US Stock Futures Surge as Trump’s Tax Cut Plans Advance
U.S. stock futures saw a significant rebound on Wednesday following House Republicans’ progress on Donald Trump’s tax cut proposals. The…
Category: Finance
Finance and Insurance Sectors Drive Nigeria’s GDP Growth in 2024
In 2024, Nigeria’s finance and insurance sectors played a significant role in boosting the country’s real GDP growth, contributing 6.22%,…
Ghana and Rwanda Sign MoU to Enhance Cross-Border Fintech Operations
Ghana and Rwanda have taken a significant step towards financial innovation by signing a Memorandum of Understanding (MoU) aimed at…
Rewane: CBN’s Intervention Policies Strengthen Naira Stability
Economist Bismarck Rewane, CEO of Financial Derivative Company, has praised the Central Bank of Nigeria’s (CBN) recent foreign exchange market…
Strong Demand for Bank of Ghana Treasury Bills as Rising Interest Rates Influence Auction Results
The Bank of Ghana’s latest treasury bills auction, held on February 21, 2025, revealed strong demand for government securities, with…
Financial Inclusion Key to Nigeria’s Economic Development, Says CBN
The Deputy Governor for Financial Systems Stability at the Central Bank of Nigeria (CBN), Mr. Philip Ikeazor, emphasized the importance…
US companies swap dollar bonds into euros to lower funding costs
U.S. companies with international operations are increasingly using cross-currency swaps to convert their dollar debt into euros, helping reduce their…
Rural Banks in Ghana Embrace GhanaPay to Stay Competitive
Rural banks in Ghana are increasingly adopting the GhanaPay platform developed by the Ghana Interbank Payment and Settlement Systems (GhIPSS)…
Nigeria’s Cyber Threat Risk Rises as Attacks Surge, Now Ranked 11th in Africa
Nigeria’s cyber threat risk has significantly increased, with the country now ranked 11th on the Cyber Threat Index for African…
Banks and Fintechs in Nigeria Embrace Blockchain to Boost Financial Services
In early January 2025, PalmPay, a fintech platform, announced its integration of blockchain technology to improve transaction reliability, setting a…
Nigeria’s Personal Loans Surge to N3.32tn Amid Rising Inflation, CBN Reports
In November 2024, Nigeria’s personal loan portfolio saw a dramatic increase of 37.76%, rising to N3.32 trillion, according to the…
Nigeria Becomes Afreximbank’s Largest Beneficiary with $52 Billion Disbursement
Nigeria has emerged as the largest beneficiary of the African Export-Import Bank (Afreximbank) with a cumulative disbursement of approximately $52…
Stabilizing Naira and Slower Price Increases Ease Business Costs in January
In January 2025, the Nigerian business environment saw a reduction in operating costs, primarily due to the stability of the…
CBN Reschedules February 2025 MPC Meeting Amid CPI Release Delays
The Central Bank of Nigeria (CBN) has officially announced a new date for its 299th Monetary Policy Committee (MPC) meeting,…
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…
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…