Business
Transactions On eNaira Platform Free For 90 Days -CBN
The Central Bank of Nigeria has said that all transactions conducted on the newly launched digital currency platform, eNaira will be free for 90 days.
The bank, however, stated that it will revert to its guide on applicable charges by banks and other financial and non-financial institutions at the end of the stated period.
The apex bank disclosed this in the framework titled, ‘eNaira Circular and Guidelines’ released on Monday.’
The PUNCH quoted the CBN as saying, “The charges for transactions that originate from the eNaira platform shall be free for the first 90 days commencing from October 25, 2021, and then revert to applicable charges as outlined in the Guide to Charges by Banks, Other Financial and Non-bank Financial Institutions.”
READ ALSO: How To Open e-Naira Wallet
The apex bank noted that Electronic Funds Transfer below N5,000 is charged N10; N5,001 – N50,000 is charged N25 and for above N50,000, a N50 charge is associated.
The bank also said phone numbers without verified National Identification Number (Tier 0) will have a daily transaction limit of N20,000, while the maximum that the account can hold is N120,000.
For phone numbers with verified NIN or Tier 1, CBN said they have a daily transaction cap of N50,000 and a maximum balance of N300,000.
Tier Two accounts will have access to a daily transaction of N200,000, while N500,000 is the maximum balance that can be held.
The Tier 3 account holder can transact a maximum of N1m daily, while the Maximum balance it can hold is N5m.
However, the CBN noted that merchant accounts have access to unlimited transactions.
According to the Bank, merchants are duly accredited individuals and non-individual (corporates) authorized to conduct business in Nigeria.
READ ALSO: JUST IN: Buhari Launches eNaira
Business
Naira Records Depreciation Against US Dollar Across Official, Black Markets
The naira depreciated against the dollar at the official and parallel foreign exchange markets on Monday to begin the new month on a bearish note.
Central Bank of Nigeria’s data showed that the Naira weakened to N1,448.44 on Monday, down from N1,446.74 traded on Friday last week.
READ ALSO:Naira Records First Depreciation Against US Dollar Across Official, Black FX Markets
This means that the naira dropped by N1.7 against the dollar on Monday when compared to Friday.
Similarly, at the black market, the Naira declined by N5 to N1,475 on Monday from N1,470 at the close of work last week.
The development comes as Nigeria’s foreign reserves stood at $44.61 billion as of November 27th, 2025.
Business
NNPCL Revenue, Profit Soar To N5.08tn, N447bn In October
The Nigerian National Petroleum Company Limited has announced a significant revenue increase to N5.078 trillion for October 2025.
The state-owned firm disclosed this in its monthly financial report released on Saturday.
According to the financial report, from N5.078 revenue in October, the company posted a N447 profit after tax.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
The figure represents a significant 19.2 percent increase in revenue from N4.26 trillion and a 106 percent rise in PAT from N216 billion in September 2025.
The report stated that from January to September, NNPCL paid N11.150 trillion in statutory payments to the federation.
Four days ago, NNPCL posted a total of N45.1 trillion as total revenue for the 2024 financial year.
Business
NNPCL Reveals Reason Behind N5.4trn Profit After Tax
The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has explained that the state-owned firm’s N5.4 trillion profit after tax declaration in its 2024 financial statements indicates that the country has begun to reap the benefits of the Petroleum Industry Act.
He made this explanation in an interview released on NNPCL’s X account on Friday.
Recall that NNPCL declared a significant N5.4 trillion PAT from a total revenue of N45.1 trillion in 2024.
READ ALSO:N5bn Damage: NNPCL Secures Appeal Court Victory Against Ararume
Reacting, Ojulari said the earnings result demonstrated the state-owned firm’s commitment to transparency.
“This earning is our first step in going out there to make ourselves more visible and demonstrate our commitment towards transparency. The profit of N5.4 trillion is quite significant. What that indicates is that we are beginning to reap the benefits of the Petroleum Industry Act.”
According to DAILY POST, since Ojulari’s appointment in April 2025, NNPCL has been consistent in making its monthly financial records public.
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