Goldman Sachs’s filing reveals $418 million in spot Bitcoin ETF holdings
Goldman Sachs disclosed a $418.65 million stake in U.S. spot Bitcoin exchange-traded funds (ETFs) in its latest 13F filing with…
Category: Business
AfDB Calls for Increased Private Sector Engagement in Climate Finance
At a recent conference in Kampala, Uganda, the African Development Bank emphasized the critical need for greater private sector involvement…
At N4.54tn, FGN Bonds, Sukuk Listings Out-pace Corporates on NGX
In the first seven months of 2024, Federal Government of Nigeria (FGN) Bonds and Sukuk listed on the Nigerian Exchange…
Nigeria’s International Payments Up 31%, Letters of Credit Outlay Down 63.3%
Nigeria’s overseas payments increased by about 31% from January to May 2024, reaching $3.31 billion. This rise is attributed to…
Olam Agri Commits N6.5bn to Sustainable Social Investment in Nigeria
Olam Agri has launched a significant expansion of its Corporate Responsibility and Sustainability (CR&S) strategy, committing M6.5 billion over the…
Credit to Private Sector Increased by 38% YoY in June
Credit to Nigeria’s private sector saw a significant increase of 38% year-on-year in June 2024, reaching N73.12 trillion, up from…
PTML Becomes Major Transshipment Hub to Europe, Receives First RoRo Ship from China
PTML Nigeria, the largest Ro/Ro multipurpose port terminal in West Africa, has achieved a significant milestone by establishing itself as…
US small business sentiment near 2-1/2-year high
U.S. small-business confidence rose to its highest level in nearly 2.5 years in July, indicating that concerns about a recession…
US shale companies produce more crude using fewer rigs
U.S. shale producers are increasing oil output by enhancing drilling efficiency without additional spending, as they extend wells and use…
Alleged 5.4bn shares: CBN, FBN Holdings ask court to dismiss Barbican Capital’s suit
The Central Bank of Nigeria (CBN) and FBN Holdings Plc are asking a Federal High Court in Lagos to dismiss…
DMO offers two new FGN bonds
The Debt Management Office (DMO) has launched two new Federal Government of Nigeria (FGN) savings bonds for subscription, priced at…
Equity market begins week with N404bn loss
The Nigerian equity market ended the first trading day of the week with a decline, as the All Share Index…
Nigeria’s fiscal deficit drops 29% to N2.82trn
Nigeria’s budget deficit decreased by 29% in the first quarter of 2024, falling to N2.83 trillion from N3.96 trillion in…
Providus Bank pays Unity price for national dreams
Providus Bank is set to acquire Unity Bank, a financially troubled but strategically important bank, following approval from the Central…
Air Peace: FG writes UK, threatens to bar British carriers from Lagos, Abuja airports
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has escalated the issue of Air Peace’s lack of slots at…
Inflation: 67% of MSMEs report decline in demand for their products and services – Report
A new report by Price Waterhouse Coopers shows that 67% of Nigerian Micro, Small, and Medium Enterprises (MSMEs) have seen…
Nigeria’s crude oil production now 1.3mbpd – OPEC
Nigeria’s average daily crude oil production saw a minor increase to 1.307 million barrels per day in July, as per…
Zenith Bank, Access, FBN Holdings, 7 others receive highest FX from CBN
The Central Bank of Nigeria (CBN) recently held a Retail Dutch Auction System (RDAS) to address the growing demand for…
Popoola commends FCMB’s digital approach in N110.9bn public offer
The Group CEO of Nigeria Exchange Group (NGX), Temi Popoola, commended FCMB Group for its digital innovation in their ongoing…
Currency devaluation threatens NGX’s leadership as Africa’s top stock market
The Nigerian Exchange Limited (NGX) started 2024 with strong performance, recording a 26.43% year-to-date return by the end of January,…
Arthur Eze’s Oranto Petroleum signs oil deal in Venezuela
Atlas Oranto Petroleum International Limited (AOPI) has expanded its global footprint by signing an oil prospecting agreement in Venezuela. The…
Minister writes UK over Heathrow slot for Air Peace to avoid diplomatic row
Festus Keyamo, Nigeria’s Minister of Aviation and Aerospace Development, has lodged a formal complaint with his British counterpart over the…
Barbican Capital sues First Bank for wrongly stating shareholding
Barbican Capital Limited, the largest shareholder of FBN Holdings, has filed a lawsuit against the bank to address a contentious…
Nigeria’s debt service-to-revenue may return to 98% in 2 years, economist warns
Economist Paul Alaje criticized the Nigerian government’s simultaneous removal of petroleum subsidies and devaluation of the naira, calling these actions…
NASENI launches app for CNG conversion
The National Agency for Science and Engineering Infrastructure (NASENI) has introduced the MY-CNG App to facilitate the conversion of e-hailing…
NiMet’s air quality monitoring network in deplorable state
A recent audit conducted by the Nigerian Meteorological Agency (NiMet) has found its air quality monitoring stations in a dire…
Futures rise on dovish Fed comments after jobs data
U.S. stock futures advanced on Friday, buoyed by dovish comments from Federal Reserve officials and robust labor market data. Nvidia…
Global oil demand needs to rise faster to absorb OPEC+ hike
Global oil demand growth needs to accelerate in the coming months to absorb the increased supply that OPEC+ plans to…
New CBN circular clarifies existing rule on certificate of capital importation for forex repatriation, divestment
The Central Bank of Nigeria (CBN) has issued a new circular detailing the documentation required for foreign investment divestments and…
FG To Pay Julius Berger N280bn To Complete Abuja- Kano Highway
The Federal Government has allocated N20 billion each month to Julius Berger Plc for the dualization of an 82-kilometre section…