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…
Category: Finance
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…
Bank of Industry Secures $5 Billion Funding for Nigeria’s Industrial Growth
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan…
African Experts Discuss Growth of Takaful and Non-Interest Finance
Finance experts from across Africa gathered in Lagos for the second African Takaful and Non-Interest Finance Conference, organized by Noor…
LAPO advocates financial inclusion for underserved communities
LAPO Microfinance Bank is championing financial inclusion across Nigeria, focusing on underserved communities. The institution highlighted its efforts in bridging…
NSITF Disburses N6.6 Billion in Compensation and Expands Employee Welfare Coverage Across Nigeria
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries…
Stock market end in slight load shed
Nigeria’s stock market closed in the negative at the end of the week, with the Nigerian Exchange (NGX) All Share…
Nigeria Inflation Expected to Remain High Amid Rising Costs
Nigeria’s inflation rate is projected to remain elevated, with October inflation anticipated to reach 33.10%, largely due to rising fuel…
AIICO Insurance Urges Collaboration to Strengthen Nigeria’s Agricultural Sector
AIICO Insurance Plc has emphasized the importance of collaboration among stakeholders to advance Nigeria’s agricultural sector. Speaking at AIICO’s annual…
FG urged to stop tax reforms move
Tax consultant Adebisi Oderinde, CEO of AOC-Adebisi Oderinde & Co, has urged Nigerian President Bola Tinubu to reconsider implementing a…
Naira appreciates to N1,725/$ in parallel market
The Naira saw a slight appreciation in the parallel market on Monday, rising to N1,725 per dollar from N1,735 last…