Nigeria’s GDP Grows by 3.46 Percent in Third Quarter 2024
Nigeria’s economy expanded by 3.46% year-on-year in Q3 2024, marking a notable improvement from the 2.54% growth recorded in Q3…
Day: November 25, 2024
TD Bank prepares to hire compliance monitors as US CEO reassures staff
Toronto-Dominion (TD) Bank is taking significant steps to address its compliance shortcomings after becoming the largest U.S. bank in history…
Dollar dips with Treasury yields after Bessent pick
The U.S. dollar fell from a recent high after President-elect Donald Trump nominated Scott Bessent, a fiscal conservative and Wall…
FCMB Partners with EStars to Bring Esports Education to Nigerian Schools
First City Monument Bank (FCMB) has teamed up with EStars to introduce esports education to primary and secondary schools across…
Anambra State Implements N70,000 Minimum Wage for Workers
Anambra State has officially adopted the new minimum wage of N70,000, fulfilling the Federal Government’s directive to enhance workers’ standard…
Stock Market Up 0.11% WoW as Analysts Predict Mixed Trading
The Nigerian stock market ended last week on a positive note, with the NGX All-Share Index (ASI) gaining 0.11% to…
Nigerian Banks Face Record-High Lending Rates Amid Economic Pressures
The average maximum lending rate in Nigeria climbed to 30.28% in October 2024, marking its highest level since February 2022.…
AMCON Calls for Tenor Extension and Judicial Efficiency to Boost Debt Recovery
The Asset Management Corporation of Nigeria (AMCON) is urging judicial support and a tenor extension to enhance its debt recovery…
Workers Gain Pathway to Homeownership Through Pension Mortgage Scheme
For many Nigerian workers, owning a home has been an elusive goal, hindered by low income, limited affordable housing, and…
Manufacturers Seek Energy Security to Boost Industrial Growth
The Manufacturers Association of Nigeria (MAN) convened stakeholders at the Manufacturers Energy Security Summit in Lagos to address Nigeria’s critical…
Stock Market Inches Up Amid Speculation of Interest Rate Hike
The Nigerian stock market recorded a marginal gain of 0.1% last week as investors added N77 billion to their portfolio.…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the…
Bank of Industry Secures $5 Billion Funding for Nigeria’s Industrial Growth
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan…
NDIC Assures Heritage Bank Customers Their Deposits Are Secure
The Nigeria Deposit Insurance Corporation (NDIC) has reassured customers of the failed Heritage Bank that their funds are safe. Speaking…
Capital expenditure suffers as FG services debt with N7.4tn
Nigeria’s Federal Government spent a staggering N7.41tn on debt servicing from January to August 2024, exceeding its pro-rata budget by…
Nigerian Banks Launch Major Rights Issues to Meet Recapitalisation Mandate
In response to the Central Bank of Nigeria’s recapitalization directive, several banks are collectively turning to rights issues to raise…
Equity Market Gains N77bn as Capitalisation Approaches N60tn
Last week, the Nigerian equity market added N77 billion in value, edging closer to a total market capitalization of N60…