CBN hikes interest rate to 27.50% in fierce inflation fight
The Central Bank of Nigeria (CBN) has raised the Monetary Policy Rate (MPR) by 25 basis points to 27.50%, marking…
Year: 2024
Government to Support Research and Technology for Health Transformation
The Nigerian government has reaffirmed its commitment to advancing universal health coverage (UHC) by prioritizing research, technology, and local healthcare…
SEC: No investor will lose funds to fintech
The Securities and Exchange Commission (SEC) has reassured investors about the safety of their investments as financial technology (Fintech) continues…
Ecobank boosts construction sector with Design & Build expo
Ecobank Nigeria has launched its five-day Build and Design Expo to promote innovation and creativity within Nigeria’s construction sector. The…
Naira appreciates to N1,755 per dollar in the parallel market
The naira appreciated in the parallel market on Tuesday, strengthening to N1,755 per dollar from Monday’s rate of N1,770 per…
Bitcoin options trade shows more bets on retreat after failing to breach $100,000
Bitcoin recently reached a record high of $99,830 but fell 8% to $91,377, with investors now betting on further declines.…
Delta State’s Strategic Investment in UTM FLNG: A Game-Changer
Delta State’s acquisition of an 8% stake in the UTM Floating Liquefied Natural Gas (FLNG) plant is being hailed as…
CBN Implements $100,000 Minimum Trade for Banks in FX Market
The Central Bank of Nigeria (CBN) has introduced new guidelines for interbank foreign exchange trading through the Electronic Foreign Exchange…
Wema Bank’s Hackaholics 5.0 finalists battle for N75m prize
Wema Bank, renowned for its innovation in banking and creator of Africa’s first fully digital bank, ALAT, has unveiled the…
Expert Warns Against Further Tightening of Monetary Policy Rate
Economic expert Dr. Chijioke Ekechukwu has advised against further increases to Nigeria’s Monetary Policy Rate (MPR) ahead of the Central…
States failed to execute 40% of capital expenditure – Fitch
State governments in Nigeria fail to execute 40% of their capital expenditure (CAPEX) budgets, according to the Fitch Ratings report.…
Foreign Transactions Decline as Naira Weakens
Foreign investors are increasingly withdrawing from the Nigerian Exchange (NGX), with year-to-date foreign outflows reaching N400.04 billion by October 2024,…
Nigerian Capital Market Raises N2.7tn to Boost Economy in 2024
The Securities and Exchange Commission (SEC) announced that banks and other companies raised ₦2.7 trillion from the Nigerian capital market…
Dollar Climbs as Trump’s Tariff Threats Hammer European Stocks
The U.S. dollar surged on Tuesday, while European stocks suffered sharp declines. President-elect Donald Trump vowed to impose tariffs on…
Services and Oil Drive Nigeria’s Economic Growth to 3.46% in Q3 2024
Nigeria’s economy grew by 3.46% year-on-year in the third quarter of 2024, outperforming the 2.54% growth recorded in the same…
CBN extends BDCs’ recap deadline by six months
The Central Bank of Nigeria (CBN) has extended the recapitalization deadline for Bureau De Change (BDC) operators by six months,…
Mixed reactions trail moves to privatisee PH, Warri, Kaduna refineries
The Nigerian government has confirmed its plans to privatize the country’s four government-owned refineries in Port Harcourt, Warri, and Kaduna,…
FG lauds NLRC for contribution to nation’s growth
The Minister of Special Duties and Inter-governmental Affairs, Zephaniah Jisalo, praised the National Lottery Regulatory Commission (NLRC) for its impactful…
Liquidation of Heritage Bank Plc: Matters Arising (2)
The liquidation of Heritage Bank Plc and the transfer of its powers to the Nigeria Deposit Insurance Corporation (NDIC) under…
Keystone Bank Rewards Loyal Customers in ‘Welcome Back Campaign Promo
Keystone Bank, a prominent financial institution in Nigeria, recently concluded its “Welcome Back Campaign Promo,” an initiative designed to re-engage…
Investment banking hits major deals in 2024 –AIHN President
The Association of Issuing Houses of Nigeria (AIHN) recognized significant achievements in the investment banking sector during its annual Investment…
Stock Market Declines 0.21% on Profit-Taking in GTCO and 29 Other Stocks
The Nigerian Exchange Limited (NGX) All-Share Index fell by 0.21% at the start of the trading week, closing at 97,626.27…
Nigeria’s GDP Grows by 3.46 Percent in Third Quarter 2024
Nigeria’s economy expanded by 3.46% year-on-year in Q3 2024, marking a notable improvement from the 2.54% growth recorded in Q3…
TD Bank prepares to hire compliance monitors as US CEO reassures staff
Toronto-Dominion (TD) Bank is taking significant steps to address its compliance shortcomings after becoming the largest U.S. bank in history…
Dollar dips with Treasury yields after Bessent pick
The U.S. dollar fell from a recent high after President-elect Donald Trump nominated Scott Bessent, a fiscal conservative and Wall…
FCMB Partners with EStars to Bring Esports Education to Nigerian Schools
First City Monument Bank (FCMB) has teamed up with EStars to introduce esports education to primary and secondary schools across…
Anambra State Implements N70,000 Minimum Wage for Workers
Anambra State has officially adopted the new minimum wage of N70,000, fulfilling the Federal Government’s directive to enhance workers’ standard…
Stock Market Up 0.11% WoW as Analysts Predict Mixed Trading
The Nigerian stock market ended last week on a positive note, with the NGX All-Share Index (ASI) gaining 0.11% to…
Nigerian Banks Face Record-High Lending Rates Amid Economic Pressures
The average maximum lending rate in Nigeria climbed to 30.28% in October 2024, marking its highest level since February 2022.…
AMCON Calls for Tenor Extension and Judicial Efficiency to Boost Debt Recovery
The Asset Management Corporation of Nigeria (AMCON) is urging judicial support and a tenor extension to enhance its debt recovery…