Manufacturers Seek Energy Security to Boost Industrial Growth
The Manufacturers Association of Nigeria (MAN) convened stakeholders at the Manufacturers Energy Security Summit in Lagos to address Nigeria’s critical…
Category: Business
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 portfolio.…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the…
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 record-breaking loan…
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 funds are safe. Speaking…
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 its pro-rata budget by…
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 rights issues to raise…
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 of N60…
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 revenue generation for…
Dangote Refinery resumes importation of crude oil from US after three-month break
The Lagos-based mega Dangote refinery has resumed importing crude oil from the United States after a three-month pause, as the…
Investors favour equity over debt as private investment rises to $2.27bn
Private capital investment in Africa reached $2.27 billion in Q3 2024, with equity emerging as the dominant financing choice, according…
Heirs Insurance Chief Urges AI Adoption to Transform West Africa’s Insurance Industry
Niyi Onifade, Head of Heirs Insurance Group, emphasized the transformative potential of Artificial Intelligence (AI) in revolutionizing the insurance sector…
Lasaco Assurance Reports 29% Revenue Growth in Q3 2024
Lasaco Assurance Plc has shown strong performance in its third-quarter financial results for 2024, reporting insurance revenue of N17.07 billion.…
Stanbic IBTC Launches DiSEP 4.0 Empowers Nigerian Youths
Stanbic IBTC Holdings, a member of the Standard Bank Group, has introduced the fourth edition of its Digital Skills Empowerment…
NAICOM Promotes Takaful to Enhance Financial Resilience
The National Insurance Commission (NAICOM) has highlighted the importance of Takaful, an Islamic insurance system rooted in shared responsibility and…
Naira Faces Further Depreciation Amid Festive Season Demand
Analysts at Meristem Securities have projected a worsening depreciation of the naira due to heightened demand for foreign exchange during…
Noor Takaful Unveils Health Insurance and Digital Solution
Noor Takaful Insurance Limited has launched NOOR Health, a Health Maintenance Organization (HMO) designed to provide affordable, high-quality healthcare aligned…
Minimum Wage Hike to Raise Nigeria’s Personnel and Pension Costs by N3.57 Trillion
The Federal Government projects personnel and pension expenses to rise sharply in 2025, driven by the implementing of the new…
FirstBank hosts inaugural China-Africa interbank forum
FirstBank is set to host the inaugural China-Africa Interbank Association (CAIBA) Forum in Abuja, marking the first time the event…
Lafarge WAPCO and Others Propel Equity Market with N136bn Gain
The Nigerian equity market recorded a significant boost on Tuesday, gaining N136 billion in market capitalization. The All-Share Index rose…
CBN Refutes Allegations Of Withholding Foreign Currency Transfers
The Central Bank of Nigeria (CBN) has denied allegations that it withholds foreign currency transfers into Nigerians’ accounts. The bank…
FBN Holdings Rebrands to First Holdco Plc
FBN Holdings Plc has officially rebranded to First Holdco Plc following shareholder approval at its 12th Annual General Meeting (AGM).…
Nigeria’s Investment Appetite Grows as Mutual Funds Rise 89.5% to N3.8trn
Nigerian investors’ preference for secure, high-yielding opportunities has driven the Net Asset Value (NAV) to N3.781 trillion in early November…
Investors’ Interest in Zenith Bank Boosts Nigerian Stock Market
The Nigerian stock market opened the week with a slight gain of 0.03%, fueled by renewed investor interest in Zenith…
Decline in Commercial Paper and Corporate Bond Issuances Amid Rising Borrowing Costs
In the first half of 2024, the Nigerian capital market saw a significant drop in commercial paper and corporate bond…
UK Urges Nigeria to Tackle Market Distortions by Government Agencies
The United Kingdom has called on Nigeria to accelerate its economic reforms, particularly by addressing market-distorting practices linked to state-owned…
Zenith Bank Tech Fair Showcases Future of Digital Finance and AI
The Fourth Edition of the Zenith Bank Tech Fair, themed “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives The…
Nigeria’s foreign debt servicing soars to N3.8trn in 8 months
Nigeria’s foreign debt servicing costs have risen sharply by 107.7%, reaching N3.8 trillion in just eight months, far exceeding the…
Unity Bank Boosts Savings Culture with Financial Literacy App
Unity Bank Plc has unveiled plans to launch a financial literacy app targeted at children and teenagers to cultivate a…