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Finance
Credit to Private Sector Increased by 38% YoY in June
Credit to Nigeria's private sector saw a significant increase of 38% year-on-year in June 2024, reaching N73.12!-->…
Nigeria’s debt service-to-revenue may return to 98% in 2 years, economist warns
Economist Paul Alaje criticized the Nigerian government’s simultaneous removal of petroleum subsidies and!-->…
Net FX flows increase by 55% to $25.4 billion in six months – CBN
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase!-->…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria's revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas!-->…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings!-->…
FG’s revenue surpassed budgetary target, says minister
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government's!-->…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the!-->…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the!-->…
Transcorp Hotels posts 188% profit growth in 2024 half year
Transcorp Hotels posted a profit before tax of N10.5 billion in the first half of 2024, a remarkable 188% increase!-->…
Thailand’s Energy Absolute share prices plunge after resumption of trading
Energy Absolute (EA.BK), a leading Thai renewable energy firm, saw its share prices plummet by nearly 30% during!-->…
Consumer spending down as Nigerians remain gloomy on economy
Nigerians reduction in purchasing power have led to a decline in electronic payment transactions and this has been!-->…
Equity market down as investors eye inflation, H1 earnings reports
The Nigerian Exchange (NGX) experienced continued declines last week due to profit-taking and sell pressure on!-->…
Zenith Bank set to unveil capital-raising drive
Zenith Bank Plc is preparing to finalize its capital raising efforts to meet the Central Bank of Nigeria's new!-->…
NIDF posts N8.37bn post-tax profit
The Nigeria Infrastructure Debt Fund (NIDF) reported a 15.8% increase in post-tax profit for the first half of!-->…
How a Trump election victory could ruffle Latin American markets
Investors are preparing for various scenarios in case former President Donald Trump wins back the White House in!-->…
DBS CEO says bank hunting for bolt-on deals, not game-changing ones
Asia's wealthy and their bankers are optimistic about a recovery in China, betting that exposure to the region,!-->…
Nigeria’s Treasury Bills debt surges to N10.4 trillion, largest balance in…
Nigeria's Treasury Bills (T-Bills) debt has surged to a record N10.4 trillion, marking a 60% increase in just!-->…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32%!-->…
Kogi IGR Increases To N23.5bn
Kogi State's internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over!-->…
FBN Holdings gross earnings soared by 181% in Q1
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest!-->…
China asks Visa, Mastercard to cut card fees, Bloomberg News reports
China is advocating for Visa and Mastercard to decrease their bank card transaction fees in the country, aiming to!-->…
Citigroup Eyes European Expansion Despite Political Instability
Citigroup (C.N) is poised to expand its business in Europe despite the continent's political volatility, which has!-->…
Presidential tax committee recommends N800/$ Customs duty rate
Nigerian businesses are likely to welcome a new proposal that could make planning and budgeting easier. The!-->…
Walmart Ditches Capital One as Credit Card Issuer After Service Issues
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This!-->…
AfDB Pours $1.44 Billion into Nigeria’s Infrastructure Development
The African Development Bank (AfDB) is stepping up its support for Nigeria's infrastructure needs with a!-->…
National, state assemblies to spend N724bn in 2024
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total!-->…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the!-->…
Pension Fund Managers Increase Stock Investments to N550 bn
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion,!-->…
FG expects $2.2 billion World Bank loan and AfDB budget
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World!-->…
Transcorp hotel reports 36.2% revenue growth
Transcorp Hotel Plc has revealed a notable increase of 36.2% in its revenue for the year 2023. During a!-->…