AGP Executive Report
Last update: 3 minutes agoCBN Terror Sanctions: The Central Bank of Nigeria ordered banks and other financial institutions to immediately freeze accounts, assets and transactions linked to six terrorism-financing suspects and four BDC operators, following updated Nigeria Sanctions List designations tied to US OFAC action. FX and Cost Pressure: The naira slid to about N1,389/$ at the official market in its biggest daily fall since April, while fuel prices stayed high—diesel rose to about N3,277/litre—adding pressure to transport and manufacturing costs. Trade and Payments: Nigeria and the Philippines’ bilateral trade jumped 700% to $300m in three years, and the FG is pushing a pan-African payment card to cut dollar dependence by enabling direct settlement between African currencies. Mining Push: Kaduna’s “world-class” polymetallic discovery—platinum group metals, gold, nickel, copper, lithium and rare earths—was unveiled, alongside plans to unlock $750bn mineral wealth via EMERGE. Security and Governance: Senate passage of the state police bill gained momentum, while Customs seized N273.6m contraband in Cross River/Akwa Ibom. Business Signals: JAIZ Bank reported 24% profit growth in 2025, as manufacturers warn credit access is shrinking and threatens industrial expansion.
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