US Stocks Fall as Fed Signals Slower Pace of Rate Cuts
US stock markets experienced significant declines following the Federal Reserve’s decision to cut interest rates for the third time in…
Year: 2024
Bank of England Expected to Maintain Interest Rates at 4.75%
The Bank of England is expected to keep its base interest rate steady at 4.75%, following the Monetary Policy Committee…
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation…
Tinubu Unveils 2025 Budget Targeting Inflation and Naira Stability
President Bola Tinubu presented the 2025 Appropriation Bill to the National Assembly, aiming to stabilize the exchange rate at N1,500…
MSMEs navigate tough economy, demand state of emergency to tackle issues
Micro, small, and medium enterprises (MSMEs) in Nigeria are facing a tough economic environment marked by rising costs, limited access…
Rupee Hits Record Low at 85/USD as Fed Outlook and Economic Pressures Weigh
The Indian rupee has plunged past the 85 mark against the U.S. dollar for the first time, marking a historic…
CBN caps PoS daily withdrawal at N100,000 to boost cashless economy
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using point-of-sale (PoS) terminals…
Dangote to NNPC Ltd: Your statement on $1bn refinery investment inaccurate, misleading
Dangote Petroleum Refinery has refuted claims made by the Nigerian National Petroleum Company Limited (NNPCL) about its role in a…
Nigeria’s $42bn Reserves Can Fund Nine Months of Imports Says CBN
Nigeria’s external reserves have grown to $42.01 billion, enabling the country to finance imports for over nine months, according to…
Aradel Holdings and 41 Others Boost Nigerian Stock Market by N258bn
The Nigerian stock market maintained its upward trend, fueled by price gains in Aradel Holdings Plc and 41 other stocks.…
SEC seeks policy support to drive $1tn economy
The Securities and Exchange Commission (SEC) has called for stronger policy support to help drive Nigeria’s ambition of reaching a…
NGX gains N78bn as MRS, Wapic lead
The Nigerian Exchange (NGX) saw a positive trading session on December 18, 2024, with the equity market gaining N78 billion…
$1 trn economy is necessity for prosperity, resilience of Nigeria — SEC DG
The Securities and Exchange Commission (SEC) has emphasized that achieving a $1 trillion economy is essential for Nigeria’s prosperity and…
Senate Proposes Ban on Dollar Salaries and Foreign Currency Transactions
The Nigerian Senate has introduced a bill to amend the Central Bank of Nigeria Act, 2007, prohibiting the use of…
Hedge Funds Turn to Macro Strategies Amid Market Volatility in 2025
Hedge fund investors are prioritizing macro strategies for 2025, driven by anticipated political and economic turbulence under the incoming U.S.…
PenCom Ensures Pension and Insurance Coverage for Over 38,000 Employers
The National Pension Commission (PenCom) has revealed that over 38,000 employers secured pension and insurance coverage for their workers in…
Social dialogue crucial for economic development – ILO
The International Labour Organisation (ILO) has emphasized the critical role of social dialogue in addressing global labor, economic, and social…
As bitcoin soars, luxury brands consider accepting crypto payments
The recent surge in Bitcoin’s value has sparked interest among luxury brands to explore cryptocurrency as a payment option, aiming…
Sterling Bank champions African Cinema at 2024 S16 Film Festival
Sterling Bank has underscored its commitment to Africa’s creative economy by sponsoring the 2024 S16 Film Festival, a premier platform…
Leadway Assurance Plays Transformative Role in SMEs
Leadway Assurance has reaffirmed its commitment to supporting Small and Medium Enterprises (SMEs) by offering more than risk underwriting, positioning…
UBA to Expand SMEs Lending, Invest in Digital Technology with N239.4bn Rights Issue
United Bank for Africa (UBA) Plc has announced plans to utilize the net proceeds of its ongoing N239.4 billion rights…
Lagos State partners with Access Bank to develop 704 housing units
The Lagos State government and Access Bank have signed an MoU to build 704 two-bedroom apartments in Odo-Nla, Ikorodu, as…
ICPC Recovers N30 Billion and $966900 in Cash Over One Year
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced the recovery of N29.7 billion and $966,900 in foreign…
Naira closes flat across FX markets
The naira remained stable across Nigeria’s foreign exchange markets on Tuesday as dollar demand eased slightly. At the Electronic Foreign…
Foreign portfolio investment in the stock market rises 180.9%
Foreign Portfolio Investments (FPIs) in the Nigerian stock market surged by 180.95% in the first ten months of 2024, reaching…
UBA donates N500m to Lagos security trust fund
The United Bank for Africa (UBA), through its corporate social responsibility arm, UBA Foundation, has donated N500 million to the…
Africa Faces $74 Billion Debt Servicing Challenge in 2024 – AfDB
African nations, including Nigeria, require approximately $74 billion for debt servicing in 2024, highlighting the continent’s worsening debt crisis. Speaking…
Stock Market Gains N330.24bn on Strong Demand for Aradel Holdings and Others
The Nigerian stock market kicked off the week on a positive note, driven by a surge in investor interest for…
Nigeria’s exports to ECOWAS hit N1.5tn – NBS
Nigeria’s exports to the Economic Community of West African States (ECOWAS) surged to N1.54 trillion in the third quarter of…
W’Bank plans $1.65bn loans for Nigeria next year
The World Bank plans to approve three major loans for Nigeria in 2025, totaling $1.65 billion, aimed at addressing the…