Exchange Disparity Narrows to 0.4%
Following recent market reforms and interventions by the Central Bank of Nigeria (CBN), there are indications of improvement in the…
Category: Business
‘AMCON’s New Leadership will Improve Debt recovery’
Raheem Ajayi, a public commentator, believes that the newly appointed Managing Director of the Asset Management Corporation of Nigeria (AMCON),…
CBN Issues Warning to Mortgage Banks and Financial Institutions
The Central Bank of Nigeria (CBN) has issued a stern warning to primary mortgage banks (PMBs), development finance institutions, and…
MTN and Airtel Increase Investments Despite Economic Challenges
Despite Nigeria’s economic challenges, two major telecommunication giants, MTN Nigeria Communications Plc and Airtel Africa Plc, bolstered their investments in…
SEC Introduces Guidelines for Digital Asset Service Providers
The Securities and Exchange Commission (SEC) has announced the development of new guidelines for licensing, registration, and screening of digital…
South Africa’s Current Account Deficit Widens Sharply in Fourth Quarter
South Africa’s current account deficit significantly expanded in the fourth quarter of 2023, reaching 2.3% of gross domestic product (GDP)…
Transcorp Power, FBN Holdings lift Market Cap by N194bn
The Nigerian Exchange witnessed a significant N194 billion gain in market capitalization on Tuesday, largely propelled by the strong performance…
Nigerian Exchange Tops Africa with 33.70% Gain
“The Nigerian Exchange (NGX) has emerged as Africa’s leading exchange in the first two months of 2024, boasting an impressive…
BIC Achieves Double-Digit Revenue Growth
BIC, a leading manufacturing corporation known for its stationeries, lighters, and shavers, has reported a substantial double-digit revenue growth across…
Dangote Plans Oil Trading Arm for Nigerian Refinery, Sources Say
Africa’s wealthiest individual, Aliko Dangote, is reportedly considering establishing an oil trading arm, possibly based in London, to oversee crude…
Binance Discontinues Naira Services Amid Government Scrutiny
Binance, a major crypto exchange, announced the discontinuation of its services supporting the Nigerian naira (NGN) on its platform, effective…
Transcorp Power Starts First Day of Trading Gaining 10%
Transcorp Power Plc made its debut on the Nigerian Exchange on Monday, March 4th, experiencing a remarkable 10% increase and…
Qatar Airways and Access Bank to Offer Flight Discounts Across Africa
Qatar Airways has joined forces with Access Bank to provide discounts on flights to the bank’s customers across Africa. According…
NICA Advocates for Inclusive Credit System for Students
The National Institute of Credit Administration (NICA) has urged for the establishment of a credit system that extends access to…
Equity Market Investors Lose N1.55tn
In February, investors in the Nigerian equity market suffered significant losses amounting to approximately N1.55 trillion due to the allure…
African Share of Global Trade Remains Below 3%: Report”
According to a report assessing progress on regional integration in Africa by the Economic Commission for Africa (ECA), the continent’s…
Forex Crisis: FG Slaps $10 Billion Fine on Binance
The Federal Government has imposed a $10 billion fine on cryptocurrency platform Binance, accusing it of exacerbating Nigeria’s forex crisis.…
India’s Rice Output to Drop for the First Time in 8 Years- Govt
India anticipates a decline in rice production for the first time in eight years during the 2023/24 season due to…
FRC to Enforce Stricter Codes for Accounting Professionals
The Financial Reporting Council (FRC) has issued a stern warning, indicating its intent to hold accounting professionals and companies accountable…
Nigeria’s Crackdown on Binance Sparks Concerns for Cryptocurrency Future
Nigeria’s recent crackdown on Binance, a prominent cryptocurrency platform, has ignited concerns regarding the future of cryptocurrency in the country.…
Delta State Government Partners with UK Firm for Mangrove Restoration Project
The Delta State Government recently finalized an agreement with a United Kingdom firm and other partners to restore mangrove forests,…
Naira Records First Gain at Official Market After Rate Hike
The Nigerian naira has experienced a slight appreciation of 0.39 percent in the official foreign exchange (FX) market, marking its…
Oil falls on US demand worries, interest rate fears
Oil prices experienced a decline on Thursday following a larger-than-expected build in U.S. crude stockpiles, raising concerns about sluggish demand.…
JUST IN: MPC Raises Interest Rate To 22.5%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has announced a significant increase in the benchmark…
Civil Society Leaders Urge Halt to Shell Petroleum Sale in Nigeria
A coalition of civil society leaders has united in a call for the cessation of the sale of Shell Petroleum…
Nigeria’s Economy Grapples with FX Market Distortions
Nigeria’s economy confronts formidable challenges stemming from global shocks, fiscal mismanagement, and a distorted foreign exchange (FX) market. Over the…
Naira Sees Mixed Fortunes in Official Exchange Rate
On February 26, 2024, the Nigerian Naira witnessed a notable appreciation against the US dollar, with the official exchange rate…
Russia Implements Six-Month Ban on Gasoline Exports
In a bid to stabilize prices amidst rising demand from consumers and farmers, Russia has announced a six-month ban on…
CEO of Air Peace Limited Reveals Reasons for Choosing Gatwick Airport
Allen Onyema, the Chairman and CEO of Air Peace Limited, revealed that the airline opted for Gatwick Airport to operate…
Leatherback Set to Expand Internationally After EFCC’s Probing
Leatherback, a financial services technology company, is set to expand internationally with offices in the United Kingdom (UK), Nigeria, Ethiopia,…