International Market Stock Asia and Europe stocks climb on the US lead while dollar dips December 3, 2024 Ekemini Asian and European stock markets saw strong gains on December 3, following a rally in US tech stocks that pushed Wall Street to new record highs. Japan’s Nikkei index rose…
International Market Euro Steadies as France Political Crisis Worsens Investor Concerns December 3, 2024 Ekemini The euro stabilized on Tuesday, recovering slightly after political turmoil in France heightened market volatility. French Prime Minister Michel Barnier faces a no-confidence vote over a divisive budget proposal featuring…
Crypto Market Forex Turnover in NAFEM Jumps 62 Percent to $43 Billion Amid Naira’s Mixed Performance December 3, 2024 Ekemini The Nigerian Foreign Exchange Market (NAFEM) recorded a 61.9% year-on-year increase in dollar turnover, reaching $43.09 billion in the first 11 months of 2024 compared to $26.6 billion in the…
Business System liquidity hits N518.9bn in November December 3, 2024 Ekemini System liquidity in Nigeria rebounded to a surplus of N518.9 billion in November 2024, up from a deficit of N207.6 billion in October, according to Afrinvest’s Monthly Market Report. This…
Business insurance Coronation Insurance reports N2.2bn profit highlights digital transformation December 3, 2024 Ekemini Coronation Insurance Plc has announced a profit before tax of N2.2 billion for the financial year ending 2023, a remarkable turnaround from the N1.8 billion loss in 2022. At its…
Banking Business Local FCMB Millionaire Promo Set to Reward 20 Customers Nationwide December 3, 2024 Ekemini First City Monument Bank has launched the 10th edition of its ‘Millionaire Promo,’ designed to reward and empower customers across Nigeria. Running until September 2025, the promotion will see 20…
Business SEC Guarantees Safety Of Fintech Investors’ Funds December 3, 2024 Ekemini The Securities and Exchange Commission (SEC) has reaffirmed its commitment to safeguarding investors’ funds, especially within the growing fintech ecosystem. Speaking at a capacity-building workshop for financial journalists in Abuja,…
Business Local Experts Advocate Green Building For Sustainable Financing—Ecobank Expo December 3, 2024 Ekemini At the Ecobank Design and Build Expo in Lagos, industry leaders stressed the importance of adopting green building practices to secure sustainable financing. Green building involves designing and constructing structures…
Business insurance Local Nigeria’s insurance market’s premium hits N813.1b December 3, 2024 Ekemini Nigeria’s insurance industry achieved a significant milestone with Gross Premium Written (GPW) reaching N813.1 billion in Q2 2024, marking a 47.4% year-on-year growth and a 72.7% quarterly increase. According to…
Crypto International Norway Wealth Fund to Probe Shoe Producers and Crypto Firms for Ethical Breaches in 2025 December 2, 2024 Ekemini Norway’s $1.8 trillion sovereign wealth fund, the world’s largest, will investigate ethical concerns surrounding shoe manufacturers, cryptocurrency companies, and gambling firms in 2025. The fund’s Council on Ethics, tasked with…
Business Marketers Divided Over Advance Payment Policy by Dangote Refinery December 2, 2024 Ekemini Oil marketers in Nigeria have voiced differing opinions regarding a new policy by Dangote Refinery requiring advance payments for product offtake. Traditionally, marketers paid upon product arrival at depots, but…
Finance International Singapore Central Bank Fines JPMorgan Over Misconduct by Relationship Managers December 2, 2024 Ekemini Singapore’s Monetary Authority (MAS) has fined JPMorgan Chase S$2.4 million (USD 1.79 million) for failing to prevent misconduct by its relationship managers during over-the-counter bond transactions. The managers reportedly provided…
Banking Finance Access Bank Drives Digital Transformation to Expand Financial Inclusion and Enhance Retail Banking December 2, 2024 Ekemini Robert Giles, Senior Banking Advisor at Access Bank Plc, highlights the bank’s strides in digital innovation and financial inclusion. With over 60 million customers, Access Bank has transitioned from a…
Business Local FCCPC Engages GT Bank, MTN, Air Peace Over Possible Violation December 2, 2024 Ekemini The Federal Competition and Consumer Protection Commission (FCCPC) is set to address consumer complaints against Guaranty Trust Bank (GTB), MTN Nigeria, and Air Peace Limited. The investigations, scheduled for December…
Business Schneider Reiterates Commitment to Accelerate Data Centre Market December 2, 2024 Ekemini Schneider Electric has reaffirmed its dedication to expanding its presence in the data centre market across East and West Africa, regions that are becoming increasingly significant due to rapid digital…
Business Local Market CBN’s interest rate hike deflates stock market performance December 2, 2024 Ekemini The Nigerian Exchange Limited (NGX) closed last week on a negative note, reflecting the impact of the Central Bank of Nigeria’s (CBN) recent decision to raise the Monetary Policy Rate…
Business Local NASD seeks compliance with SEC’s rule on trading unlisted securities December 2, 2024 Ekemini The NASD OTC Exchange has called on public limited companies to adhere to a Securities and Exchange Commission (SEC) rule requiring that securities of unlisted public companies be traded exclusively…
Crypto International Market Bitcoin Faces Volatility as Traders Hedge Against Decline December 2, 2024 Ekemini Bitcoin’s recent failure to surpass the $100,000 milestone has prompted a wave of caution among investors, evidenced by a shift in options trading strategies. The cryptocurrency hit an all-time high…
Business Finance Local CBN Raises N11.29trn Via NTBs as 364-Day Yield Hit 23.5% December 2, 2024 Ekemini In 2024, the Central Bank of Nigeria (CBN) successfully raised N11.29 trillion through Nigerian Treasury Bills (NTBs), marking a 106.4% increase from the N5.47 trillion raised in 2023. This surge…
International Market Euro’s bruising leaves global investors on edge December 2, 2024 Ekemini The euro has dropped by over 3% against the U.S. dollar in November, heading toward its worst month since early 2022. Analysts warn that this decline could introduce significant volatility…
Business International African countries pay 500% higher costs on global market debt – AfDB December 2, 2024 Ekemini African countries are enduring a 500% rise in debt servicing costs when borrowing from international markets, according to the African Development Bank (AfDB). Speaking at a recent African Union summit…
Business Local Equity market loses N185bn in one week December 2, 2024 Ekemini The Nigerian equity market experienced a decline of N185bn last week as the All-Share Index dropped by 0.33%, closing at 97,506.87, while the Market Capitalisation fell by 0.31% to N59.11tn.…
Business Local CBN Launches New User-Friendly Website to Boost Transparency December 2, 2024 Ekemini The Central Bank of Nigeria (CBN) has unveiled its newly redesigned website today, December 2, 2024. According to a statement from Sidi Ali, the acting Director of Corporate Communications, the…
Business Crypto SEC flags Marino FX as illegal crypto exchange December 2, 2024 Ekemini The Securities and Exchange Commission (SEC) has discredited Marino FX Limited, a company falsely claiming to be an SEC-licensed cryptocurrency exchange in Nigeria. In an official statement, the SEC confirmed…
Business Market Equities market dips as investor sentiment wanes December 2, 2024 Ekemini The Nigerian equities market closed on November cautiously, with the NGX All-Share Index (ASI) dipping by 0.33% to 97,506.87 points despite a year-to-date gain of 30.40%. Subdued investor sentiment overshadowed…
Business Local Innovative Financing Crucial to Africa’s Maritime Growth Says NIMASA DG December 2, 2024 Ekemini Dr. Dayo Mobereola, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), has called for innovative financing models to drive sustainable development in Africa’s maritime sector. At the…
Business Stock Nigerian Stock Market Declines Amid Mixed Sentiments and Sectoral Divergences December 2, 2024 Ekemini The Nigerian Exchange (NGX) All-Share Index dipped by 0.33% in the week ending November 29, 2024, closing at 97,506.87 points with a market capitalization of ₦59.107 trillion. The trading session…
Business Finance Local Stanbic IBTC Bank Launches Senior Citizens Account for Nigerians Aged 50 and Above December 2, 2024 Ekemini Stanbic IBTC Bank has introduced the Senior Citizens Account, a specialized banking service tailored for Nigerians aged 50 and older. This initiative aims to meet the unique financial needs of…
Local Pension Administrators Crucial to Retirement Financial Security November 27, 2024 Ekemini Pension administrators play a pivotal role in securing the financial well-being of contributors under the Contributory Pension Scheme (CPS), according to Olusakin Labeodan, Managing Director of Leadway Pensure. Speaking at…
insurance Heirs Insurance Group calls for AI innovation to drive insurance growth in Africa November 27, 2024 Ekemini At the West African Insurance Companies Association Conference in Accra, Niyi Onifade, Sector Head of Heirs Insurance Group, underscored the transformative potential of Artificial Intelligence (AI) for the insurance industry…
