.

    Air Peace’s position is that such disruptions are not only a service failure to customers, but also a financial burden—especially when damage affects sensitive aircraft components and schedules across multiple routes.

    The episode adds to recurring tension in Nigeria’s aviation ecosystem: airlines want stricter accountability for handlers, while regulators face pressure to enforce safety and compensation standards.

    Punch corroborated the development, reporting that a “ground handling vehicle damaged a new Air Peace aircraft,” while Air Peace spokesman Mike Achimugu said, “a ground handler’s conveyor belt hit the aircraft, causing damage.”

    Echotitbits take:
    Expect sharper scrutiny of handler competence, equipment condition, and ramp safety rules at major airports. What to watch next: whether the responsible handler faces penalties, and whether Air Peace pursues claims that set a stronger precedent for industry liability.

    Source: The Nation — December 26, 2025 (https://thenationonlineng.net/ground-handling-equipment-damages-air-peaces-new-aircraft/)
    The Nation December 26, 2025

  • Budget review shows 20 states spent ₦494bn on debt service and foreign trips in nine months

    Budget review shows 20 states spent ₦494bn on debt service and foreign trips in nine months

    Photo Credit: The Punch
    2025-12-27 06:00:00

    Figures cited by Punch indicate an analysis of budget reports found 20 Nigerian states spent about ₦494bn on debt service and foreign travel within the first nine months of 2025.

    The report highlights how debt repayments can crowd out social and capital spending, while travel costs often become a lightning rod in public debates about austerity and value-for-money.

    Fiscal reform advocates argue that clearer procurement rules, public dashboards, and quarterly disclosures can help citizens track what travel delivers—training, investment, diplomacy—or whether it is simply overhead.

    Echotitbits take:
    The key question is opportunity cost: what didn’t get funded because debt service and travel consumed scarce resources? Watch for state-level transparency reforms, and whether assemblies demand sharper reporting on outcomes tied to trips.

    Source: The Punch — December 27, 2025 (https://punchng.com/foreign-trips-debt-service-gulp-n494bn-in-20-states/)
    The Punch December 27, 2025