Nigerian Naira Continues Downward Trend Against Dollar, Central Bank Faces Monetary Pressure
The Nigerian naira maintained its depreciating trend against the dollar, reaching 876/$ at the parallel market on Sunday. Just a…
Year: 2023
NOVA Merchant Bank Receives Shareholder Approval for Transition to Commercial Banking
NOVA Merchant Bank has obtained the approval of its shareholders to transition into a commercial bank during its annual general…
Nigeria Signs Historic Agreement for Indigenous Floating LNG Project
The Nigerian National Petroleum Company Limited (NNPCL) and UTM Offshore Limited have entered into a significant Heads of Terms (HoT)…
Rising Cement Prices Threaten Building Standards in Nigeria’s Real Estate Sector
Operators in Nigeria’s real estate sector have expressed concerns over the recent hike in prices of cement and other building…
NGX Reclassifies Fidelity Bank Plc’s Stock to Medium Price Category
The Nigerian Exchange Limited (NGX) has announced the reclassification of Fidelity Bank Plc’s stock from Small price stock to Medium…
FocusEconomic Analysts Forecast 2.8% GDP Growth for Nigeria in 2023 Despite Fuel Subsidy Removal
According to the August 2023 FocusEconomics Consensus Forecast report, Nigeria’s economy is projected to expand by 2.8% in 2023 and…
NECA Raises Concerns Over Rising Inflation and Public Debt in Nigeria
The Nigeria’s Employers Consultative Association (NECA) has voiced apprehension about the country’s surging inflation and burgeoning debt, stating that these…
Nigerian Pension Assets Rise by N2tn in First Half of 2023
Assets under the Contributory Pension Scheme in Nigeria experienced a significant boost, surging by approximately N2tn in the first half…
Dana Air to Train Over 50 Corps Members and Interns as Part of CSR Initiative
Dana Air, a prominent Nigerian airline, has unveiled a comprehensive Corporate Social Responsibility (CSR) program aimed at absorbing and training…
Nigeria Advances Indigenous Floating LNG Project with Heads of Terms Agreement
In a significant move towards strengthening its energy sector and reducing carbon emissions, the Nigerian National Petroleum Company Limited (NNPCL)…
Nigerian Government Records Highest Revenue Allocation in June 2023, Shares N907.054bn
In what is described as a revenue windfall, Nigeria’s federal, state, and local government councils shared a total of N907.054…
Federal Government Faces Revenue Shortfall from Gas Flaring Penalties
The Federal Government recorded a revenue shortfall of N13.33 billion in January and February 2023 from gas flaring penalties issued…
Fidelity Bank to Raise Additional Capital through Public Offer and Rights Issue
Fidelity Bank plans to seek approval from its shareholders to raise additional capital through the issuance of 13,200 billion ordinary…
Rising Maize Prices Threaten Poultry Farms in Delta State, Nigeria
The soaring cost of maize, a major component of poultry feeds, is leading to the closure of farms in Delta…
Dangote Cement Repurchases N41.2 Billion Worth of Shares in Share Buyback Program
Dangote Cement Plc has bought back approximately N41.2 billion worth of its shares from open transactions at the stock market.…
NOVA Merchant Bank Unanimously Approved for Transition to Commercial Banking”
Shareholders of NOVA Merchant Bank have given their unanimous approval to transition the bank into commercial banking during its 6th…
Nigerian Naira Appreciates Against Dollar in Forex Window
On Wednesday, the Nigerian naira appreciated against the US dollar on the Investor & Exporter forex window, closing at 793.70/$.…
Ecobank appeals Honeywell’s N72bn court judgement
Ecobank Nigeria Limited has appealed the ruling of the Federal High Court in Lagos, which ordered the bank to pay…
NECA Calls on Nigerian Government to Develop Implementable Economic and Industrial Policies
The Nigeria Employers’ Consultative Association (NECA) has urged the Federal Government to formulate and implement implementable economic and industrial policies…
Nigeria Needs Over 400,000 Data Protection Officers to Ensure Compliance with Data Protection Act
The Nigeria Data Protection Bureau (NDPB) has stated that Nigeria will require more than 400,000 Data Protection Officers (DPOs) to…
MANEG Collaborates with Key Stakeholders to Empower Non-Oil Exporters under AfCFTA
The Manufacturers Association of Nigeria Export Promotion Group (MANEG) has announced its collaboration with key stakeholders from the public and…
IMF Reports a Strong Dollar’s Impact on Emerging Economies, Including Nigeria
The International Monetary Fund (IMF) revealed that a 10% appreciation in the US dollar, driven by global financial market forces,…
Kenya’s Foreign Exchange Reserves Expected to Remain Under Pressure, Says IMF
The International Monetary Fund (IMF) predicts that Kenya’s official foreign exchange reserves will continue to face challenges despite recent inflows,…
ASEA and ECA Sign Memorandum of Understanding to Drive Financial Market Development in Africa
The African Securities Exchange Association (ASEA) and the United Nations Economic Commission for Africa (ECA) have signed a significant Memorandum…
Fluctuations in FX Rate Trigger Petrol Price Increase, Says Oil Marketers Association
The Chairman of the Major Oil Marketers Association of Nigeria (MOMAN), Mr. Olumide Adeosun, revealed that fluctuations in the foreign…
Nigeria Customs Service to Review Automobile Levy Amidst Import Challenges
The acting Comptroller General of the Nigeria Customs Service, Adewale Adeniyi, announced that the service would seek a review of…
End of Downstream Monopoly: First Batch of Privately Imported Petrol Arrives in Nigeria
The first batch of petrol, consisting of 27 million litres, has been imported by an independent marketer, ending the longstanding…
Federal High Court Orders Ecobank Nigeria to Pay Honeywell Flour Mills N72.2bn in Damages
The Federal High Court in Lagos has issued a ruling ordering Ecobank Nigeria to pay Honeywell Flour Mills the sum…
UK Adds Naira to “Pre-Approved Currencies” for Financing Nigerian Trade
The United Kingdom (UK) will include the Nigerian naira in its list of “pre-approved currencies” for financing transactions, allowing the…
Fluctuating Fuel Prices Expected as Nigeria Deregulates Downstream Petroleum Sector
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has stated that Nigerians should anticipate fluctuations in the price of Premium…