Bank of Industry Secures $5 Billion Funding for Nigeria’s Industrial Growth
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan…
Category: Finance
African Experts Discuss Growth of Takaful and Non-Interest Finance
Finance experts from across Africa gathered in Lagos for the second African Takaful and Non-Interest Finance Conference, organized by Noor…
LAPO advocates financial inclusion for underserved communities
LAPO Microfinance Bank is championing financial inclusion across Nigeria, focusing on underserved communities. The institution highlighted its efforts in bridging…
NSITF Disburses N6.6 Billion in Compensation and Expands Employee Welfare Coverage Across Nigeria
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries…
Stock market end in slight load shed
Nigeria’s stock market closed in the negative at the end of the week, with the Nigerian Exchange (NGX) All Share…
Nigeria Inflation Expected to Remain High Amid Rising Costs
Nigeria’s inflation rate is projected to remain elevated, with October inflation anticipated to reach 33.10%, largely due to rising fuel…
AIICO Insurance Urges Collaboration to Strengthen Nigeria’s Agricultural Sector
AIICO Insurance Plc has emphasized the importance of collaboration among stakeholders to advance Nigeria’s agricultural sector. Speaking at AIICO’s annual…
FG urged to stop tax reforms move
Tax consultant Adebisi Oderinde, CEO of AOC-Adebisi Oderinde & Co, has urged Nigerian President Bola Tinubu to reconsider implementing a…
Naira appreciates to N1,725/$ 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…
Petrol Price: Marketers set to import cheaper products
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has emphasized its intention to import premium motor spirit (PMS),…
Nigeria’s Foreign Exchange Market Faces Ongoing Challenges Despite Recent Measures
Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the foreign exchange (FX) market, Fitch Ratings reports that…
Access Holdings grows revenue by 114.5% to N3.4tr in Q3
Access Holdings Plc, the parent company of Access Bank Nigeria, reported a remarkable 114.5% year-on-year increase in gross revenue to…
Nigerian Per Capita Income Drops 72.8% to 20-Year Low Amid Policy Missteps
Nigeria’s per capita income has plummeted by 72.8% since 2014, hitting its lowest point since 2004. This stark drop, attributed…
Government allocates N18bn compensation for Lagos-Calabar highway
The Nigerian Minister of Works, David Umahi, announced that N18 billion has been allocated to compensate property owners affected by…
Legal attacks are slowing SEC rulemaking in a crucial election year
The U.S. Securities and Exchange Commission (SEC) has experienced a significant slowdown in rulemaking since President Biden took office, primarily…
Robinhood shares drop as growth push takes a toll on Q3 results
Robinhood Markets, Inc. saw its shares plummet nearly 11% before the market opened on October 31, following a strong performance…
Credit to government jumps 90% to N42trn amid rising money supply
In September 2024, Nigeria’s money supply reached an unprecedented N109 trillion, marking a 1.68% increase from the previous month and…
Nigerian Breweries Reports 75% Revenue Growth Amid Economic Challenges
Nigerian Breweries Plc has announced a remarkable 75% increase in revenue for the nine months ending September 30, 2024, reaching…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central…
Insurance Industry Key to Nigeria’s Economic Transformation, NIA Chairman
The Chairman of the Nigerian Insurers Association (NIA), Mr. Kunle Ahmed, emphasized the critical role that the insurance industry plays…
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 catalyzing sustainable…
Inflation Leads To Manufacturers Collapse And Out Of Jobs
Nigeria’s manufacturing sector is grappling with severe challenges, including rising energy costs, aggressive production expenses, and logistical constraints. Energy prices,…
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 and importers regarding foreign…
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 part of…
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, reaching…
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 supply issues. In…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the United States.…
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 deficit…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue…