FG Clarifies Position on Electricity Tariff Hike, Says N200bn Paid on Subsidy Monthly
The Federal Government has denied reports suggesting a 65% increase in electricity tariffs, calling them a misrepresentation. According to the…
Category: Business
EU to Disburse €150bn to Nigeria, Africa Under Global Gateway Initiative
The European Union (EU), through its Global Gateway initiative, has committed €150 billion to be disbursed by 2027 to Nigeria…
Nigeria’s business confidence rises as PMI hits 52.0 in January 2025
Nigerian businesses have shown resilience in the face of economic challenges, as reflected by the Stanbic IBTC Bank Nigeria Purchasing…
Naira appreciates to N1,605/$1 in parallel market on Monday
The Nigerian naira showed a significant recovery in the parallel market on Monday, appreciating by N5 against the US dollar.…
CBN: Banking stocks surge 9.8% m/m as DMBs ramp up capital raising efforts
The Nigerian banking sector has seen a remarkable 9.8% month-on-month surge in banking stocks, driven by the Central Bank of…
AVA unveils money market fund
AVA Global Asset Managers Limited (AVA GAM) has launched its Money Market Fund, which has been approved by the Securities…
Stock Market Gains N83bn on Demand for MTN, 20 Others
The Nigerian Exchange Limited (NGX) opened the new week with a positive market performance, recording an N83 billion increase in…
CBN Reaffirms Commitment to Empower Nigerian Youth Through Credit Policies and Capacity Building
The Central Bank of Nigeria (CBN) has reaffirmed its dedication to empowering Nigerian youth by enhancing credit policies and capacity-building…
Nigeria Launches FX Code to Transform Foreign Exchange Market with Integrity and Transparency
Nigeria has officially launched the Nigeria Foreign Exchange (FX) Code on January 28, 2025, marking a major milestone in its…
Trump Pauses Tariffs on Mexico and Canada, Maintains Pressure on China
U.S. President Donald Trump has agreed to delay imposing tariffs on Mexico and Canada for 30 days. The decision follows…
Nigeria Urged to Adopt Asset-Based Financing for Economic Growth
As Nigeria aims to grow its economy to $1 trillion by 2030, experts have advised the Federal Government (FG) to…
APD 2025: Jinapor pushes for bold energy sector reforms-GHANA
The Minister of Energy and Green Transition for Ghana, John Jinapor, highlighted the persistent issue of inadequate power supply as…
Mahama nominates Dr. Johnson Asiamah as BoG Governor-GHANA
President John Dramani Mahama has nominated Dr. Johnson Asiamah as the new Governor of the Bank of Ghana, pending approval…
Cautious Optimism as Nigeria Lifts Zamfara Mining Ban Amid Rising Gold Demand
The Federal Government of Nigeria has lifted the five-year ban on mining activities in Zamfara State, a region rich in…
Mobile money: Palmpay, OPay, others process N71.5 trillion transactions in 2024
Mobile money transactions in Nigeria have experienced remarkable growth, with the latest data from the Nigeria Inter-Bank Settlement Systems (NIBSS)…
Chinese AI app DeepSeek was downloaded by millions. Deleting it might come next
DeepSeek, a generative AI app from China, has surged to become the most downloaded free app on Apple’s App Store,…
Implications of rebasing Nigeria’s CPI to 2024: A double-edged sword
Nigeria has rebased its Consumer Price Index (CPI) to 2024, significantly affecting how inflation is measured. This move aligns with…
ABCON seeks review of capital requirements for BDCs
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to reconsider…
Trump Tariffs: Nigeria one of 48 countries that has trade deficits with the US
Nigeria is among 48 countries with a trade deficit with the United States, which has significant economic ties with Africa’s…
CBN Reports Record N9.39tn Bank Deposits In January Amid Surging Liquidity
In January 2025, Deposit Money Banks (DMBs) in Nigeria deposited a record N9.39 trillion in excess liquidity with the Central…
Asia-Pacific Markets Fall as Trump Imposes Sweeping Tariffs on Key Trade Partners
Asia-Pacific markets experienced significant losses on Monday following the announcement by U.S. President Donald Trump of tariffs on goods from…
NGX Delists Tourist Company of Nigeria, Union Homes Savings & Loans Over Non-Compliance
The Nigerian Exchange Limited (NGX) has delisted two companies Tourist Company of Nigeria Plc and Union Homes Savings & Loans…
BUA Foods Posts Record N275bn Profit in 2024, Achieves 145.3% Growth
BUA Foods Plc has announced a remarkable 145.3% increase in profit after tax, reaching N274.95 billion for the fiscal year…
Foreign Investors Flock to Naira Assets as Reforms Boost Market Confidence
Recent reforms by the Central Bank of Nigeria (CBN) have spurred increased foreign investor interest in naira assets. The implementation…
Stock Market Gains Over N1 Trillion Amid Mixed Sentiments on Earnings and Dividends
The Nigerian stock market experienced mixed sentiments last week as corporate earnings reports for Q4’24 influenced investor decisions. While some…
JP Morgan delegation meets Edun on investment opportunities
A high-level delegation from JP Morgan, led by Dapo Olagunju, Head of JP Morgan West Africa, met with Nigeria’s Minister…
Strategic CSR Investments: Maximizing Impact for Sustainable Humanitarian Development
In an era of growing economic disparities, investing in humanity through Corporate Social Responsibility (CSR) is more than just an…
Naira Strengthens as Nigeria Clears $7bn Forex Backlog, Boosting Market Confidence
The Nigerian naira appreciated by 3.68% against the U.S. dollar last week, closing at ₦1,474.78/$, following the Federal Government’s clearance…
Nigerian Equity Market Gains N1.1tn in One Week as ASI Hits 104,496.12
The Nigerian equity market recorded a significant gain of N1.1tn in one week, with the All-Share Index (ASI) closing at…
Naira Appreciates to Seven-Month High, Gains N63 Against Dollar
Nigeria’s exchange rate strengthened significantly in January 2025, appreciating by N63.72 to close at N1,474.78 per dollar on January 31,…