Stock Market Value is Down by N622 billion.
Due to stock declines in several banking and telecom firms, investors lost N622 billion at the conclusion of trade. Moreover,…
Month: March 2023
Bank Credit to the Government Reaches N28.43 trillion
In the first two months of 2023, banks’ credits to the government increased by N3.77 trillion. According to data acquired…
Nigerians in Diaspora Fear that Hardship may Cause Remittances to Decline.
According to the research, the country received an estimated $21 billion in remittances, making it the largest recipient market in…
Egg Glut: Poultry Farmers Want Government Assistance
Lagos’ poultry farmers have complained about the market’s oversupply of eggs and asked the government to take the surplus off…
Emefiele Begs NLC to Halt the Protest over the Naira Shortage.
Godwin Emefiele, the governor of the Central Bank of Nigeria, appealed to Chris Ngige, the minister of labor and employment,…
Nigerian Banks will Increase the Individual Cash Withdrawal Cap to N100,000
According to some bank executives, commercial banks are planning to increase their cash withdrawal limits from the present N20,000–N50,000 range…
NNPC Releases 418 million More liters of Gasoline.
Even while the year-to-date daily average maintained at 64.94 million litres over the time period, the data revealed that 59…
Afreximbank, NEXIM, and FG Sign a $350,000 Agreement to Improve Water Transportation.
The Federal Ministry of Transportation, the Nigerian Navy, the African Export-Import Bank (Afreximbank), and the Nigerian Export-Import Bank (NEXIM) have…
Nigeria’s Money Supply Reaches N53tn in February 2023.
The amount of money in circulation in Nigeria increased to N53.3 trillion from N52.2 trillion at the start of the…
Mobile Subscriptions Increased to 226 million.
According to the Nigerian Communications Commission’s most recent industry figures, mobile subscriptions increased by 4.61 million to reach 226.84 million…
Infinity Power Acquires Lekela Power in Africa’s Biggest Renewable Energy Deal
The acquisition of the whole stake in Africa’s wind power platform Lekela Power has been finalized by Infinity Power, a…
ALCB Fund Purchases a Portion of the SOLEA Bond Issuance
The ALCB Fund contributed XOF 2 billion (USD 3.3 million) to the XOF 4 billion (USD 6.6 million) bond sale…
Maia Capital Pledges R100 million to Increase Financial Inclusion for Low-to-Middle Income People.
The low-to-middle income people in South Africa will now have better access to financial products, helping to reduce the country’s…
IBL Group-Led Partnership To Acquire Majority Interest In Equator Energy
Among its most recent initiatives are the sale of a majority share in Equator Energy Ltd. by Maris Ltd. and…
I&M Receives Sh457 million as Dividend from a Mauritius Subsidiary.
As a result of the unit’s increased financial performance over the time, I&M Group received a dividend from Bank One,…
A Weekly Reduction in Natural Gas Prices is Anticipated.
The price of natural gas was trading up to $2.191 (+1.81%), however prices are falling week over week.The price of…
Savannah has Threatened to Sue in Response to the Planned Nationalization of Chad’s Assets.
Savannah Energy has said that it will legally contest Chad’s intentions to seize its assets. The Republic of Chad’s conduct,…
NGX Plans to Introduce Non-depository Receipts to Expand its Market.
The NDR would open up financial products traded on an offshore market to the investing public and provide investors access…
NPC Requests Nigerian Involvement and Pledges a Reliable Census
Nasir Kwarra, the chairman of the National Population Commission, has urged Nigerians to volunteer to be counted during the next…
FCMB Initiates a N300 billion Capital Raise.
After the first tranche of the multi-tranche program was successfully completed, FCMB Group Plc, the parent company for First City…
Zenith Bank CEO is Honored by UNN
Ebenezer Onyeagwu, group managing director and chief executive officer of Zenith Bank Plc, received a doctorate in business administration from…
Foreign Reserves Decline by $1.43bn in Ten Weeks.
Experts concurred that the CBN’s approach to currency management was the primary cause of Nigeria’s precarious position in its foreign…
Review the Cashless Policy, Small Business Owners Urge FG
The Central Bank of Nigeria has been requested to examine its cashless policy by small company owners operating under the…
Osun Seeks for Potential in AfDB’s $618 million Tech Fund
Ademola Adeleke, the governor of Osun State, stated his administration’s willingness to work with the African Development Bank and take…
Costs Rise as Foreign Airlines Increase the Currency Rate.
Over $743 million in stranded cash were being used by international airlines coming into Nigeria as of January this year.…
Auto Manufacturer Laments Industry Difficulties
Diana Chen, the chairman of CIG Motors Co Limited, stated that insecurity and an unstable electrical supply were two challenges…
Naira Scarcity: Crowds Overflow Banking Halls as Branches Ration Cash
Kwara branches are cashless. The CBN “order” was not followed, according to bank managers in Ilorin, the capital of Kwara…
NNPCL Projects N674bn in Yearly Profit After PIA
The Nigerian National Petroleum Corporation Limited forecasted on Thursday that its profit for the 2022 fiscal year will exceed N674…
Reps Inform CBN that Banks Should Update their E-banking Platforms.
The Nigerian Central Bank has been urged by the House of Representatives to order banks to urgently update their electronic…
Firms Make Commitments to Address the Housing Shortage
Chateau-Royal Real Estate Ltd, a real estate company, has promised to use technology to address the housing problem. The company…