Real Time Financial News Website
Analysts have urged Nigeria’s fiscal and monetary authorities to adopt strategic policies aimed at enhancing domestic production and reducing reliance on imports. This follows a recent trade report from the…
Bruit Costaud, a leading policy communications and government affairs firm, partnered with NexHub to amplify Nigeria’s global creative exports. The collaboration aims to leverage both organizations’ expertise to position Nigeria…
The World Bank is expected to approve a $500 million loan for Nigeria to enhance rural access and agricultural marketing under the Rural Access and Agricultural Marketing Project Scale Up…
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have agreed to collaborate to ensure proper insurance coverage for public-private partnership (PPP) projects in Nigeria. During a…
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria (DBN) to bolster financial support for women entrepreneurs across Nigeria. A…
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), discussed the ongoing recapitalization process in the banking sector and its potential impact…
Nigeria’s external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024, driven by foreign portfolio investments (FPIs). The surge in FPIs was largely due to…
Operators in Nigeria’s downstream oil sector attribute the high cost of locally refined petrol to dollar-denominated charges on refining and crude importation. The Major Energies Marketers Association of Nigeria revealed…
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change (BDC) operators at N1,301 per dollar. This clarification came after a fake…
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN) following a widespread cash shortage affecting commercial banks and causing hardship for citizens. During…
Chief Sunny Onuesoke, a prominent member of the Peoples Democratic Party (PDP) and former governorship candidate in Delta State, has addressed the ongoing debate surrounding the Tax Reform Bills, specifically…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns about the high number of expatriates in Nigeria’s oil and gas sector, highlighting the negative impact…
In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized an agreement to develop the $1 billion Snake Island Port.…
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that still owe foreign airlines a combined total of $1.7 billion in blocked funds, as of…
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt Nigeria’s financial sector and economy. Similar measures in 2017 prompted U.S. companies…
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to $4.05 billion, up from $3.04 billion in October, according to…
President Bola Tinubu has said Nigerians are now seeing the positive results of his administration’s reforms. Since he assumed office in May 2023, Tinubu has scrapped subsidy on petroleum products…
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says the organisation is strongly in support of the economic reforms introduced in Nigeria under President Bola Tinubu. Speaking…
A top court in the British Virgin Islands has granted Chinese investors Zhongshan the authority to seize £20 million ($25 million) from Nigeria’s foreign denominated assets over an Ogun trade…
First City Monument Bank (FCMB) is working with EStars to bring esports education to Nigerian schools. They want to introduce Nigerians aged 7 to 14 across primary and secondary schools…
The Central Bank of Nigeria (CBN) has released guidelines for banks to implement a new foreign exchange deposit scheme aimed at integrating dollar bills held outside the formal financial system.…
In a recent interview, IMF’s Deputy Division Chief, Antonio David, outlined a strategic approach for African nations to mobilize resources and stabilize their economies through structured reforms. As Mission Chief…
Nigeria’s fiscal deficit reached N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the first quarter, underscoring a widening gap between federal government spending and revenue.…
The Naira saw a slight appreciation in the parallel market on Monday, rising to N1,725 per dollar from N1,735 last week. However, the Naira experienced a depreciation in the Nigerian…
With the U.S. presidential election approaching, Nigerian analysts weigh the potential impacts of either Donald Trump or Kamala Harris administration on Nigeria. Kamala Harris, who secured the Democratic nomination after…
In a significant turnaround, the Nigerian Autonomous Foreign Exchange Market (NAFEM) has reported total inflows reaching a five-month high of $3.04 billion, reflecting a 40.2% increase month-on-month. This surge is…
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central Bank of Nigeria (CBN) to expand financing options for Nigerian…
The Nigerian Federal Government has announced a major initiative to support 600,000 small-scale farmers to enhance food production and curb inflation. This was revealed by Finance Minister Wale Edun during…