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 nation’s pressing energy challenges.…
Category: Finance
Investors Gain Over N1 Trillion in Five Days as Nigerian Stock Market Surges
The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2% year-to-date capital gain,…
Brace! Risks stack up for the global economy in 2025
The global economy, having weathered the challenges of inflation and post-pandemic recovery in 2024, faces significant uncertainty heading into 2025.…
PenCom, finance ministry working to pay retirees – DG
The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’ benefit payments. Speaking…
FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City…
Rainier Partners Acquires WPAS to Expand Multi-Employer Benefits Administration
Rainier Partners, a Seattle-based private equity firm, has announced its investment in Welfare & Pension Administration Service (WPAS), a leading…
SEC Draft Rules Open Pension Funds to Commercial Papers Investment
The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume investments in commercial…
Rupee Hits Record Low at 85/USD as Fed Outlook and Economic Pressures Weigh
The Indian rupee has plunged past the 85 mark against the U.S. dollar for the first time, marking a historic…
CBN caps PoS daily withdrawal at N100,000 to boost cashless economy
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using point-of-sale (PoS) terminals…
2025 Budget: N13trn Deficit To Be Financed Through Borrowing – Finance Minister
The Federal Executive Council (FEC) has approved Nigeria’s 2025 budget, which projects a deficit of N13.1 trillion, representing 3.89% of…
Equity market gains N704bn
The Nigerian equity market soared by N704bn over six days, pushing the market capitalization above N60tn. At Monday’s close, the…
PalmPay Partners Jumia to Boost Payment Transaction
PalmPay, a leading fintech company in Nigeria, has partnered with e-commerce platform Jumia to improve the payment process for customers…
High currency in circulation fails to tame cash scarcity
Cash scarcity continues to trouble Nigerians despite the Central Bank of Nigeria (CBN) reporting a record high of N4.5 trillion…
Nigeria excluded from the $1bn OPEC fund for development financing
Nigeria, Africa’s largest oil producer, was conspicuously absent from the list of beneficiaries of nearly $1 billion in development financing…
NGX slams 3,792 sanctions on erring brokers
The Nigerian Exchange Group (NGX) has imposed 3,792 regulatory sanctions on trading license holders over the past 13 years to…
Stock market sustains positive trend amid portfolio repositioning
The Nigerian stock market extended its bullish run last week, driven by increased investor confidence and seasonal factors like the…
NSIA Insurance donates furniture to school
NSIA Insurance Limited has donated furniture and school supplies to Government College, Victoria Island, Lagos, as part of its Corporate…
Foreign portfolio inflows boost Nigeria’s FX reserves by $7.7bn
Nigeria’s external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024, driven by foreign portfolio…
Omiye Microfinance Bank eyes N1bn share capital
Omiye Microfinance Bank Limited has announced plans to raise its authorized share capital from N500 million to N1 billion to…
CBN awards OPay for financial inclusion innovation
The Central Bank of Nigeria (CBN) has honored OPay with the Financial Inclusion Innovation Award at the 2024 International Financial…
CBN Debunks Claims of FX Sales to BDCs at N1,301 per Dollar
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change (BDC) operators…
NECA Applauds Fiscal, Monetary Authorities Broader Push To Stabilise Naira, Economic Framework.
The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government’s recent issuance of a $2.2 billion Eurobond, which aims…
Equity market reverses gain with N63bn loss
The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total value dropped…
As the naira soars, ABCON urges CBN to tighten the noose on speculators
The naira has experienced a dramatic surge, rising 8.9% in one week, as it rallied from N1,672 to N1,535 per…
Cardoso’s first year sees naira rally amid stubborn inflation
In his first year as Central Bank of Nigeria (CBN) governor, Olayemi Cardoso implemented significant monetary reforms aimed at stabilizing…
Stanbic IBTC Bank Launches Senior Citizens Account for Nigerians Aged 50 and Above
Stanbic IBTC Bank has introduced the Senior Citizens Account, a specialized banking service tailored for Nigerians aged 50 and older.…
SEC: No investor will lose funds to fintech
The Securities and Exchange Commission (SEC) has reassured investors about the safety of their investments as financial technology (Fintech) continues…
Naira appreciates to N1,755 per dollar in the parallel market
The naira appreciated in the parallel market on Tuesday, strengthening to N1,755 per dollar from Monday’s rate of N1,770 per…
States failed to execute 40% of capital expenditure – Fitch
State governments in Nigeria fail to execute 40% of their capital expenditure (CAPEX) budgets, according to the Fitch Ratings report.…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the…