Secured Loans surge to Gh¢10.8bn in Q2 2024
In the second quarter of 2024, the total value of secured loans granted by banks and Specialized Deposit-Taking Institutions (SDIs)…
Year: 2024
CBN Boosts Forex Liquidity, Sells Dollars To BDCs At N1,580
The Central Bank of Nigeria (CBN) has injected liquidity into the foreign exchange market by selling US dollars to Bureau…
Company Income Tax revenue rises 151% in Q2 2024 to N2.47 trillion
Nigeria’s Company Income Tax (CIT) skyrocketed by 150.83% in Q2 2024, reaching N2.47 trillion compared to N984.61 billion in Q1…
Transcorp Hotels Named Best Hospitality Service Provider
Transcorp Hotels Plc, listed on the Nigerian Exchange (NGX), has been honoured as the Best Hospitality Service Provider at the…
Atiku slams Tinubu admin on VAT raise, warns of worsening economic crisis
Former Vice President Atiku Abubakar has condemned the recent Value Added Tax (VAT) increase from 7.5% to 10%, describing it…
CBN Raises N9.27tn via NTBs as Investors Seek Longer Maturities, Higher Returns
The Central Bank of Nigeria (CBN) successfully raised N9.27 trillion from Nigerian Treasury Bills (NTBs) across auctions held between January…
Economic Insight: 50% electricity subsidy for public hospitals and educational institutions: In the right direction
In the 21st century, a nation’s wealth is measured by its human capital—its people’s education, healthcare, and skills—rather than natural…
European markets start the week on a positive note
On August 28, 2024, European markets opened higher, with the pan-European Stoxx 600 index gaining 0.67% in early London trading.…
Stock market returns bearish amid increase in price of petrol
The Nigerian stock market closed bearish last week, impacted by a sharp rise in petrol prices, which surged from N600…
Nigeria’s SEC to begin crackdown on unregulated crypto exchanges, others
The Securities and Exchange Commission (SEC) of Nigeria has announced that it will soon begin enforcement actions against unregulated individuals…
Investors’ Negative Sentiment Drags Stock Market YtD Performance to 28.97%
The Nigerian stock market has experienced a decline, with the Year-to-Date (YtD) performance dropping to 28.97% due to profit-taking in…
As multinationals exit, these Nigerian companies are spending billions on expansion projects in 2024
Nigeria is experiencing a notable exit of companies due to economic challenges and reforms in energy and forex markets. Major…
Only Nigerians with NIN can buy ₦40,000 rice – FG
The Federal Government has launched the sale of 30,000 metric tonnes of subsidised milled rice, requiring buyers to present a…
BoI boosts funding with Euro 1.43b global loan syndication
The Bank of Industry (BOI) has successfully raised €1.43 billion in a global loan syndication, marking a 142.5% oversubscription, a…
Nigeria targets 30GW power supply by 2030
Nigeria’s Minister of Power, Adebayo Adelabu, has announced that the country is committed to achieving universal energy access by 2060,…
Unity Bank restores service, begins duty collection
Unity Bank Plc has announced the restoration of its services and readiness to collect customs duties from licensed customs agents…
Operators sue govt as PoS registration deadline ends
The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has taken legal action against the Corporate Affairs Commission…
United Capital Trustees gets new CEO
United Capital Trustees, a subsidiary of United Capital Plc, has appointed Michael Thomas as its new Managing Director and Chief…
Tax expert cautions FG against implementing 10 per cent VAT
Former Ogun State Commissioner for Finance, Mrs. Morenike Babington-Ashaye, has cautioned the Federal Government against implementing the newly proposed 10%…
PFAs diversify assets as equity stake jumps 40%
Nigeria’s Pension Fund Administrators (PFAs) have increased their equity investments by 40% in just one year, reflecting the growing confidence…
Why We Approved Crypto Exchanges- SEC
The Securities and Exchange Commission (SEC) of Nigeria recently approved two cryptocurrency exchanges, Busha Digital and Quidax Technologies, as part…
Delisting: Shareholders’ stance unchanged amid PZ Cussons’ N28bn negative equity
Shareholders of PZ Cussons Nigeria are pushing back against the company’s plan to delist from the Nigerian Exchange (NGX), despite…
Sub-Saharan Africa to make 25% of global workforce – Report
Shareholders of PZ Cussons Nigeria are pushing back against the company’s plan to delist from the Nigerian Exchange (NGX), despite…
Yield-hungry investors subscribe Nigerian Treasury Bills with N1.13 trillion
Investor interest in Nigerian Treasury Bills (NTBs) surged at the recent auction held on September 4, 2024, as total subscriptions…
Europe stocks mixed after three straight declines; U.S. jobs data in focus
European stock markets opened Thursday on a mixed note, extending a negative trend despite hitting record highs last week. The…
Shettima inaugurates $115m upgrade of APM terminals west Africa container terminal
Vice President Kashim Shettima officially inaugurated a $115 million upgrade project at the West Africa Container Terminal (WACT) in Onne,…
Nigerian PMI Report: August Sees First Economic Expansion in Over a Year
In August 2024, Nigeria’s Purchasing Managers’ Index (PMI) showed its first economic expansion in 13 months. The Central Bank of…
Sub-Saharan Africa to make 25% of global workforce – Report
A new report from Bridgewater Associates, Global Citizen, and Harith General Partners reveals that Sub-Saharan Africa will contribute about 25%…
Nigeria’s exchange rate weakens to N1,625.88/$1, worst in six months
On August 4, 2024, the naira fell to a six-month low of N1,625.88 per dollar in the official NAFEM market,…
$500m domestic dollar bond result expected Friday
The Federal Government of Nigeria is set to announce the results of its $500 million domestic US dollar bond by…