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…
Category: Finance
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…
Markets ride a rollercoaster as Trump returns to US presidency
Global markets experienced extreme volatility following Donald Trump’s inauguration, with sharp swings across stocks, currencies, commodities, and cryptocurrencies. The turbulence…
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…
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 pro-business policies while…
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 loans, marking the…
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 increase. Minister of…
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 points. Market capitalization also…
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 Ministries, Departments,…
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 with the National…
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 economic policies in 2025. According to…
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 Monetary Policy…
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 innovation, including new funds tracking tokens…
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 productivity,…
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 slight decrease of N68.04…
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. The NGX All-Share…
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 in the first…