Business Finance Local FCMB Group Plc Announces Successful Completion Of Its Public Offer, Raises ₦147.5 Billion With 33% Oversubscription December 30, 2024 Ekemini FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful completion of its public offer, following the approvals of the Central…
Business Finance Local CBN’s 2024 Agenda Focused on Combating Inflation and Driving Economic Reforms December 24, 2024 Ekemini In 2024, the Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, implemented bold monetary policies to address soaring inflation and stabilize the economy. Interest rates were raised four…
Business Finance International Fed May Cut Rates by Over 50 Basis Points in 2025 Says BCA Research December 24, 2024 Ekemini BCA Research predicts the Federal Reserve will ease interest rates by more than 50 basis points in 2025, exceeding the Federal Open Market Committee’s (FOMC) median forecast. The projection is…
Business Finance investment Local CIS urges FG to leverage commodities ecosystem for GDP growth December 24, 2024 Ekemini The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government (FG) to prioritize the development of Nigeria’s commodities ecosystem as a means of achieving its ambitious $1 trillion GDP…
Business Finance Local Banks’ capital adequacy ratio rose to 14% in Q3 –CBN December 24, 2024 Ekemini The Central Bank of Nigeria (CBN) reported that the banking sector’s Capital Adequacy Ratio (CAR) rose to 14.01% in the third quarter of 2024, up from 12.52% in the second…
Business International investment Exclusive: China plans record $411 billion special treasury bond issuance next year December 24, 2024 Ekemini According to sources familiar with the plan, China is set to issue 3 trillion yuan ($411 billion) in special treasury bonds in 2025, marking its largest-ever issuance. The record-breaking move…
Business International investment EIU projects improved Eurobond issuance in 2025 December 24, 2024 Ekemini The Economist Intelligence Unit (EIU) forecasts a surge in Eurobond issuance across West Africa in 2025, driven by lower borrowing costs and easing financial conditions. According to its Financial Services…
Business Finance investment Local AfDB’s SEFA Invests $20m in ARM-Harith, ACV Fund to drive sustainable infrastructure December 24, 2024 Ekemini The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has committed $20 million to drive sustainable infrastructure and climate tech innovation across Africa. The funding is split between the…
Business Finance investment Local Market Cap Adds N138bn Amid Demand for 54 Stocks December 24, 2024 Ekemini Ahead of the Christmas celebrations, the Nigerian Exchange Limited (NGX) started the week positively, with the market capitalization rising by N138 billion to N61.441 trillion. The All-Share Index (NGX ASI)…
Business Local Macroeconomic Net Forex inflow rises 70% to $42 bn December 24, 2024 Ekemini Nigeria’s net foreign exchange inflows surged by 70.5% year-on-year (YoY) to $42.06 billion in the first nine months of 2024, up from $24.66 billion during the same period in 2023,…
Business International UK Economy Stagnates in Q3 as Challenges Mount for Starmer Government December 23, 2024 Ekemini Britain’s economy recorded zero growth in the third quarter of 2024, according to revised figures from the Office for National Statistics (ONS), down from an earlier estimate of 0.1%. This…
Business International investment Wall Street Opens Higher as Investors Welcome US Inflation Data December 23, 2024 Ekemini U.S. stock futures pointed to a positive start on Wall Street after last week’s U.S. inflation data fueled optimism for potential Federal Reserve rate cuts in 2025. S&P 500 futures…
Business International investment Technology Stakeholders leverage AfCFTA, fintech listings for capital market growth December 23, 2024 Ekemini Nigeria’s capital market has been identified as a critical driver for achieving the government’s $1 trillion economy target by 2030. During a recent forum, stakeholders emphasized harnessing the African Continental…
Business investment Local The equities market gains N1trn as ASI crosses 100,000-point mark December 23, 2024 Ekemini The Nigerian equities market reached a significant milestone last week as the NGX All-Share Index (ASI) crossed the 100,000-point mark for the first time since July 2024. Closing at 101,129.09…
Business Finance Local Technology Innovation Crucial for Addressing Nigeria’s Energy Challenges December 23, 2024 Ekemini Manufacturers in Nigeria’s electrical and electronics sector have been urged to leverage innovation to address the nation’s pressing energy challenges. Speaking at the third Annual General Meeting of the Electrical…
Business International investment Macroeconomic Market Outlook for 2025 Amid Trump Return and Federal Reserve Decisions December 23, 2024 Ekemini As President-elect Donald Trump prepares to return to the White House, U.S. investors anticipating significant changes that will impact the economy and markets in 2025. Key policy shifts, including tax…
Business International investment Macroeconomic Markets in 2024: Wall Street’s high-octane rally keeps investors captive to the US December 23, 2024 Ekemini In 2024, global markets have experienced a surprising surge, with world stocks on track for their second consecutive annual gain of over 17%. Despite ongoing geopolitical tensions in the Middle…
Business investment Local Macroeconomic Festivity and Energy Costs Expected to Drive Inflation Surge in December December 23, 2024 Ekemini Analysts predict that Nigeria’s headline inflation will rise to 34.91% year-on-year in December due to seasonal festive demand, poor harvests, and high energy and transport costs. Recent data from the…
Business Economy Finance investment Local Investors Gain Over N1 Trillion in Five Days as Nigerian Stock Market Surges December 23, 2024 Ekemini The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2% year-to-date capital gain, surpassing the country’s inflation rate of 34.6% in November. Last…
Banking Business Economy Finance Local Net forex inflow fell to $14bn in Q3 – CBN December 23, 2024 Ekemini The Central Bank of Nigeria (CBN) reported a 2.97% decline in net foreign exchange inflow in Q3 2024, totaling $14.46 billion compared to $14.89 billion in Q2. However, this represents…
Business Finance International Brace! Risks stack up for the global economy in 2025 December 23, 2024 Ekemini The global economy, having weathered the challenges of inflation and post-pandemic recovery in 2024, faces significant uncertainty heading into 2025. Central banks lowered interest rates after successfully curbing inflation without…
Agriculture Local Technology FG Restate Commitment to Digitisation of Livestock Sector December 23, 2024 Ekemini The federal government has reaffirmed its commitment to leveraging innovative technology for sustainable development in Nigeria’s livestock sector. At the 2024 Southwest Cattle, Sheep, and Goat Farmers Day Out and…
Banking Business Economy Local Macro Economic Challenges Thrust 12 Banks’ Operating Expenses to N5.18tn December 23, 2024 Ekemini Twelve Nigerian banks listed on the Nigerian Exchange Limited (NGX) reported a combined operating expense of N5.18 trillion in the first nine months of 2024, marking a 101.9% increase compared…
Business Economy Finance Local PenCom, finance ministry working to pay retirees – DG December 23, 2024 Ekemini The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’ benefit payments. Speaking at a media session in Lagos, PenCom’s Director-General, Omolola Oloworaran,…
Banking Business Finance investment Local FCMB Group Shareholders Approve N340 Billion Capital Raise December 23, 2024 Ekemini FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City Monument Bank Limited. The approval, granted at an extraordinary general…
Business Economy Finance Local Naira rebound seen in 2025 on higher FX inflows December 23, 2024 Ekemini The naira is expected to recover in 2025, driven by increased foreign exchange inflows, reduced petrol and food importation, and improved oil exports. Experts attribute this optimism to domestic refining…
Business Finance investment Technology Zest AI secures $200 million to expand credit tech and pursue acquisitions December 19, 2024 Ekemini Zest AI, a credit underwriting solutions provider, has secured a $200 million growth investment from its long-time investor, Insight Partners. This funding marks Insight’s largest contribution to Zest AI, following…
Business Finance investment Rainier Partners Acquires WPAS to Expand Multi-Employer Benefits Administration December 19, 2024 Ekemini Rainier Partners, a Seattle-based private equity firm, has announced its investment in Welfare & Pension Administration Service (WPAS), a leading third-party administration firm specializing in multi-employer benefit plans. WPAS, based…
Business Finance International investment USTDA and Meridiam Join Forces for African Infrastructure Development December 19, 2024 Ekemini The United States Trade and Development Agency (USTDA) and Paris-based Meridiam SAS have signed a Memorandum of Understanding (MOU) to advance infrastructure investment in sub-Saharan Africa. The partnership aims to…
Business Economy Finance investment SEC Draft Rules Open Pension Funds to Commercial Papers Investment December 19, 2024 Ekemini The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume investments in commercial papers. This follows a prior directive from the National Pension…
