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Finance
Nigeria’s Personal Loans Surge to N3.32tn Amid Rising Inflation, CBN Reports
In November 2024, Nigeria’s personal loan portfolio saw a dramatic increase of 37.76%, rising to N3.32 trillion,…
Equity Market Soars by N779bn as Nigerian Exchange Hits N67.3tn
On Wednesday, February 13, 2025, the Nigerian equity market experienced a significant surge, with investors…
Nigeria Becomes Afreximbank’s Largest Beneficiary with $52 Billion Disbursement
Nigeria has emerged as the largest beneficiary of the African Export-Import Bank (Afreximbank) with a cumulative…
Nigerian Banks Progressing Towards Meeting 2026 Recapitalisation Deadline – Fitch…
Fitch Ratings has reported that Nigerian banks are on track to meet the Central Bank of Nigeria's (CBN)…
CBN Scraps Free ATM Withdrawals, Introduces New Charges: Bank Customers Express…
In a recent move by the Central Bank of Nigeria (CBN), the institution has announced the scrapping of free ATM…
Nigerian Equity Market Maintains Bullish Momentum with N426bn Gain
The Nigerian equity market continued its positive trajectory on February 12, 2025, with investors gaining N426…
Stabilizing Naira and Slower Price Increases Ease Business Costs in January
In January 2025, the Nigerian business environment saw a reduction in operating costs, primarily due to the…
CBN Reschedules February 2025 MPC Meeting Amid CPI Release Delays
The Central Bank of Nigeria (CBN) has officially announced a new date for its 299th Monetary Policy Committee…
Uganda’s Economic Outlook Remains Positive Amid Challenges and Global…
Uganda's economy has shown consistent growth in recent years, with 2023 marking a 5.0% increase in GDP. After a…
VP Shettima Launches Committee to Drive Nigeria’s Trillion-Dollar Economic…
Vice President Kashim Shettima recently inaugurated the Presidential Committee on Economic and Financial Inclusion…
MOFI Launches N100bn Series 2 Offering to Tackle Nigeria’s Housing Deficit
The Ministry of Finance Incorporated (MOFI) has launched a N100 billion Series 2 offering under the MOFI Real…
African Startups Raise $289M in January 2025, Marking a Strong Funding Rebound
In January 2025, African startups raised an impressive $289 million, representing a 240% increase compared to the…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to…
Nigerian Manufacturers Face N666bn Cost Surge Amid Inflation and Economic…
In 2024, the cost of sales for 10 major manufacturing and consumer goods companies in Nigeria surged to N665.95bn,…
Ghana National Gas Company Faces Growing Debt Crisis Amid VRA Payment Struggles
The Ghana National Gas Company Limited (GNGLC) is grappling with a deepening financial crisis, largely stemming…
Six companies record N255bn FX loss
Six companies listed on the Nigerian Exchange Limited reported a combined foreign exchange (FX) loss of N255.72…
CBN Sets $25,000 Weekly Limit on BDC Forex Purchases to Stabilize Naira
The Central Bank of Nigeria (CBN) has announced new forex restrictions, limiting Bureau de Change (BDC) operators…
PTAD Pledges Implementation Of N32,000 Pension Increment
The Pension Transitional Arrangement Directorate (PTAD) has reaffirmed its commitment to implementing the N32,000…
Ghana Faces Revenue Dilemma Amid Proposed Tax Cuts
The Ghanaian government is considering removing key taxes, including the e-levy, betting tax, and emission levy,…
CBN extends $25,000 weekly forex sales to BDCs
The Central Bank of Nigeria (CBN) has announced an extension of the temporary arrangement that allows Bureau de…
Naira appreciates to N1,605/$1 in parallel market on Monday
The Nigerian naira showed a significant recovery in the parallel market on Monday, appreciating by N5 against the…
Stock Market Gains N83bn on Demand for MTN, 20 Others
The Nigerian Exchange Limited (NGX) opened the new week with a positive market performance, recording an N83…
Nigeria Launches FX Code to Transform Foreign Exchange Market with Integrity and…
Nigeria has officially launched the Nigeria Foreign Exchange (FX) Code on January 28, 2025, marking a major…
FCMB Group Lists 19.8 Billion Shares on NGX Following Oversubscribed Public Offer
FCMB Group Plc has successfully listed 19.8 billion shares on the Nigerian Exchange Group (NGX) after a highly…
Mahama nominates Dr. Johnson Asiamah as BoG Governor-GHANA
President John Dramani Mahama has nominated Dr. Johnson Asiamah as the new Governor of the Bank of Ghana, pending…
PTAD Clears N1.18bn in Pension Arrears Amid Ongoing Retiree Concerns
The Pension Transitional Arrangement Directorate (PTAD) has disbursed N1.18bn in pension arrears over the past…
Implications of rebasing Nigeria’s CPI to 2024: A double-edged sword
Nigeria has rebased its Consumer Price Index (CPI) to 2024, significantly affecting how inflation is measured.…
ABCON seeks review of capital requirements for BDCs
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to…
NGX Delists Tourist Company of Nigeria, Union Homes Savings & Loans Over…
The Nigerian Exchange Limited (NGX) has delisted two companies Tourist Company of Nigeria Plc and Union Homes…
PenCom: Informal Sector RSA Holders Save N967m Under Micro Pension Plan
The National Pension Commission (PenCom) has disclosed that 12,241 Retirement Savings Account (RSA) holders in the…