Customs integrates 23 Banks for seamless duty payments on B’Odogwu Platform
The Nigeria Customs Service (NCS) has introduced the B’Odogwu Information and Communication Technology (ICT) platform to streamline the import duty…
Year: 2024
EFEMS, Eurobond issuance bolster FX reserves, Naira stability
The Central Bank of Nigeria (CBN) has taken significant steps to stabilize the foreign exchange (FX) market, including the introduction…
Inflation and Rising Raw Material Costs Challenge Confidence in Food, Beverage, and Textile Manufacturing
The Nigerian manufacturing sector is facing significant challenges, including inflation, high raw material costs, low government support, and a surge…
Foreign investments in telecoms crash by $99m – NBS
Foreign investments in Nigeria’s telecommunications sector dropped significantly in the third quarter of 2024, falling to $14.4 million, an 87%…
Asia stocks slip on South Korea turbulence, China disinflation
Asian stock markets faced a challenging start to the week as South Korean stocks tumbled by 2.4%, driven by political…
Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to…
Nigerians Frustrated by NIN Modification Failures as Banks and NIMC Shift Blame
Nigerians face significant challenges with the National Identity Number (NIN) modification process, which has disrupted banking transactions and personal record…
WAPCO, Seplat, and Access Holdings boost stock market to N59.5trn
The Nigerian equities market closed last week with a bullish performance, as gains from Wapco, Seplat, and Access Holdings pushed…
FCMB Group Plc Reports 67% Profit Before Tax Growth to ₦91.8 Billion
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months…
PenCom Restores Investment In Commercial Papers By LPFAs
The National Pension Commission (PenCom) has lifted its temporary suspension on Licensed Pension Fund Administrators (LPFAs) investing in commercial papers…
FCMB begins cash rewards for customers
First City Monument Bank (FCMB) has launched the 10th edition of its “Millionaire Promo,” a nationwide campaign to reward and…
Experts Call for Increased Capital Base for Pension Fund Administrators Amid Economic Challenges
Amid rising inflation and the depreciating value of the Naira, financial experts have called for a review of the minimum…
Public Private Partnership (PPP) Assets To Get Insurance Cover As From Next Year
The Infrastructure Concession Regulatory Commission (ICRC), in collaboration with the National Insurance Commission (NAICOM), will introduce new guidelines in 2025…
Africa Energy Bank rakes in $2.5bn, to commence operations March 2025
The Africa Energy Bank (AEB), a $5 billion initiative spearheaded by the Africa Petroleum Producers Organisation (APPO) and the Afreximbank,…
Zenith Bank’s path to sustainable growth
Zenith Bank, Nigeria’s largest and most profitable financial institution, exemplifies a commitment to sustainable growth rooted in innovation and responsible…
Polaris Bank and Amtis Skills Place Empower Young Designers Through Fashion Competition
Polaris Bank partnered with Amtis Skills Place to host the 2024 Amtis Fashion Competition, a platform aimed at training and…
Finance and insurance sector grow economy by 30.83% on CBN rate hike
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank…
CBN directs banks to make cash available to customers
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to prioritize cash disbursement to customers through both…
Nigerian Banks Record N6.5 Trillion Loan Income Amid Rising Interest Rates
Amid a steep rise in the Central Bank of Nigeria’s (CBN) Monetary Policy Rate (MPR), Nigerian banks generated N6.5 trillion…
Asian Stocks Stumble Amid South Korean Political Turmoil and Global Market Uncertainty
Asian markets faced turbulence as South Korean political upheaval weighed heavily on sentiment. The imposition and subsequent lifting of martial…
NAICOM and ICRC partner on insurance for assets under PPP
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have announced a partnership to ensure proper insurance…
Coronation Insurance declares N2.2bn profit
Coronation Insurance Group has reported a profit before tax of N2.2 billion for the financial year ending December 31, 2023,…
Minority shareholders rally behind UBA’s N239bn rights issue
United Bank for Africa (UBA) Plc has launched a N239.4 billion rights issue, offering existing shareholders 6.84 billion ordinary shares…
Banks raise withdrawal limit to N50,000
Deposit Money Banks in the Federal Capital Territory have increased their maximum over-the-counter daily withdrawal limit to N50,000, a significant…
African Alliance Insurance pays N780m to annuitants
African Alliance Insurance Plc has disbursed N780 million to annuitants under its new interim management. The payout follows the recent…
20 New Millionaires To Emerge In FCMB Promo
First City Monument Bank (FCMB) has unveiled the 10th season of its renowned “Millionaire Promo,” a nationwide campaign aimed at…
Foreign Holdings Drop $13bn On Naira Slump And Corporate Exits
Nigeria’s foreign direct investment (FDI) inward stock experienced a sharp decline, dropping from $86.2 billion in 2022 to $73.4 billion…
FG engages three US lenders for $2.2bn Eurobonds
Nigeria has re-entered the global capital markets after a two-year hiatus, issuing $2.2 billion in Eurobonds to address its fiscal…
Wema Bank awards N145m to outstanding innovators
Wema Bank has successfully concluded the 5th edition of its Hackaholics initiative, awarding N145 million to seven outstanding startups in…
Dangote Cement Becomes Most Capitalized Stock on NGX
Dangote Cement has surpassed Airtel Africa and 11 other companies to become the most capitalized stock on the Nigerian Exchange…