African Alliance Insurance pays N780m in claims to annuitants
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its efforts to…
Category: Business
Naira Appreciates To N1,550/$ In Parallel Market
The Naira appreciated in the parallel market to N1,550 per dollar, a slight improvement from N1,555 last weekend. This comes…
Oil & Gas Industry: PENGASSAN Kicks Against Flagrant Abuse Of Expatriate Quota
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns about the high number of expatriates…
NPA, Nigerdock finalize $1bn Snake Island Port agreement
In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized…
Tech entrepreneurs set to launch platform to connect African artisans to global buyers
To transform cross-border trade and empower African businesses, two tech entrepreneurs, Wale Ayantoye and Ola John Ajiboye, have launched “Giri…
Inflationary pressures hamper business operations in November
The continued rise in inflation has significantly impacted business operations in Nigeria, leading to stagnation in several sectors. This is…
NECA Applauds Fiscal, Monetary Authorities Broader Push To Stabilise Naira, Economic Framework.
The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government’s recent issuance of a $2.2 billion Eurobond, which aims…
Chukwu Calls for Tech Adoption in Nigerian Banks’ Recapitalisation to Boost Efficiency
Johnson Chukwu, Group Managing Director of Cowry Assets Management Limited, has urged the Central Bank of Nigeria (CBN) to utilize…
Equity market reverses gain with N63bn loss
The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total value dropped…
As the naira soars, ABCON urges CBN to tighten the noose on speculators
The naira has experienced a dramatic surge, rising 8.9% in one week, as it rallied from N1,672 to N1,535 per…
Equities market rises, investors pocket N426bn
The Nigerian equities market ended the week with a notable gain, as investors earned N426.69 billion due to increased trading…
Coronation Joins AFIS as Gold Sponsor, Championing Innovation in African Finance
Coronation Group has announced its role as a Gold Sponsor at the Africa Financial Summit (AFIS), set to take place…
PalmPay Partners with NFIU to Boost Financial Security in Nigeria
PalmPay, a leading Nigerian fintech company, has reaffirmed its commitment to tackling financial fraud through advanced technology. During a recent…
Banks’ Recapitalisation, New Listings Boost NGX Market Cap by N8.1tn
In 2024, the Nigerian Exchange Limited (NGX) saw a remarkable surge of N8.1 trillion in its market capitalization, despite Nigeria’s…
Data expose gaps in Nigeria’s $1trn GDP target
Recent data from Nigeria’s National Bureau of Statistics (NBS) reveals a significant drop in the country’s GDP in dollar terms,…
Marketers Begin Direct Loading From Dangote Refinery
Independent Petroleum Marketers Association of Nigeria (IPMAN) has commenced direct premium Motor Spirit (PMS) from the Dangote Refinery, following an…
Naira Sees Massive Recovery Amid New Forex System
The Nigerian Naira has experienced significant appreciation across all foreign exchange markets following the implementation of the Central Bank of…
FirstBank unveils entertainment hub
FirstBank has launched Bluu TV, a new entertainment hub designed to support Nigeria’s creative arts sector, as part of its…
Organised Private Sector (OPS) urges sustenance as naira gains N137/$
The naira strengthened significantly against the dollar, gaining N137 within a week following the Central Bank of Nigeria’s (CBN) introduction…
Cardoso’s first year sees naira rally amid stubborn inflation
In his first year as Central Bank of Nigeria (CBN) governor, Olayemi Cardoso implemented significant monetary reforms aimed at stabilizing…
Customs integrates 23 Banks for seamless duty payments on B’Odogwu Platform
The Nigeria Customs Service (NCS) has introduced the B’Odogwu Information and Communication Technology (ICT) platform to streamline the import duty…
EFEMS, Eurobond issuance bolster FX reserves, Naira stability
The Central Bank of Nigeria (CBN) has taken significant steps to stabilize the foreign exchange (FX) market, including the introduction…
Inflation and Rising Raw Material Costs Challenge Confidence in Food, Beverage, and Textile Manufacturing
The Nigerian manufacturing sector is facing significant challenges, including inflation, high raw material costs, low government support, and a surge…
Foreign investments in telecoms crash by $99m – NBS
Foreign investments in Nigeria’s telecommunications sector dropped significantly in the third quarter of 2024, falling to $14.4 million, an 87%…
Nigerians Frustrated by NIN Modification Failures as Banks and NIMC Shift Blame
Nigerians face significant challenges with the National Identity Number (NIN) modification process, which has disrupted banking transactions and personal record…
WAPCO, Seplat, and Access Holdings boost stock market to N59.5trn
The Nigerian equities market closed last week with a bullish performance, as gains from Wapco, Seplat, and Access Holdings pushed…
FCMB Group Plc Reports 67% Profit Before Tax Growth to ₦91.8 Billion
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months…
FCMB begins cash rewards for customers
First City Monument Bank (FCMB) has launched the 10th edition of its “Millionaire Promo,” a nationwide campaign to reward and…
Public Private Partnership (PPP) Assets To Get Insurance Cover As From Next Year
The Infrastructure Concession Regulatory Commission (ICRC), in collaboration with the National Insurance Commission (NAICOM), will introduce new guidelines in 2025…
Africa Energy Bank rakes in $2.5bn, to commence operations March 2025
The Africa Energy Bank (AEB), a $5 billion initiative spearheaded by the Africa Petroleum Producers Organisation (APPO) and the Afreximbank,…