US Federal Reserve Regulator Resigns Citing Risk of Dispute
Michael Barr, the vice chair for supervision at the US Federal Reserve, announced his early resignation, citing the “risk of…
Month: January 2025
Concessional Borrowing Key to Addressing Nigeria’s Debt Challenges
Nigeria’s rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and financial…
Nigerian Banks Borrow Record N131.42 Trillion From CBN Amid Tight Liquidity
In 2024, Nigerian Deposit Money Banks (DMBs) and merchant banks borrowed an unprecedented N131.42 trillion from the Central Bank of…
Microsoft To Invest $3 Billion In India
Microsoft CEO Satya Nadella announced a $3 billion investment aimed at enhancing the company’s artificial intelligence (AI) and Azure cloud…
African Tech Startups Raise $2.2B Despite Challenges
African tech startups, particularly in Nigeria, Kenya, and South Africa, secured $2.2 billion in funding in 2024 through equity, debt,…
Nigerian Telecom Subscribers Switch Networks in Pursuit of Quality Services
Over 60,000 Nigerian telecom subscribers switched networks between October 2023 and October 2024, according to the Nigerian Communications Commission’s (NCC)…
Foreign inflows soar by 63.7% to $3.82bn in 9 months
Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators (IMTOs), reaching $3.82 billion in…
NGX lists Nigerian Breweries’ 20.7bn ordinary shares
Nigerian Breweries Plc has officially listed 20.7 billion newly allotted ordinary shares on the Nigerian Exchange Limited (NGX). The announcement…
Mutual Funds Surge to N3.75trn as Start-up Investments Plunge
Nigerian investors have significantly increased their interest in Mutual Funds, with the total Net Asset Value (NAV) soaring by 80.3%…
Foreign Investors’ Participation in Nigerian Stock Market Declines
Foreign investors’ participation in the Nigerian stock market has waned, with outflows surpassing inflows by 12.2% year-to-date as of November…
Expert forecasts 63% growth in the service sector’s GDP contribution in 2025
Dr. Alban Igwe, a logistics expert and former Vice President of the Chartered Institute of Logistics and Transport, has predicted…
NGX launches equity-based commodity index, hints on rebalancing
The Nigerian Exchange Limited (NGX) has launched a new Equity-Based Commodity Index aimed at tracking the performance of companies in…
Banks’ Credit to Private Sector Hits N76 Trillion as CBN Tightens Loan-to-Deposit Ratio
In November 2024, credit to the private sector in Nigeria surged by 27.3% year-on-year, reaching N75.96 trillion, according to the…
Germany Launches Online Visa Application Platform for Nigerians and Others
Germany has unveiled a new online visa portal designed to streamline the application process for Nigerians and others seeking to…
CBN Rules Out Further Naira Devaluation in 2025
The Central Bank of Nigeria (CBN) has reassured the public that it will not devalue the naira further in 2025,…
Pension Sector Thrives Amid 2024 Economic Challenges
The Nigerian pension sector demonstrated resilience in 2024, accumulating assets worth N21.9 trillion and expanding contributors to 10.5 million despite…
Rental income still low at 5% – Stakeholders
Rental income in Nigeria remains low, averaging between 3% and 5%, according to Olufemi Seyi, CEO of Casafina Development. Speaking…
Microsoft plans to invest $80b in data centres
Microsoft has announced plans to allocate approximately $80 billion in fiscal 2025 to expand its data center infrastructure, primarily to…
Stocks Edge Higher Amid Political and Economic Uncertainty
Global stock markets showed mixed signals on Monday as investors faced a week filled with critical economic data and lingering…
Foreign transactions on NGX hit N785bn in 11 months –Report
Foreign transactions on the Nigerian Exchange Limited (NGX) reached N785.28 billion in the first 11 months of 2024, a dramatic…
BMI Predicts Monetary Easing in Nigeria as Inflation Drops
BMI, the research arm of Fitch Solutions, anticipates a shift toward monetary easing in Nigeria and other Sub-Saharan African (SSA)…
Nigerian Equities Begin 2025 with Strong Gains as Investor Optimism Rises
The Nigerian stock market started 2025 on a bullish note, with the All-Share Index (ASI) climbing 1.42% to close at…
Investor Concerns Persist Despite Stronger Market Regulations in Nigeria
Despite recent regulatory advancements, including the Investment and Securities Bill (ISB) 2024, investor confidence in Nigeria’s equities market remains fragile.…
Guinea Insurance Targets N1.75bn Premium Boost with Strategic Vision
Guinea Insurance has announced a projection of N1.75 billion in gross premium written for the first quarter of 2025. This…
Indonesia’s 2024 Budget Deficit Lower Than Expected at 2.3% of GDP
Indonesia’s unaudited budget deficit for 2024 stood at 507.8 trillion rupiah ($31.38 billion), or 2.29% of GDP, surpassing initial expectations…
How Edun inspired over $10bn inflows into Nigeria
In 2024, Nigeria witnessed significant economic progress under Finance Minister Wale Edun, who facilitated $9.09 billion in budget financing and…