Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, recorded a 36 per cent rise in its Profit Before Tax to N22.4bn for the third quarter ended September 30, 2025.

This was disclosed in a statement on Monday as the firm announced its unaudited results for the third quarter, which indicated a positive performance across key metrics.

In terms of revenue, the company delivered N72.31bn, a 49 per cent increase from N48.49bn in Q3 2024. Gross Profit Margin expanded to 76 per cent, up from 71 per cent in Q3 2024, which the firm said was driven by operational efficiency and superior service delivery.

Transcorp Hotels revealed that it had a future-ready growth strategy anchored on sustainability and innovation with the aim of unlocking value for shareholders. The recently commissioned 5,000-seat Transcorp Centre is fast positioning Nigeria as Africa’s hub for world-class meetings, incentives, conferences, and exhibitions.

Commenting on the company’s performance, the Chairman of Transcorp Hotels Plc, Emmanuel Nnorom, said, “This impressive Q3 performance underscores our time-tested strategy focused on cost discipline, operational efficiency, and putting the customer at the heart of everything we do. We remain committed to delivering sustainable profitability and long-term value for our investors.”

Managing Director/Chief Executive Officer of Transcorp Hotels Plc, Uzo Oshogwe, added, “Our Q3 2025 results reflect our unwavering drive for excellence and our commitment to redefining hospitality in Africa. With the success of our newly commissioned 5,000-seat event centre, we are proud to be positioning Nigeria as the preferred destination for global conferences and events, while scaling sustainable value for our shareholders.

“With its iconic hospitality assets and dedicated team, Transcorp Hotels continues to strengthen its leadership in the sector, setting new standards for growth, innovation, and service excellence.”

Meanwhile, Transcorp Hotels recently won triple honours at the Seven Star Luxury Awards, where the brand won Best Luxury Business Hotel (Nigeria & Africa), Best Luxury Event and Conference Centre (Nigeria & Africa) and Best CEO of the Year.

The Bank Customers Association of Nigeria has expressed support for the Central Bank of Nigeria’s draft exposure on the use of Automated Teller Machines, which proposed a 24–48-hour refund rule.

This was disclosed by the president of BCAN, Dr. Uju Ogubunka, in an exclusive chat with The PUNCH on Monday, where he noted that the faster refund period would make life easier for bank customers.

The CBN, in an exposed draft of guidelines on the operations of automated teller machines in Nigeria, seeks to enforce strict rules for transaction processing, reconciliation, and refund timelines for failed transactions (instant for “on-us” transactions, manual reversal within 24 hours, and within 48 hours for “not-on-us” transactions). The proposed guideline also sought to mandate specific security features, such as camera surveillance, anti-skimming devices, and physical security measures, while also ensuring accessibility and continuous service with limited downtime and proper maintenance.

Speaking on the faster fund reversal period, Ogubunka said, “I think the CBN makes a lot of sense. If I go to an ATM to withdraw money, and it’s not paid, and then you don’t refund me the money within one day, you are strangling me, because that may even be the last money I have in my account.  So, 24 hours is ideal, if you ask me, and 48 hours is even too much for other banks. But again, we can give up some kind of benefit of doubt to another bank and say, ‘Okay, if my own bank is taking 24 hours, let’s give them 48 or 36.’

“No customer would like their money to be hanging out there for more than that kind of length of time, especially if you have an important thing to do with that money at that point, that you need to get the money.

So, it makes a lot of sense, but I’m very sure that the banks will pick against that. They need some leverage of time to be able to sort themselves out. But whatever they do, I think CBN makes sense, and we will support the CBN position.”

On ATM downtimes, the proposed rule said, “All ATM deployers shall ensure that: a. The ATM downtime (due to a technical fault) shall not exceed 72 consecutive hours. Where this is not practicable, customers shall be duly informed by the deployer; b. Helpdesk contacts are adequately displayed at the ATM terminals. At the minimum, there should be a dedicated telephone line for reporting faults, and such telephone lines shall always be functional and manned.”

Ogubunka said, “I think that should depend on what the cause of the problem is. If you give 72 hours for a downtime ATM to be brought back to life, it appears you are suggesting that you have an idea what the problem may be, which I am not very sure anybody can just guess from the outside. But it is a good start. That will make banks face the issue squarely, instead of abandoning the ATM when it gets bad.

“Because the experience we have now is when an ATM gets bad, it may take weeks or months before they can take a look at it. It also means that we need to train more technicians who can handle some of these things, too. Because if the number of people who can handle the issue of broken-down ATMs is very few or limited, then the capacity to run around will just be very challenging. So, I think if it is a rule or a regulation, it makes sense to start from there, put pressure on the banks and let them do what is needful. That’s the position I hold.”

Providing an update on the letter that the association wrote to the apex bank over excessive bank charges, the former Registrar of the Chartered Institute of Bankers of Nigeria said the body was still waiting for a response from the CBN.

“We have written to CBN. There hasn’t been a response. We have also sent a reminder to CBN to see whether they can give us at least a response. But so far as I am speaking to you, there hasn’t been any. What we are writing to CBN is that we are telling CBN to stop the issue of excess charges because we believe it is possible with regulations and all of that.

“I don’t think any bank can justifiably say, “Oh, this is why we are excessively charging our customers.’ There are guidelines already; a guide to bank charges is there. So, if you follow the guide and use your computers to do that, and you have in-house human capacity, I don’t think you have any problem keeping to the regulation. But like I said, we have not got the feedback yet from CBN.”

He added that although some fintechs were already offering zero transfer charges, the commercial banks do not have to follow suit but should operate within the boundaries of the bank charges guideline.

“Even if they don’t want to give us those things free of charge, let them restrict themselves to what the guidelines have said they should charge. You understand? If the guidelines say charge me one naira, don’t go and charge me two naira, three naira, or five naira. Restrict yourself to the one naira, if you cannot even lower it yourself, to encourage your customers.

“The banks that have said, ‘Oh, we are no longer charging this; we are no longer charging that,’ are trying to encourage their customers to do more business with them. So, that’s the position we hold, and I believe that it’s not too extreme,” Ogubunka asserted.

Nigerians consumed a total of 613.62 million litres of Premium Motor Spirit, popularly known as petrol, for transportation, power generation, and other domestic uses between October 2024 and October 10, 2025,

This is according to fresh data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority obtained by our correspondent on Monday in Abuja.

Despite the ramp-up in operations at the Dangote Petroleum Refinery and other local plants, imported petrol still accounted for a larger share of the country’s total fuel supply during the period under review.

Out of the total 613.62 million litres of Premium Motor Spirit consumed between October 2024 and October 10, 2025, the NMDPRA data revealed that 236.08 million litres were supplied by domestic refineries, while 377.54 million litres came through imports.

The figures indicate that imported petrol still accounted for the bulk of Nigeria’s fuel needs within the period, with imports dominating supply, contributing about 63 per cent of Nigeria’s PMS needs.

While local refineries, led by the 650,000-barrels-per-day Dangote Refinery, provided the remaining 37 per cent, marking a significant improvement from the previous year’s levels.

The NMDPRA data further indicated that domestic production rose steadily from 9.62 million litres per day in October 2024 to 18.93 million litres per day by October 2025, showing a near 100 per cent increase within the one-year period.

Conversely, import volumes declined sharply from 46.38 million litres per day in October 2024 to 15.11 million litres per day in October 2025, reflecting a 67 per cent drop.

A monthly breakdown of the data revealed a steady decline in petrol importation and a gradual rise in local supply. Import volumes dropped from 46.38 million litres in October 2024 to 36.39 million litres in November and 38.90 million litres in December.

By January 2025, import figures had fallen further to 24.15 million litres, and though there were slight fluctuations in subsequent months – 26.79 million litres in February, 25.19 million litres in March, and 23.73 million litres in April – imports rebounded temporarily to 37.37 million litres in May.

Thereafter, volumes declined again, with 28.54 million litres imported in June, 35.07 million litres in July, 20.66 million litres in August, 19.26 million litres in September, and a year-low of 15.11 million litres as of October 10, 2025.

In contrast, domestic refining output showed notable improvement within the same period, rising from 9.62 million litres in October 2024 to 19.36 million litres in November and 13.13 million litres in December.

The upward trend continued into 2025, with local supply climbing to 22.66 million litres in January and 22.42 million litres in February and maintaining over 20 million litres in both March (20.65 million litres) and April (20.35 million litres).

Though there were minor dips to 17.85 million litres in May, 17.82 million litres in June, and 16.50 million litres in July, output surged again to 21.19 million litres in August before stabilising at 18.93 million litres in October 2025.

The figures reflect a gradual but significant shift in Nigeria’s fuel supply structure, with local refineries, particularly the Dangote Petroleum Refinery, steadily closing the gap on imports within just one year of operation.

The document further showed that total petrol supply averaged 46.6 million litres per day, comprising 29.5 million litres from imports and about 17.1 million litres from local production.

The reduction in petrol imports has also eased pressure on Nigeria’s foreign reserves, as the country spends less on importing refined products. Previously, importers required billions of dollars monthly to settle letters of credit and cover freight and insurance costs.

However, the report noted fluctuations in overall supply, with volumes dipping from 55.21 million litres in May 2025 to 34.04 million litres in October 2025, a sign that logistical constraints and periodic maintenance still affect consistent nationwide distribution.

Oil and gas analysts say the improvement coincides with the first full year of operations of the Dangote Refinery, which began large-scale production earlier in 2025 and now contributes between 15 and 20 million litres of PMS daily to the domestic market.

Since its commissioning in May 2023 and subsequent ramp-up through 2024, the Dangote Refinery has been under global scrutiny as the flagship of Nigeria’s industrial revival agenda.

In its first year of sustained operation, the refinery’s growing output has reshaped Nigeria’s fuel supply structure, reduced foreign exchange exposure, and rekindled confidence in local refining after decades of failed turnarounds at the government-owned Port Harcourt, Warri, and Kaduna refineries.

Commenting, the Chief Executive Officer of Petroleum.ng, Olatide Jeremiah, said that Nigeria’s domestic refining capacity has recorded remarkable progress in the past year, with the Dangote Refinery now supplying about 40 per cent of the country’s daily petrol consumption.

Speaking in reaction to new supply data released by the NMDPRA, the analyst said the progress underscores the growing impact of local refineries on Nigeria’s energy security.

He, however, stressed that the Dangote Refinery and other local refiners require uninterrupted access to crude oil in naira to scale up production and reduce pump prices nationwide.

“The fact that import remains the country’s major source of refined products shows that there are still unresolved issues. In the last year, domestic supply championed by Dangote Refinery has made tremendous progress with about 40 per cent of our daily consumption. Dangote Refinery needs 100 per cent access to crude in naira to increase domestic supply and drive down prices at the pump,” he said.

He lamented that despite being Africa’s biggest crude oil producer and host to the continent’s largest refinery, Nigeria still imports about 60 per cent of its daily petrol needs, a situation he described as inconsistent with the country’s energy potential.

The Petroleum.ng chief urged the Federal Government and the Nigerian Upstream Petroleum Regulatory Commission to strengthen policies that guarantee local refineries full access to domestic crude supply.

“Nigeria, the biggest producer of crude in Africa with the biggest refinery in Africa, should not be importing about 60% of its daily fuel consumption; thus, our pump prices should be amongst the lowest in the world.

Great Nigeria Insurance Plc has reversed the loss of N736m in 2022 to post a profit after tax worth N2bn at the end of 2023.

The financial performance of the insurance firm was disclosed at its 53rd Annual General Meeting held in Lagos recently.

Speaking on the floor of the AGM, the chairman of GNI, Bade Aluko, said that the company had reported a significant financial turnaround for the year 2023, driven largely by exceptional investment income and sector-wide resilience despite severe national economic conditions.

In the year under review, the firm transitioned to the International Financial Reporting Standard 17. The 2022 transiting figure for Insurance Revenue stood at N2.6bn, but it dropped in 2023 by 3.8 per cent to N2.5bn.

The Insurance Service Expense for 2023 stood at N2bn, rising from N1.5bn in the previous year.

In the current reporting year, the company’s Net Investment Income stood at N4.6bn, higher than N1.3bn, indicating a 254 per cent surge in Investment Income. Profit After Tax jumped to N2bn from a loss of N736m in 2022.

Net investment income was highlighted as a key driver of this success, with the report noting, “In the current reporting year, the company’s Net Investment Income stood at N4.6bn as against the 2022 figure, which was N1.9bn.”

The chairman acknowledged the broader macroeconomic context, saying, “Our organisation gallantly thrived through the avalanche of economic woes that swept businesses globally and locally since the unfortunate throes of the pandemic and the Russia/Ukraine war. The ripple effects of the pandemic from 2019, regurgitating all through into 2023, and the harsh economic realities in Nigeria stemming from the reforms of the current administration may have had smattering effects on our operations, but, as has been reflected in our books, we have emerged profitable regardless.”

Looking ahead, Aluko outlined the powerful forces expected to shape the future of the Nigerian insurance industry.

He said, “The future of Nigeria’s insurance industry will likely be shaped by four powerful forces: regulatory upgrades (like IFRS 17), economic reforms, technology adoption, creating both challenges and big opportunities, and the newly signed Nigerian Insurance Industry Reform Act 2025.

“It is expected that IFRS 17 will change the dynamics of insurance performance reporting going forward. The takeaway will be greater transparency and investor confidence. By standardising key assurance measures and reporting performance, IFRS 17 should boost investor trust, attract foreign capital, and help the market compare companies more easily,” he observed.

On NIIRA 2025, the chairman said, “The newly signed NIIRA 2025 has several radical reforms that are mainly targeted at boosting confidence and trust in the insurance industry in Nigeria and ultimately gaining geometrical penetration if keenly executed.” The act “also provided a robust system that will guarantee the financial safety of the insured in case of insolvency while creating a formidable bulwark against insolvency for the insurer.”

He maintained that despite the positive reforms, the industry continues to face significant headwinds stemming from the broader economy: “There are still challenges that could slow growth in the near future if not properly and timely mitigated presently.”

Aluko reassured the shareholders that GNI was committed to sustaining resilience in the face of the market dynamics.

“Great Nigeria Insurance Plc. remains committed to a rigorous pursuit of excellence in our operations as an insurance company. We have maintained a rare display of courage and resilience thus far, and we will continue to give it all it takes to ensure we keep thriving in all our business expressions,” he concluded.

GNI is undergoing a mandatory takeover by Insurance Resourcery and Consultancy Services Limited. Under this arrangement, the company will acquire 500,000,000 ordinary shares in Great Nigeria Insurance Plc at N1.30 per share in accordance with the provisions of Part XII Section 143 (2) of the Investments and Securities Act 2025.

The Nigerian Exchange Limited closed last week on a positive note as investors gained N1.27tn, pushing the market capitalisation to N94.56tn. The All-Share Index rose by 1.35 per cent to 148,977.64 points, driven largely by gains in financial stocks, Temitope Aina writes

The Nigerian Exchange Limited recorded a significant rebound in trading activities last week, as investors gained about N1.27tn in market value, driven largely by strong demand for financial stocks and renewed investor confidence across key sectors.

At the close of trading on Friday, the All-Share Index and market capitalisation appreciated by 1.35 per cent and 1.36 per cent to settle at 148,977.64 points and N94.561tn, respectively, compared to the previous week’s 146,998.63 points and N93.291tn.

Market data from the Exchange showed that a total turnover of 2.422bn shares worth N76.618bn was traded in 126,591 deals during the week, as against 2.286bn shares valued at N90.280bn exchanged in 138,177 deals the previous week.

The Financial Services Industry (measured by volume) dominated the activity chart, accounting for 1.662bn shares valued at N32.565bn traded in 56,253 deals. This represented 68.65 per cent and 42.50 per cent of the total equity turnover volume and value, respectively.

Following closely was the ICT industry, which recorded 184.884m shares worth N8.662bn in 11,500 deals, while the services industry occupied the third position with 154.537m shares valued at N1.066bn exchanged in 5,975 deals.

Trading in the top three equities, Consolidated Hallmark Holdings Plc, Fidelity Bank Plc, and Access Holdings Plc, accounted for 618.549m shares valued at N9.220bn in 9,277 deals, contributing 25.54 per cent and 12.03 per cent to the total equity turnover volume and value, respectively.

Also, a total of 202,526 units of Exchange Traded Products valued at N24.917m were traded this week in 556 deals, in contrast to 147,745 units valued at N24.075m transacted last week in 372 deals.

Similarly, investors traded a total of 448,601 units of bonds valued at N381.846m in 46 deals, compared to 984,209 units worth N883.357m traded in 28 deals in the preceding week.

A review of the sectoral performance indicated that all other indices finished higher with the exception of the Consumer Goods, Banking, AFR Bank Value, AFR Div Yield, MERI Growth, NGX MERI Value, and Growth Indices, which declined 0.19 per cent, 0.13 per cent, 0.51 per cent, 0.93 per cent, 0.97 per cent, 0.68 per cent, and 2.08 per cent, respectively.

Market breadth closed positive, with 52 equities appreciating in price during the week, higher than the 51 equities recorded in the previous week. 41 equities depreciated, the same number as in the previous week, while 53 equities remained unchanged, lower than the 55 equities recorded earlier.

According to data released by the Exchange, Sovereign Trust Insurance Plc emerged as the week’s top gainer, rising 11.21 per cent from N3.21 per share to close at N3.57 per share. The company was followed by Royal Exchange Plc, which appreciated 11.11 per cent, moving from N2.16 to N2.40 per share.

Eunisell Interlinked Plc also saw significant investor interest, gaining 10 per cent to close the week at N48.40 per share from N44.00, while SFS Real Estate Investment Trust rose 9.88 per cent to close at N418.75 from N381.10.

Omatek Ventures Plc appreciated 9.49 per cent, rising from N1.37 to N1.50 per share, while Transcorp Power Plc climbed 8.92 per cent, closing at N342.00 per share compared to N314.00 at the start of the week.

Stanbic IBTC Holdings Plc gained 8.26 per cent to close at N118.00 from N109.00, while Universal Insurance Plc advanced by 8.11 per cent, moving from N1.11 to N1.20 per share.

Vitafoam Nigeria Plc appreciated 7.41 per cent to close the week at N87.00 per share, up from N81.00, while Prestige Assurance Plc rounded off the list of top ten gainers with a 6.51 per cent increase, closing at N1.80 per share compared to N1.69 at the beginning of the week.

On the flip side, Tripple Gee and Company Plc led the decliners’ chart, shedding 18.84 per cent to close at N4.91 per share from N6.05. Academy Press Plc followed closely, losing 17.92 per cent to close at N7.88 per share, down from N9.60, after marking an ex-dividend of 15 kobo per share and a one-for-five bonus.

Regency Assurance Plc also recorded a loss of 13.94 per cent, closing at N1.42 per share from N1.65, while LivingTrust Mortgage Bank Plc declined 13.46 per cent to N4.50 from N5.20 per share.

Industrial & Medical Gases Nigeria Plc dropped 9.87 per cent to close at N32.40 per share from N35.95, and Sunu Assurances Nigeria Plc depreciated 9.01 per cent to N5.25 per share from N5.77.

UAC of Nigeria Plc also posted a decline of 8.53 per cent, falling from N72.70 to N66.50 per share, while Austin Laz & Company Plc shed 7.94 per cent to close at N2.90 from N3.15.

Ellah Lakes Plc lost 7.20 per cent to close at N13.40 per share from N14.44, while Chams Holding Company Plc completed the list of top decliners with a 6.98 per cent drop, closing at N4.00 per share from N4.30.

Meanwhile, the Exchange also announced regulatory updates, including the delisting of Smart Products Nigeria Plc and the migration of Juli Plc to the Growth Board. According to a market bulletin referenced NGXREG/IRD/MB76/25/10/08, the delisting of Smart Products followed its failure to meet the required criteria for migration after the closure of the ASEM Board, while Juli Plc successfully transitioned to the Growth Board effective Monday, October 13, 2025.

Last week’s market performance, analysts noted, reflected growing investor appetite for financial sector equities amid expectations of improved third-quarter earnings results and moderate inflationary pressures. They added that the N1.27tn rise in market capitalisation signals renewed optimism as investors position for dividend yields and possible policy stability ahead of the year-end trading season.

The Securities and Exchange Commisison has urged stockbrokers to uphold the highest level of professionalism and ethical conduct at all times in a bid to ensure a fair and transparent market.

Director General of the SEC, Dr. Emomotimi Agama who stated this weekend during the 29th annual conference of the Chartered Institute of Stockbrokers in Abuja, said investors must have full confidence that the intermediaries who manage their wealth are guided by the highest standards of honesty and competence.

Agama said the theme of this year’s conference: “Capital Markets in a Digital, Ethical, Sustainable Era: Pathways for Economic Transformation” is timely as it speaks directly to the global transition where technology drives innovation, where ethics anchor trust, and where sustainability defines the future of finance.

“These three dimensions—digitalization, ethics, and sustainability—are not separate pillars; they form the foundation of a modern, inclusive, and resilient capital markets.

“Across the world, capital markets are being reshaped by technological innovation. The digital era has introduced new possibilities—from online trading platforms and digital assets to data analytics, blockchain, and artificial intelligence. These innovations are changing how we raise capital, how we invest, and how we supervise.

The SEC Boss stated that the Commission has embraced this transformation as an opportunity to enhance efficiency, transparency, and investor protection adding that ongoing efforts to strengthen market surveillance systems, automate regulatory processes, and introduce risk-based supervision frameworks are all aimed at positioning the Nigerian capital market for the realities of a digital economy.

He said, “We are also actively engaging with stakeholders: including the Chartered Institute of Stockbrokers, to deepen digital literacy and capacity-building across the market. As technology evolves, so must our skills, our ethics, and our shared commitment to fairness and professionalism.

“No amount of innovation can replace the foundational importance of ethics. A truly transformative capital market must be builton integrity, transparency, and accountability.

He said the CIS has remained a key partner in this regard, setting professional standards and upholding the code of ethics that define the stockbroking profession.

“As regulators, we continue to emphasize that professionalism and ethical conduct are non-negotiable. Investors must have full confidence that the intermediaries who manage their wealth are guided by the highest standards of honesty and competence.

“Together, the SEC and the CIS must continue to strengthen ethics education, continuous professional development, and disciplinary frameworks to ensure that the market remains a place of trust”. He added.

The Central Bank of Nigeria and the Bank of Angola have signed a Memorandum of Understanding to strengthen bilateral cooperation, promote knowledge sharing, and enhance capacity building across both central banks.

The agreement, sealed on Thursday on the sidelines of the ongoing International Monetary Fund and World Bank Annual Meetings in Lima, Peru, was signed by the CBN Governor, Olayemi Cardoso, and his Angolan counterpart, Manuel Antonio Tiago Dias.

The pact, officials said, marks a new phase of collaboration between the two institutions and reflects a broader push for regional financial stability across Africa.

Speaking at the ceremony, which was moderated by the CBN Deputy Governor (Economic Policy), Mohammed Abdullahi, and attended by senior officials of both banks, Cardoso described the MoU as a “timely and significant milestone” in strengthening inter-African cooperation in central banking.

“This forum brings together a multiplicity of stakeholders and interests from across the globe, and what we’ve done today highlights the spirit of cooperation that defines these annual meetings.

“The agreement provides us an opportunity to build a more interconnected and resilient African financial system capable of withstanding external shocks,” a statement issued by the apex bank on Friday stated.

The CBN boss explained that the collaboration aligns with Nigeria’s strategic goal of promoting regional stability, supporting cross-border financial integration, and enhancing institutional resilience within Africa’s monetary landscape.

Providing further details, Abdullahi said the MoU establishes a structured framework for both central banks to exchange technical expertise, regulatory information, and supervisory best practices.

He listed key areas of cooperation, including foreign reserve management, currency operations, monetary policy coordination, payment systems, and cybersecurity.

Other areas covered by the pact include anti-money laundering and counter-terrorism financing, as well as staff training and the development of financial statistics and research capacity.

“This cooperation will strengthen our collective ability to manage systemic risks, enhance transparency, and promote financial stability in our respective countries,” Abdullahi said.

He added that the framework would also support oversight of cross-border financial institutions, a growing priority as African economies become more interconnected through trade and financial services.

In his remarks, the Governor of the Bank of Angola welcomed the collaboration, describing it as a “strategic partnership that will help both nations deepen financial integration and institutional reform.”

“Nigeria and Angola share similar macroeconomic aspirations, maintaining stability, fostering financial inclusion, and modernising our payment systems. This MoU allows us to work together toward these common goals,” he said.

Dias noted that the pact also aligns with ongoing efforts by African central banks to strengthen intra-continental collaboration in line with the objectives of the African Continental Free Trade Area and regional economic integration initiatives.

The agreement comes at a time when African economies are stepping up coordination on monetary policy, digital payments, and anti-money laundering frameworks, amid growing regional financial flows and exposure to global economic shocks.

It also underscores Nigeria’s renewed diplomatic and economic outreach within Africa under the administration of President Bola Tinubu, which prioritises financial sector reforms, regional partnerships, and macroeconomic stability.

The CBN, under Cardoso’s leadership, has recently engaged in a series of policy realignments aimed at restoring confidence in Nigeria’s foreign exchange market and strengthening regulatory oversight.

The latest partnership with Angola is therefore seen as part of a broader effort to reinforce Africa-led solutions to Africa’s financial challenges, especially in areas such as liquidity management, digital finance, and banking supervision.