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 trillion in the…
Category: Economy
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’ benefit payments. Speaking…
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 importation, and…
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 investments in commercial…
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation…
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 point-of-sale (PoS) terminals…
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 stocks.…
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 ambition of reaching a…
$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 Nigeria’s prosperity and…
Social dialogue crucial for economic development – ILO
The International Labour Organisation (ILO) has emphasized the critical role of social dialogue in addressing global labor, economic, and social…
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 billion and $966,900 in foreign…
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 continent’s worsening debt crisis. Speaking…
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 the…
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 stricter enforcement of market…
NIPC seeks partnerships to attract, retain investments
The Nigerian Investment Promotion Commission (NIPC) has reinforced its commitment to driving economic growth by attracting new investments and retaining…
FG, World Bank invest $600m on rural roads
The Federal Government of Nigeria, in collaboration with the World Bank, has earmarked $600 million to rehabilitate 200,000 kilometers of…
High currency in circulation fails to tame cash scarcity
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of N4.5 trillion…
Nigeria Needs Robust Policies To Boost Foreign Trade – Analysts
Analysts have urged Nigeria’s fiscal and monetary authorities to adopt strategic policies aimed at enhancing domestic production and reducing reliance…
Firm partners NexHub to boost creative exports
Bruit Costaud, a leading policy communications and government affairs firm, partnered with NexHub to amplify Nigeria’s global creative exports. The…
World Bank may approve $500m loan to Nigeria today
The World Bank is expected to approve a $500 million loan for Nigeria to enhance rural access and agricultural marketing…
NAICOM ICRC Set Agenda for Insurance of Public-Private Assets
The National Insurance Commission (NAICOM) and the Infrastructure Concession Regulatory Commission (ICRC) have agreed to collaborate to ensure proper insurance…
AFD extends additional 50m Euros funding to DBN
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria (DBN)…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions (ASSIBIFI), discussed the ongoing…
Foreign portfolio inflows boost Nigeria’s FX reserves by $7.7bn
Nigeria’s external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024, driven by foreign portfolio…
Forex Challenges Blamed for High Petrol Prices in Nigeria
Operators in Nigeria’s downstream oil sector attribute the high cost of locally refined petrol to dollar-denominated charges on refining and…
CBN Debunks Claims of FX Sales to BDCs at N1,301 per Dollar
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change (BDC) operators…
House of Representatives Probes CBN Over Naira Scarcity
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN) following a widespread cash…
Tax Reform Bills: Northern Leaders Not Well-Informed — Onuesoke
Chief Sunny Onuesoke, a prominent member of the Peoples Democratic Party (PDP) and former governorship candidate in Delta State, has…
Oil & Gas Industry: PENGASSAN Kicks Against Flagrant Abuse Of Expatriate Quota
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns about the high number of expatriates…
NPA, Nigerdock finalize $1bn Snake Island Port agreement
In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized…