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Economy
FG unveils Digital Trade Desk to boost Nigerian startup funding to $5bn
The Nigerian government has introduced a new initiative called the Digital Trade Desk, aimed at accelerating…
US Tightens AI Chip Export Controls Amid Backlash from Tech Industry
The United States is introducing stricter regulations on the export of advanced AI chips and related technology to…
Nigerian Banks’ Market Capitalisation Hits N7.90tn
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying…
The oil and gas sector received 31.1% of banks’ credit allocation in Q3 2024 –CBN
In the third quarter of 2024, the oil and gas sector secured 31.1% of Nigeria’s total credit allocation from…
CBN expected to hold MPR for most of 2025
Asset management firm Meristem Securities has projected that the Central Bank of Nigeria (CBN) will likely…
Nigerian Stocks Surge by N1.14tn as Trend Lifts Market
The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn.…
Recapitalization and Regulatory Shifts Reshape Nigerian Banking Sector in 2024
The Nigerian banking sector experienced a transformative 2024, driven by the Central Bank of Nigeria's (CBN)…
Lagos Speaker Faces Alleged Financial Mismanagement Scandal
Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is facing renewed allegations of financial…
Inflation and Naira Stabilisation Expected in 2025
In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for…
Telecom tariff hike imminent – FG
The Federal Government has announced plans to increase telecommunication tariffs, though not as high as the 100…
Micro Pension Plan Struggles to Gain Traction Despite Policy Efforts
Five years after its launch in 2019, Nigeria’s Micro Pension Plan (MPP) remains underwhelming in its adoption,…
Concessional Borrowing Key to Addressing Nigeria’s Debt Challenges
Nigeria's rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and…
Foreign inflows soar by 63.7% to $3.82bn in 9 months
Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators…
Investors Gain Over N1 Trillion in Five Days as Nigerian Stock Market Surges
The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2%…
Net forex inflow fell to $14bn in Q3 – CBN
The Central Bank of Nigeria (CBN) reported a 2.97% decline in net foreign exchange inflow in Q3 2024, totaling…
Macro Economic Challenges Thrust 12 Banks’ Operating Expenses to N5.18tn
Twelve Nigerian banks listed on the Nigerian Exchange Limited (NGX) reported a combined operating expense of N5.18…
PenCom, finance ministry working to pay retirees – DG
The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’…
Naira rebound seen in 2025 on higher FX inflows
The naira is expected to recover in 2025, driven by increased foreign exchange inflows, reduced petrol and food…
SEC Draft Rules Open Pension Funds to Commercial Papers Investment
The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume…
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative…
CBN caps PoS daily withdrawal at N100,000 to boost cashless economy
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using…
Aradel Holdings and 41 Others Boost Nigerian Stock Market by N258bn
The Nigerian stock market maintained its upward trend, fueled by price gains in Aradel Holdings Plc and 41 other…
SEC seeks policy support to drive $1tn economy
The Securities and Exchange Commission (SEC) has called for stronger policy support to help drive Nigeria's…
$1 trn economy is necessity for prosperity, resilience of Nigeria — SEC DG
The Securities and Exchange Commission (SEC) has emphasized that achieving a $1 trillion economy is essential for…
Social dialogue crucial for economic development – ILO
The International Labour Organisation (ILO) has emphasized the critical role of social dialogue in addressing…
ICPC Recovers N30 Billion and $966900 in Cash Over One Year
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced the recovery of N29.7…
Africa Faces $74 Billion Debt Servicing Challenge in 2024 – AfDB
African nations, including Nigeria, require approximately $74 billion for debt servicing in 2024, highlighting the…
W’Bank plans $1.65bn loans for Nigeria next year
The World Bank plans to approve three major loans for Nigeria in 2025, totaling $1.65 billion, aimed at addressing…
CBN’s Market Discipline Boosts Banking Efficiency and Transparency
The Central Bank of Nigeria (CBN) has intensified efforts to enhance banking efficiency and transparency through…
NIPC seeks partnerships to attract, retain investments
The Nigerian Investment Promotion Commission (NIPC) has reinforced its commitment to driving economic growth by…