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…
Category: Finance
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,…
Mortgage Refinance Demand Plunges 60 Percent, As Rates Hit Their Highest Level Since 2018
Mortgage rates took another jump higher last week, taking their toll on current borrowers who might have wanted to refinance.…
Stocks Rise, Dollar Struggles On Fed Bets
World shares rose on and it pinned the dollar near five-week lows on hopes of an eventual slowdown in U.S.…
Asian Stocks Lose Bounce From Shorter China quarantine, Slip On Inflation Fears
Stocks fell across Asia on Wednesday morning, extending overnight losses on Wall Street amid concerns over recession, inflation and high…
FG spends N1.243tn Monthly As Fuel Subsidy Hits N600/Litre – Operators
The amount spent as subsidy by the Federal Government on every litre of Premium Motor Spirit; popularly called petrol, consumed…
DisCos Revenue Surges By 47% To Hit N757bn – Report
Revenue collection by the 11 distribution companies increased by 47% to N757bn in 2021. The Association of Nigerian Electricity Distributors’…
Reps go after 77 oil firms over unremitted N2.6tn revenue
The House of Representatives commenced an investigative hearing on the N2.6tn owed the Federal Government by 77 oil companies operating…
CBN to Introduce Bank Cash Hubs, Releases Guideline
The Central Bank of Nigeria has released a draft guideline for the registration and operation of Bank Neutral Cash Hubs…
Banks Loan To Private Sector Surged By N5.58 Trillion In 2021
Banks credit to the private sector hit its highest level in December 2021, reaching N35.73 trillion from N30.15 trillion recorded…
Fintech firm to launch financial services marketplace
PayPassage is a digital transaction solutions provider set to launch its financial services platform in Nigeria. The financial services platform…