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 income contributed 60%…
Category: Finance
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 deterred investors, according…
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 decision comes after…
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 expenditure of…
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 Bank and additional budget…
NDIC calls on EFCC to return recovered funds
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to return recovered funds to…
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 retirees will reap…
NNPCL SpendS N267 Billion To Curb Insecurity
The Nigerian National Petroleum Company Limited (NNPCL) reportedly allocated a substantial N267.98 billion for security expenses over 16 months, reflecting…
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 confidence in…
IFC’s Invests $2 Billion Across Sectors in Nigeria
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in…
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 dedication to promoting sustainability reporting…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its platform against financial fraud,…
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 appreciated by 11.54 base…
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 the House…
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 Visa in an effort…
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 power…
Beyond Capital Ventures Declares Groundbreaking Final Close of Venture Fund
On April 30, 2021, Beyond Capital Ventures was established with the goal of making investments in early-stage businesses in India…
Naira Redesign might cause Dollar to Drop to N200, According to EFCC chairman
The redesign of naira notes, according to Abdulrasheed Bawa, head of the Economic and Financial Crimes Commission (EFCC), may cause…
As Borrowing Costs Rise, Canadian Companies Look To Delay Expansion Plans.
Some Canadian businesses are reconsidering their expansion plans after the central bank’s surprise full percentage point interest rate hike, and…
Banks’ Borrowings From CBN Hits N595.34bn In Two Months
The Central Bank of Nigeria (CBN) through its Standing Lending Facility in two months, lent to commercial banks a total…
Global Startup Funding Fell 23% In Q2 2022, Largest Drop In About A Decade.
Venture capitalists are reckoning with their worst quarter in almost a decade as economic uncertainty. And lackluster returns have prompted…
Russia’s Sberbank Executes First Digital Asset Issue On Its Platform.
Russia’s dominant lender Sberbank (SBER.MM) said it had carried out the first digital financial asset transaction on its own platform.…
Brazil’s Itau To Buy 35% Stake In Broker Avenue For $92 Mln, Eyes Control Later
Brazil’s largest private lender Itau Unibanco Holding SA (ITUB4.SA) has agreed to acquire control of Avenue; a brokerage that provides…
Brent Falls Below $100 For The First Time Since April 2022.
The price of the global benchmark has fallen to a level not traded in 12 weeks. As a result of…
FG To Generate N23 Billion In 30 Years From Concession Of Onitsha Port
The Federal Government has signed a deal for the concession of the Onitsha port with the Universal Elysium Consortium. Therefore,…