Nigeria World Bank Push For Financial Inclusion To Reach 28 Million Unbanked Citizens
At the 2024 International Financial Inclusion Conference in Lagos, Nigeria’s Federal Government, the World Bank, and global stakeholders committed to…
Category: Business
Nigeria Seeks $5 Billion Saudi Trade Facility to Propel Economic Reform
Nigeria is in discussion with Saudi Arabia to secure a $5 billion trade facility as part of its ongoing economic…
CBN Launches New Initiatives to Advance Financial Inclusion in Nigeria
At the International Financial Inclusion Conference in Lagos, the Central Bank of Nigeria (CBN) unveiled three new initiatives aimed at…
Bitcoin jumps 28% since Trump’s win
Bitcoin soared by 28% since Donald Trump’s recent U.S. presidential victory, hitting an all-time high of $88,701. The cryptocurrency’s market…
PenCom Targets Self-Employed Professionals with Enhanced Micro Pension Scheme
The National Pension Commission (PenCom) has announced plans to expand and promote its micro pension initiative among self-employed professionals, including…
NSITF Disburses N6.6 Billion in Compensation and Expands Employee Welfare Coverage Across Nigeria
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries…
Nigerian Manufacturers Face Rising Energy Costs and Operational Challenges in H1 2024
In the first half of 2024, Nigerian manufacturers spent a staggering N238.31 billion on alternative energy sources due to unreliable…
ACCESS Bank UK Opens First Branch in Hong Kong to Boost Africa Asia Trade
ACCESS Bank UK has officially launched its new branch in Hong Kong, marking a significant milestone as the first West…
African Alliance to court nullify NAICOM’s dissolution of our board
African Alliance Insurance Plc has taken legal action against the National Insurance Commission (NAICOM) at the Federal High Court in…
NAICOM hosts ibsurers committee
The 16th Insurers Committee meeting, the first under the new Commissioner for Insurance, Mr. Segun Omosehin, was recently held with…
Naira closes at N1,681.42 at official market
The naira on Monday maintained losses, closing at N1,681.42 per dollar in the official Nigerian Autonomous Foreign Exchange Market (NAFEM),…
Investment in Nigerian Manufacturing Surges Despite Economic Challenges
In the first half of 2024, Nigeria’s manufacturing sector recorded a 30% increase in investments, reaching N250.13 billion, with significant…
FX Scarcity Weighed Down Nigeria’s Ranking in Africa Financial Markets Index 2024
Nigeria secured third place in the 2024 Absa Africa Financial Markets Index (AFMI) with an overall score of 64, following…
Nigeria-Taiwan Partnerships Set to Drive Growth in Africa’s Key Sectors
At the 2024 Taiwan-Africa Business Forum in Taiwan, Gabriel Idahosa, President of the Lagos Chamber of Commerce and Industry (LCCI),…
Exchange rate to hit N1.993/$ by 2028 — Fitch
Fitch Solutions projects a significant depreciation of Nigeria’s naira, forecasting it could fall to N1,993 per US dollar by 2028.…
RoutePay expands access for under-banked businesses
RoutePay, a fintech company, has expanded access to formal banking for under-banked individuals and Small and Medium Enterprises (SMEs) in…
Nigeria and South Africa Lead Africa’s Crypto and Stablecoin Surge Amid Economic Challenges
Nigeria and South Africa are at the forefront of Africa’s growing cryptocurrency adoption, driving significant on-chain activity in Sub-Saharan Africa.…
Banks’ investment securities more than double on juicy yields
Nigerian banks have experienced a significant 145 percent increase in investment securities over the first nine months of 2024, driven…
FIRS Chief Highlights Taxpayer-Friendly Reforms at Lagos Trade Fair
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, emphasized the agency’s commitment to becoming more…
Africhange Secures IMTO License to Boost Remittance Services in Nigeria
Africhange, a leading cross-border remittance service, announced that its Nigerian subsidiary, Currenzo, has received the International Money Transfer Operator (IMTO)…
Heirs Energies Charts Africa’s Energy Future at AEW 2024 with Bold Solutions and Strategic Vision
Heirs Energies, a top African energy firm, significantly impacted the African Energy Week (AEW) 2024 held in Cape Town. CEO…
Nigeria Inflation Expected to Remain High Amid Rising Costs
Nigeria’s inflation rate is projected to remain elevated, with October inflation anticipated to reach 33.10%, largely due to rising fuel…
FCMB Offers ₦30 Million Clean Energy Loans for Homes and SMEs
First City Monument Bank (FCMB) has boosted it’s energy finance loan, offering up to ₦30 million to help Nigerian households and…
Banks free to trade with deposited FX – CBN
The Central Bank of Nigeria (CBN) has released guidelines for banks to implement a new foreign exchange deposit scheme aimed…
Global Markets React as Trump Election Victory Boosts US Stocks and Cryptos
Financial markets worldwide responded variably to Donald Trump’s victory in the U.S. presidential election. Asia, response was generally bearish, with…
FBN Holdings Shares Surge as Rights Issue Launches to Bolster Capital Base
FBN Holdings’ share price rose by 1.65% on the Nigerian Exchange Limited (NGX) on Wednesday, closing at N27.65 its highest…
IMF Chief Highlights Four Steps In Managing Systematic Reforms
In a recent interview, IMF’s Deputy Division Chief, Antonio David, outlined a strategic approach for African nations to mobilize resources…
AIICO Insurance Urges Collaboration to Strengthen Nigeria’s Agricultural Sector
AIICO Insurance Plc has emphasized the importance of collaboration among stakeholders to advance Nigeria’s agricultural sector. Speaking at AIICO’s annual…
Zenith Bank Completes Major IT Upgrade to Boost Customer Experience and Digital Innovation
Zenith Bank Plc has announced the completion of a comprehensive IT infrastructure upgrade aimed at enhancing customer experience across its…
Nigeria’s Fiscal Deficit Hits N4.53 Trillion in Q2 2024 as Spending Outpaces Revenue Growth
Nigeria’s fiscal deficit reached N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the first quarter,…