Real Time Financial News Website
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC leads with a market cap of N1.47tn, driven by a…
In the third quarter of 2024, the oil and gas sector secured 31.1% of Nigeria’s total credit allocation from deposit money banks (DMBs), marking a notable increase from the previous…
Asset management firm Meristem Securities has projected that the Central Bank of Nigeria (CBN) will likely maintain its Monetary Policy Rate (MPR) at 27.50% for much of 2025. This stance…
The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn. The All-Share Index (ASI) rose by 1.80%, ending at 105,451.06 points, while…
The Nigerian banking sector experienced a transformative 2024, driven by the Central Bank of Nigeria’s (CBN) recapitalization directive to support a $1 trillion economy. Banks were mandated to raise their…
Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is facing renewed allegations of financial impropriety and mismanagement, raising questions about accountability in the state’s leadership. Reports from People’s…
In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for the economy. During the First Bank outlook event, economists predicted that while…
The Federal Government has announced plans to increase telecommunication tariffs, though not as high as the 100 percent requested by operators. Minister of Communications, Innovation, and Digital Economy, Dr. Bosun…
Five years after its launch in 2019, Nigeria’s Micro Pension Plan (MPP) remains underwhelming in its adoption, despite deliberate policy initiatives by the National Pension Commission (PenCom). By June 2024,…
Nigeria’s rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and financial experts. The surge is attributed to factors such as policy-induced…
Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators (IMTOs), reaching $3.82 billion in the first nine months of 2024, compared to $2.33 billion…
The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2% year-to-date capital gain, surpassing the country’s inflation rate of 34.6% in November. Last…
The Central Bank of Nigeria (CBN) reported a 2.97% decline in net foreign exchange inflow in Q3 2024, totaling $14.46 billion compared to $14.89 billion in Q2. However, this represents…
Twelve Nigerian banks listed on the Nigerian Exchange Limited (NGX) reported a combined operating expense of N5.18 trillion in the first nine months of 2024, marking a 101.9% increase compared…
The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’ benefit payments. Speaking at a media session in Lagos, PenCom’s Director-General, Omolola Oloworaran,…
The naira is expected to recover in 2025, driven by increased foreign exchange inflows, reduced petrol and food importation, and improved oil exports. Experts attribute this optimism to domestic refining…
The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume investments in commercial papers. This follows a prior directive from the National Pension…
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation efforts. The country’s GDP growth slowed from 1.4% in the…
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using point-of-sale (PoS) terminals to boost the country’s cashless economy. The policy, outlined in…
The Nigerian stock market maintained its upward trend, fueled by price gains in Aradel Holdings Plc and 41 other stocks. The Nigerian Exchange Limited All Share Index (NGX-ASI) rose by…
The Securities and Exchange Commission (SEC) has called for stronger policy support to help drive Nigeria’s ambition of reaching a $1 trillion economy, emphasizing the capital market’s crucial role in…
The Securities and Exchange Commission (SEC) has emphasized that achieving a $1 trillion economy is essential for Nigeria’s prosperity and resilience. Dr. Emomotimi Agama, the SEC Director General, stated that…
The International Labour Organisation (ILO) has emphasized the critical role of social dialogue in addressing global labor, economic, and social challenges, as highlighted in its Social Dialogue Report 2024. The…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced the recovery of N29.7 billion and $966,900 in foreign currency within the past year, with the funds deposited at…
African nations, including Nigeria, require approximately $74 billion for debt servicing in 2024, highlighting the continent’s worsening debt crisis. Speaking at the launch of the Debt Management Forum for Africa…
The World Bank plans to approve three major loans for Nigeria in 2025, totaling $1.65 billion, aimed at addressing the country’s pressing developmental challenges. These loans will focus on improving…
The Central Bank of Nigeria (CBN) has intensified efforts to enhance banking efficiency and transparency through stricter enforcement of market discipline. This initiative underscores the critical role of the financial…
The Nigerian Investment Promotion Commission (NIPC) has reinforced its commitment to driving economic growth by attracting new investments and retaining existing ones. Speaking during a media parley in Abuja, the…
The Federal Government of Nigeria, in collaboration with the World Bank, has earmarked $600 million to rehabilitate 200,000 kilometers of rural roads under the Rural Access and Agricultural Marketing Project…
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of N4.5 trillion in currency circulation by October 2024. While the money supply…