Browsing Category
Finance
Trump’s new cryptocurrency surges to $10bn market value
The digital token $TRUMP, launched on Friday, saw its price skyrocket from less than $10 on Saturday to a peak of…
Markets Rally as Trump Returns to White House
As Donald Trump prepares for his second term as U.S. president, investors are cautiously optimistic about his…
High Interest Rate: Manufacturers cut back on bank loans
The Central Bank of Nigeria’s (CBN) aggressive monetary tightening has driven manufacturers to cut back on bank…
Government Ensures Quality Service as Telecom Tariff Hike Looms
The Nigerian government has pledged to improve telecom service quality as it prepares for an upcoming tariff…
Equity market loses N1.45tn in one week
The Nigerian equity market experienced significant losses last week, dropping by 2.94% to close at 102,353.68…
Nigeria’s Current Account Surplus Strengthens Forex Stability
Nigeria recorded a current account (CA) surplus of $6.1 billion in Q3 2024, up from $3.9 billion in Q2, marking…
CBN Unveils Digital Payment and Document Management Solutions
The Central Bank of Nigeria (CBN) has launched two major initiatives: the Document Flow (DocFlow) System and the…
FG to Establish Farmers Database for Targeted Support
The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has signed an agreement…
FG’s Economic Policies to Boost Marketing Industry in 2025
Industry experts predict Nigeria’s marketing and advertising sector will benefit from the federal government's…
Nigeria’s Inflation Hits 34.80% Dampening Hopes for Rate Cut
Nigeria’s inflation rate surged to 34.80% in December 2024, dampening expectations for a potential rate cut by the…
Crypto ETFs Face Innovation Potential in 2025 but Anticipate Weaker Demand
As the cryptocurrency exchange-traded fund (ETF) market enters 2025, it holds significant opportunities for…
Naira fall takes $310bn toll on economy
Nigeria's economy has suffered a $310 billion loss in GDP over the past decade, driven by naira devaluation, low…
Telcos, ICT firms owe banks N1.69trn as tariff hike looms
Telecommunications and ICT companies in Nigeria owed banks N1.69 trillion as of September 2024, reflecting a…
Investors lose N51bn as equity market shrinks
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn.…
Nigeria’s Foreign Trade by LC Payments Down 52.5% YoY to $506.1m
Nigeria’s foreign trade by Letter of Credit (LC) payments declined by 52.5% Year-on-Year (YoY) to $506.1 million…
Investors Return Rise by N1.13trn as Stock Market Surge Further
In the second week of trading in 2025, Nigerian stock market investors experienced a significant surge, in market…
GTCO’s N400.5bn Public Offer Falls Short by 48%
Guaranty Trust Holding Company Plc (GTCO) has revealed that its N400.5 billion public offer was undersubscribed by…
Inflation and Naira Stabilisation Expected in 2025
In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for…
Naira down to N1,655/$ in parallel market
The Naira experienced further depreciation in the parallel market, sliding to N1,655 per dollar from N1,650 the…
African Tech Startups Raise $2.2B Despite Challenges
African tech startups, particularly in Nigeria, Kenya, and South Africa, secured $2.2 billion in funding in 2024…
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…
NGX launches equity-based commodity index, hints on rebalancing
The Nigerian Exchange Limited (NGX) has launched a new Equity-Based Commodity Index aimed at tracking the…
CBN Rules Out Further Naira Devaluation in 2025
The Central Bank of Nigeria (CBN) has reassured the public that it will not devalue the naira further in 2025,…
Rental income still low at 5% – Stakeholders
Rental income in Nigeria remains low, averaging between 3% and 5%, according to Olufemi Seyi, CEO of Casafina…
CBN’s 2024 Agenda Focused on Combating Inflation and Driving Economic Reforms
In 2024, the Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, implemented bold monetary policies to…
Fed May Cut Rates by Over 50 Basis Points in 2025 Says BCA Research
BCA Research predicts the Federal Reserve will ease interest rates by more than 50 basis points in 2025, exceeding…
CIS urges FG to leverage commodities ecosystem for GDP growth
The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government (FG) to prioritize the development…
Banks’ capital adequacy ratio rose to 14% in Q3 –CBN
The Central Bank of Nigeria (CBN) reported that the banking sector's Capital Adequacy Ratio (CAR) rose to 14.01%…
AfDB’s SEFA Invests $20m in ARM-Harith, ACV Fund to drive sustainable…
The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has committed $20 million to drive…
Innovation Crucial for Addressing Nigeria’s Energy Challenges
Manufacturers in Nigeria's electrical and electronics sector have been urged to leverage innovation to address the…