VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic Vision by 2030
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion (PreCEFI) as part of the Nigerian…
Category: Finance
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
Nigerian Manufacturers Face N666bn Cost Surge Amid Inflation and Economic Challenges”
In 2024, the cost of sales for 10 major manufacturing and consumer goods companies in Nigeria surged to N665.95bn, marking…
Ghana National Gas Company Faces Growing Debt Crisis Amid VRA Payment Struggles
The Ghana National Gas Company Limited (GNGLC) is grappling with a deepening financial crisis, largely stemming from the inability of…
Ghana Faces Revenue Dilemma Amid Proposed Tax Cuts
The Ghanaian government is considering removing key taxes, including the e-levy, betting tax, and emission levy, in response to concerns…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de Change (BDC)…
Mahama nominates Dr. Johnson Asiamah as BoG Governor-GHANA
President John Dramani Mahama has nominated Dr. Johnson Asiamah as the new Governor of the Bank of Ghana, pending approval…
ABCON seeks review of capital requirements for BDCs
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to reconsider…
NGX Delists Tourist Company of Nigeria, Union Homes Savings & Loans Over Non-Compliance
The Nigerian Exchange Limited (NGX) has delisted two companies Tourist Company of Nigeria Plc and Union Homes Savings & Loans…
PenCom: Informal Sector RSA Holders Save N967m Under Micro Pension Plan
The National Pension Commission (PenCom) has disclosed that 12,241 Retirement Savings Account (RSA) holders in the informal sector have contributed…
Nigeria’s Electronic Transactions Surge to N1.08 Quadrillion in 2024, Up 79%
Nigeria’s electronic payment ecosystem experienced remarkable growth in 2024, with transactions reaching an all-time high of N1.08 quadrillion. This marks…
Unilever posts N4.9bn profit
Unilever Nigeria Plc posted a profit of N4.9bn for the fourth quarter of 2024, reflecting a 29% decline from the…
Crypto exchange Crypto.com to delist Tether’s USDT,9 others in Europe by Jan. 3
Cryptocurrency exchange Crypto.com has announced plans to delist Tether’s USDT and nine other tokens in Europe by January 31, 2025.…
Market integrity: NGX RegCo, EFCC deepen collaboration
NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to…
Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal
President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026, leveraging a combination of…
Equity market reverses loss, investors gain N364bn
The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index…
NECA Applauds CBN’s FX Code, Calls for Effective Implementation
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for introducing the Nigerian Foreign Exchange…
Four FCMB customers win N1m each
First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its Millionaire…
Outstanding $7bn FX cleared, says Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the government has successfully cleared a $7…
CBN Waives N250,000 BDCs’ Annual Licence Renewal Fee for 2025
In a bid to streamline operations and foster stability in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN)…
MRS, others drag equity market to N284bn loss
The Nigerian Exchange (NGX) closed Tuesday’s trading session in negative territory, with the All-Share Index dropping by 0.44% to 103,958.75…
Heavy sanctions for FX code breaches, CBN warns banks
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has warned financial institutions that violations of the newly introduced Nigeria…
CBN releases Nigeria FX code to mitigate financial risks
The Central Bank of Nigeria (CBN) has introduced the Nigeria Foreign Exchange (FX) Code to reduce financial risks amidst significant…
CBN Waives 2025 License Renewal Fee for BDC Operators
In a bid to ease financial pressures on Bureau De Change (BDC) operators, the Central Bank of Nigeria (CBN) has…
USSD debt: NCC, telcos rule out deadline extension for banks
The Nigerian Communications Commission (NCC) and telecommunications companies have refused to extend the deadline for banks to clear their Unstructured…
Asia equities slide with US stock futures on China’s AI push; dollar firms
Asian stock markets and U.S. futures fell on January 27 as investors reacted to the launch of DeepSeek, a Chinese…
Emerging market investors eye frontier assets shielded from Trump’s tariff threats
Amid growing global uncertainties, including rising U.S. tariffs and geopolitical tensions, investors are increasingly looking toward frontier markets, which are…
Equity market gains N794bn in one week
The Nigerian equity market experienced significant growth last week, with the All-Share Index rising by 1.22% to 103,598.30 points and…
Net income of SFS REIT Fund hits 12-year high
SFS Real Estate Investment Trust Fund (SFS REIT Fund) achieved its highest net income in 12 years, recording a 51.2%…
MTN Leads Market Rally as Investors Gain N471.37bn
Investors on the Nigerian Exchange experienced a significant boost on Tuesday, with a total market gain of N471.37bn, raising the…