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Finance
Business Journal summit to highlight insurance’s role in economic growth
The Business Journal Annual Lecture 2024 is set to highlight the critical role of the insurance industry in…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria's manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive…
CBN verifying disputed $2.4bn FX claims – Cardoso
The Central Bank of Nigeria (CBN) has launched a re-validation process to address complaints from manufacturers…
Cash transfer: FG releases N24bn to 991,261 households
The Nigerian government has given out N24.78 billion to help 991,261 poor families across the country. This is…
Regency Alliance grows profit to N1.93bn
Regency Alliance Insurance Plc reported a 225% increase in profit after tax for the year ending December 31, 2023,…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria's revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32%…
FBN Holdings gross earnings soared by 181% in Q1
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest…
Citigroup Eyes European Expansion Despite Political Instability
Citigroup (C.N) is poised to expand its business in Europe despite the continent's political volatility, which has…
Walmart Ditches Capital One as Credit Card Issuer After Service Issues
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This…
National, state assemblies to spend N724bn in 2024
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the…
FG expects $2.2 billion World Bank loan and AfDB budget
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World…
NDIC calls on EFCC to return recovered funds
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to…
Naira Depreciates as FX Market Witnesses Decline in Dollar Supply
The foreign exchange (FX) market in Nigeria experienced a notable 56.58% decrease in dollar supply on Wednesday,…
FG Vows Effective Implementation of Pension Reforms
The Director-General of the Bureau of Public Service Reforms (BPSR), Mr. Dasuki Arabi, has provided assurance that…
NNPCL SpendS N267 Billion To Curb Insecurity
The Nigerian National Petroleum Company Limited (NNPCL) reportedly allocated a substantial N267.98 billion for…
Airtel Africa Plans $100 million Share Buyback
Airtel Africa Plc has unveiled its intention to repurchase up to $100 million worth of its shares, underscoring…
IFC’s Invests $2 Billion Across Sectors in Nigeria
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed…
NGX Regulation, IFRS, and FRC Nigeria Commits to Sustainability Reporting
The NGX Regulation Limited, IFRS Foundation, and Financial Reporting Council of Nigeria have reaffirmed their…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its…
Manufacturers Lament over FGN’s 7BN Debt
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in…
Nigeria’s External Reserve Declines by $77m- CBN
In December 2023, Africa's largest economy, Nigeria, witnessed a decline in its external reserves, dropping by…
The Nigerian Exchange Limited Recorded N2bn Gain for Investors.
The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors.
The All-Share Index also…
Reps Drop The N22.7tn Loan Proposal And Approve The Borrowing Of N1tn
The President's requests for Ways and Means Advances from the Central Bank of Nigeria were partially accepted by…
Nigeria Introduces a Domestic Card Program in an Effort to go Cashless.
Nigeria's central bank unveiled a domestic card program to compete with global cards like Mastercard and…
Bank Lending to Customers Reaches 29.13%.
As of the end of December 2022, the maximum lending rate in the banking sector was 29.13 percent, while savings…
Nigeria FG Agree on NIPPS Sale to Pay for Budgets.
Final agreement has been reached between the federal government and the 36 governors of the states to sell five…