Crude Oil Reaches $84/Barrel, Fueling Speculations of Petrol Price Hike in Nigeria
Brent crude oil, the international benchmark, surged to $84/barrel on Wednesday, raising concerns about a possible…
Yearly Archives
2023
High Demand for Risk-Free Investments Despite Negative Real Returns in Nigeria
Investors bid N384 billion worth of one-year treasury bills at a rate of 12.15%, but only N255 billion was…
Nigeria’s Debt Management Office Foresees Revenue Improvements Amidst Policy…
Nigeria's Debt Management Office (DMO) expects improvements in government revenues through the work of the…
Central Bank of Nigeria Reiterates Plan to Phase Out Old Currency Notes Gradually
The Central Bank of Nigeria (CBN) has restated its commitment to gradually replace the old N200, N500, and N1,000…
IMF Projects Decline in Nigeria’s Economic Growth due to Oil Sector Security…
The International Monetary Fund (IMF) has forecasted a decline in Nigeria's economic growth in 2023 and 2024,…
SAHCO Plc Reports Impressive Q2 2023 Performance with 215.60% Pre-tax Profit Surge
Skyway Aviation Handling Company (SAHCO) Plc's Q2 2023 unaudited results show a remarkable 215.60% increase in…
Global Survey Reveals Limited Support and Understanding for Central Bank Digital…
A survey by the CFA Institute, a global association for finance professionals, indicates that only 42% of…
Central Bank of Nigeria Raises Benchmark Interest Rate to 18.75% Amidst…
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to increase the benchmark…
FCCPC Cautions PoS Operators Against Price-Fixing Amidst Indiscriminate Charge…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a warning to point of sales (PoS)…
Experts Call for Government Interventions to Foster Technology Growth in Nigeria
During the 17th Annual Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL)…
Nigeria’s Tin Can Island Port Command Reports 110.8% Growth in Non-Oil…
The Tin Can Island Port Command of the Nigeria Customs Service (NCS) has achieved remarkable growth in non-oil…
Nigeria’s Excess Crude Account Stagnant at $474m Despite Remittance of…
The Excess Crude Account (ECA) in Nigeria has remained stagnant at approximately $474 million over the past two…
Nigerian House of Representatives Launches Investigation into $9.05 Billion…
The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has initiated an Ad hoc Committee to conduct a…
Nigerian National Petroleum Company Clarifies N1.3tn Debt Status
The Nigerian National Petroleum Company Limited (NNPCL) clarified that the outstanding N1.3tn debt owed by the…
Unilever Nigeria’s Q2 Profits Plummet Amid Rising Costs
Unaudited results for Q2 2023 show Unilever Nigeria's pre-tax profits fell by 72.95% to N169.9 million, with an…
Nigerian Government Earns N80.86bn from Electronic Transfer Levies in Six Months
Data from the Federation Account Allocation Committee shows that electronic transfer levies generated N80.86…
Nigeria Data Protection Commission Urges Organizations to Register for Data…
The Nigeria Data Protection Commission (NDPC) has directed banks, telecom operators, educational institutions,…
Nigeria’s Money Supply Surges to Record N64.36 Trillion Amid Increased FAAC…
The money supply in Nigeria, known as M2, has reached an unprecedented N64.36 trillion, surging by 31.62%…
FBN Holdings Announces Plan to Raise Capital Through Rights Issue
FBN Holdings Plc, a financial services group, will seek approval from shareholders to raise fresh capital at its…
Investors Speculate Ahead of Central Bank of Nigeria’s Monetary Policy…
Investors are closely watching the upcoming meeting of the Central Bank of Nigeria (CBN) Monetary Policy Committee…
NAICOM to Encourage Specialized Insurance Products for Nigeria’s Oil and Gas…
The Nigerian Insurance Commission (NAICOM) has revealed its plans to promote specialized insurance products…
eTranzact Records Over N50 Trillion Transactions in 2022, Assures Shareholders of…
eTranzact International Plc achieved remarkable financial growth in 2022, processing transactions worth over N50…
Nigeria Plans to Reduce Revenue Collection Agencies and Simplify Tax System
The Nigerian Organised Private Sector has raised concerns about the burden of multiple taxation from various…
British International Investment Joins SDG Outcomes Fund with $10 Million…
British International Investment (BII), the UK's development finance institution and impact investor, has pledged…
Norfund Invests in Plastic Recycling Initiatives in Nigeria and Ghana
Norfund, a Norwegian investment fund, is making its first direct investments in plastic recycling in Africa by…
African Development Bank Approves US$20 Million Investment in Pembani Remgro…
The African Development Bank's Board of Directors has sanctioned a US$20 million investment in the Pembani Remgro…
Globeleq Expands Renewable Portfolio in Africa with Acquisition of Mocuba Solar…
Globeleq, the leading independent power company in Africa, has reached an agreement to acquire Scatec A.S.A.'s…
EIB Commits $40 Million to Acre Impact Capital’s Climate-Infrastructure Fund…
The European Investment Bank (EIB) has pledged up to $40 million to Acre Impact Capital's Export Finance Fund I,…
AgroFresh Expands Freshness Solutions with Tessara Acquisition
AgroFresh Solutions, a global AgTech innovator specializing in post-harvest produce freshness, has announced the…
Scatec’s Release Secures USD 102 Million Funding to Accelerate Renewable…
Scatec's subsidiary, Release, has signed an agreement with Climate Fund Managers (CFM) to raise USD 102 million in…