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…
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Foreign Transactions Decline as Naira Weakens
Foreign investors are increasingly withdrawing from the Nigerian Exchange (NGX), with year-to-date foreign…
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…
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…
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…
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…
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…
FG lauds NLRC for contribution to nation’s growth
The Minister of Special Duties and Inter-governmental Affairs, Zephaniah Jisalo, praised the National Lottery…
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…
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,"…
Investment banking hits major deals in 2024 –AIHN President
The Association of Issuing Houses of Nigeria (AIHN) recognized significant achievements in the investment banking…
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…
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…
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…
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…
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…
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…
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…
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…
Workers Gain Pathway to Homeownership Through Pension Mortgage Scheme
For many Nigerian workers, owning a home has been an elusive goal, hindered by low income, limited affordable…
Manufacturers Seek Energy Security to Boost Industrial Growth
The Manufacturers Association of Nigeria (MAN) convened stakeholders at the Manufacturers Energy Security Summit…
Stock Market Inches Up Amid Speculation of Interest Rate Hike
The Nigerian stock market recorded a marginal gain of 0.1% last week as investors added N77 billion to their…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social…
Bank of Industry Secures $5 Billion Funding for Nigeria’s Industrial Growth
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a…
NDIC Assures Heritage Bank Customers Their Deposits Are Secure
The Nigeria Deposit Insurance Corporation (NDIC) has reassured customers of the failed Heritage Bank that their…
Capital expenditure suffers as FG services debt with N7.4tn
Nigeria’s Federal Government spent a staggering N7.41tn on debt servicing from January to August 2024, exceeding…
Nigerian Banks Launch Major Rights Issues to Meet Recapitalisation Mandate
In response to the Central Bank of Nigeria's recapitalization directive, several banks are collectively turning to…
Equity Market Gains N77bn as Capitalisation Approaches N60tn
Last week, the Nigerian equity market added N77 billion in value, edging closer to a total market capitalization…
Customs Revenue Increases By 94% At Lagos Airport, Generates N144.2bn
The Murtala Muhammed Airport Command of the Nigeria Customs Service (NCS) reported a remarkable 94% increase in…