Browsing Category
Finance
AFD extends additional 50m Euros funding to DBN
The French Agency for Development (AFD) has extended a €50 million credit line to the Development Bank of Nigeria…
Nigeria’s money supply rises 48% to N107.7trn
Nigeria's money supply rose 48.3% year-on-year to N107.7 trillion in October 2024, up from N72.6 trillion in the…
Stanbic IBTC Pensions to Host Annual Creativity, Innovation Festival
Stanbic IBTC Pension Managers has announced plans to host its annual FUZE 3.0 Festival, a celebration of Nigerian…
Recapitalisation: ASSIBIFI president underscores impact on banking industry
Olusoji Oluwole, the president of the Association of Senior Staff of Banks, Insurance, and Financial Institutions…
Foreign portfolio inflows boost Nigeria’s FX reserves by $7.7bn
Nigeria's external reserves saw a significant increase of $7.7 billion, reaching $40.3 billion by November 2024,…
Edves and Globus Bank Partner to Simplify School Fee Payments
Edves, a leading education technology company in Africa, has partnered with Globus Bank to simplify school fee…
Omiye Microfinance Bank eyes N1bn share capital
Omiye Microfinance Bank Limited has announced plans to raise its authorized share capital from N500 million to N1…
CBN awards OPay for financial inclusion innovation
The Central Bank of Nigeria (CBN) has honored OPay with the Financial Inclusion Innovation Award at the 2024…
CBN Debunks Claims of FX Sales to BDCs at N1,301 per Dollar
The Central Bank of Nigeria (CBN) has refuted allegations of selling foreign exchange (FX) to Bureau de Change…
House of Representatives Probes CBN Over Naira Scarcity
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN)…
Access Bank UK bolsters Europe-Africa trade, unveils Malta branch
Access Holdings Plc has announced the launch of The Access Bank Malta Limited, a fully owned subsidiary of The…
Tier-1 banks drive NGX market cap to N5.93trn YTD
Tier-1 banks in Nigeria have significantly contributed to the year-to-date (YTD) growth of the Nigerian Exchange…
African Alliance Insurance pays N780m in claims to annuitants
African Alliance Insurance has commenced the payment of N780 million in claims and annuities as part of its…
Naira Appreciates To N1,550/$ In Parallel Market
The Naira appreciated in the parallel market to N1,550 per dollar, a slight improvement from N1,555 last weekend.…
NECA Applauds Fiscal, Monetary Authorities Broader Push To Stabilise Naira,…
The Nigeria Employers' Consultative Association (NECA) has commended the Federal Government's recent issuance of a…
Algeria, Angola Others Still Owe $1.7bn In Foreign Airlines Blocked Funds – IATA
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that…
Trump’s Economic Policies Pose Risks to Nigerian Banks and Investments
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt…
2025 budget: Senate threatens non-performing agencies
Through its Finance Committee, the Nigerian Senate has warned government agencies of zero allocation in the 2025…
Equity market reverses gain with N63bn loss
The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total…
As the naira soars, ABCON urges CBN to tighten the noose on speculators
The naira has experienced a dramatic surge, rising 8.9% in one week, as it rallied from N1,672 to N1,535 per…
Coronation Joins AFIS as Gold Sponsor, Championing Innovation in African Finance
Coronation Group has announced its role as a Gold Sponsor at the Africa Financial Summit (AFIS), set to take place…
PalmPay Partners with NFIU to Boost Financial Security in Nigeria
PalmPay, a leading Nigerian fintech company, has reaffirmed its commitment to tackling financial fraud through…
Banks’ Recapitalisation, New Listings Boost NGX Market Cap by N8.1tn
In 2024, the Nigerian Exchange Limited (NGX) saw a remarkable surge of N8.1 trillion in its market capitalization,…
Organised Private Sector (OPS) urges sustenance as naira gains N137/$
The naira strengthened significantly against the dollar, gaining N137 within a week following the Central Bank of…
Cardoso’s first year sees naira rally amid stubborn inflation
In his first year as Central Bank of Nigeria (CBN) governor, Olayemi Cardoso implemented significant monetary…
UBA Outperforms Peers As Investors Earn 375% Capital Returns
United Bank for Africa (UBA) has delivered an impressive 375% capital gain to its investors over the past five…
Foreign investments in telecoms crash by $99m – NBS
Foreign investments in Nigeria's telecommunications sector dropped significantly in the third quarter of 2024,…
Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total…
FCMB Group Plc Reports 67% Profit Before Tax Growth to ₦91.8 Billion
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months…
Finance and insurance sector grow economy by 30.83% on CBN rate hike
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank of…