Subsidy Removal: FG Seeks Legislative Approval before Distributing $800 million to Needy Nigerians.
Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, has stated that legislative approval is pending and that…
Year: 2023
States with the Highest Inflation Rates are Lagos, Ondo, and Bayelsa.
The three states of Ondo, Bayelsa, and Lagos had the highest rates of inflation in March 2023. NBS reports that…
NECA Rejects Tax Increases and Cautions the FG Against IMF Demands.
The International Monetary Fund’s recommendation that the Federal Government raise taxes in order to reduce borrowing will have an adverse…
GTCO Generates a N214 billion Profit.
According to Guaranty Trust Holding Company Plc, it reported a profit before tax of N214.2 billion, a 3.3% decrease from…
Employees Moved N663 billion to Other PFAs – PenCom
Since the National Pension Commission opened the transfer window, 168,768 employees have switched Pension Fund Administrators and shifted N663.761bn in…
Custodian Investment’s Dividend Payment has Received Shareholder Approval.
The board of directors and management of Custodian Investment Plc have received praise from the company’s shareholders for maintaining strong…
Amethis Collaborates with Diot-Siaci in a Deal for a Moroccan Insurance Broker.
Amethis, one of the top investment funds focused on the African continent that was established in collaboration with the Edmond…
Dangote Sugar Pays a Dividend of N18 billion.
Despite the economic difficulties that characterized the 2022 financial quarter, Dangote Sugar Refinery Plc said it will pay N18.22bn in…
Ryse Energy’s Capital Raise Funds to Support Africa Energy Expansion Plans.
Ryse Energy, a market leader in decentralized renewable energy systems with more than 4,000 units supplied or installed for customers…
Aviation Workers to Delay Flights, Airports Today.
As aviation unions promised on Sunday to start a two-day warning strike on Monday, chaos may erupt at airports around…
World Bank: 96% of Nigeria’s Revenue Utilized to Repay Debt in 2022.
Nigeria is in a more precarious position now than it was before the late 2021 global oil price boom. In…
Banks are being Investigated for Dollar Price Fixing.
The Competition Authority of Kenya (CAK) is looking into several unnamed banks over allegations that they fixed foreign exchange trades,…
Kenyan Economic Growth will Surpass Angola as Ethiopia’s Lead Grows.
The International Monetary Fund (IMF) forecasts that this year, despite Ethiopia extending its lead, Kenya’s GDP will surpass that of…
IMF: Ghana will Shortly Receive a Bailout Package.
At the ongoing World Bank/IMF Spring Meetings in Washington, D.C., Ms. Georgieva expressed hope about the future of the nation,…
Aviation Workers Plan Strike Over Minimum Wage.
Due to the Federal Government’s unwillingness to release the reviewed condition of service that was negotiated more than seven years…
Dangote Guarantees Greater Profits for Shareholders.
Aliko Dangote, the chairman of Dangote Cement Plc, has pledged to shareholders and other stakeholders that the company will increase…
Five Fintech Companies Received SEC Approval to Operate as Capital Market Operators.
The Securities and Exchange Commission has recognized five financial technology companies as legitimate capital market operators. This information was made…
NSIA Assets Reach $1 trillion and Draw $500 million in FDI.
The Nigeria Sovereign Investment Authority increased its net assets from N919.73 billion in 2021 to N1.02 trillion in 2022, a…
World Bank: Africans in diaspora remitted $95.6bn in 2021.
The managing director of Shelter Afrique, Mr. Thierno-Habib Hann, stated at the 25th Annual Harvard Africa Business Conference 2023 –…
NBCC Seeks Trade Cooperation with the UK.
When the Nigerian British Chamber of Commerce leaves on its trade mission to the UK next month, a commercial cooperation…
FG: Fuel Subsidies and Oil Theft Consumed N29tn.
According to the Federal Government, N13 trillion was spent between 2005 and 2021 subsidizing Premium Motor Spirit, or gasoline, while…
Russia Increases Gasoline Exports in Q1 and Replaces European Consumers With African Countries.
Following the European Union’s boycott on Russian goods on February 5, Russia increased exports of the motor fuel to African…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
Naira Appreciates to N737/$ at Parallel Market as Dollar Demand Slows.
On Wednesday, the parallel foreign exchange (FX) market, also known as the black market, saw naira rise to N737 per…
DMO Reopens Four N360 billion Bonds at a Price of N 1,000 each.
Four Federal Government of Nigeria bonds worth N360 billion have been posted by the Debt Management Office for subscription at…
FG Promises to Penalize Online Banks for Privacy Violations.
Customers of digital lenders have been promised by the federal government through the Federal Competition and Consumer Protection Commission that…
Femi Otedola becomes Transcorp’s Largest Individual Shareholder, with 5.5% Stake.
A multibillionaire businessman named Mr. Femi Otedola has become Transcorp, a publicly traded, diversified company led by Mr. Tony Elumelu,’s…
CBN Redesign should Permit Low Interest Rates – Economist.
Basil Odilim, a development economist, has urged the Central Bank of Nigeria to be redesigned to make way for a…
Ogun State is Planning to Utilize Gas-powered Mass Transit Vehicles.
The Ogun State Government has announced that it will use mass transit buses that are powered by compressed natural gas…
Accountant General Under Investigation by the Senate for N74 billion.
The Accountant of the Federation is being investigated by the Senate for handing out N74 billion in social benefits without…