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. This move aligns with…
Category: Finance
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 reconsider…
NGX Delists Tourist Company of Nigeria, Union Homes Savings & Loans Over Non-Compliance
The Nigerian Exchange Limited (NGX) has delisted two companies Tourist Company of Nigeria Plc and Union Homes Savings & Loans…
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 informal sector have contributed…
Ghana secures $2.8bn debt relief as official creditors sign MoU
Ghana has successfully secured $2.8 billion in debt relief after all 25 members of its Official Creditor Committee (OCC) signed…
Aradel reports N321.6 billion pre-tax profits, up 187% YoY
Aradel Holdings Plc posted an impressive N321.6 billion profit before tax for the 2024 financial year, marking a 187% increase…
Nigeria’s Electronic Transactions Surge to N1.08 Quadrillion in 2024, Up 79%
Nigeria’s electronic payment ecosystem experienced remarkable growth in 2024, with transactions reaching an all-time high of N1.08 quadrillion. This marks…
Unilever posts N4.9bn profit
Unilever Nigeria Plc posted a profit of N4.9bn for the fourth quarter of 2024, reflecting a 29% decline from the…
Crypto exchange Crypto.com to delist Tether’s USDT,9 others in Europe by Jan. 3
Cryptocurrency exchange Crypto.com has announced plans to delist Tether’s USDT and nine other tokens in Europe by January 31, 2025.…
ABCON Calls For BDCs’ Merger Ahead Of June Recapitalisation Deadline
The Association of Bureau De Change Operators of Nigeria (ABCON) has called on Bureau de Change (BDC) operators to consider…
Market integrity: NGX RegCo, EFCC deepen collaboration
NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to…
Nigerian Banks Lead Investment Drive Towards $1 Trillion Economy Goal
President Bola Tinubu has reaffirmed his administration’s commitment to achieving a $1 trillion economy by 2026, leveraging a combination of…
Cashless economy deepens as electronic transactions hit N1.08qd
Nigeria’s electronic transactions surged by 79% in 2024, reaching a record N1.08 quadrillion, according to data from the Nigeria Inter-Bank…
Equity market reverses loss, investors gain N364bn
The Nigerian Stock Exchange saw a reversal in market losses on Tuesday, with investors gaining N364bn as the All-Share Index…
NECA Applauds CBN’s FX Code, Calls for Effective Implementation
The Nigeria Employers’ Consultative Association (NECA) has commended the Central Bank of Nigeria (CBN) for introducing the Nigerian Foreign Exchange…
Four FCMB customers win N1m each
First City Monument Bank (FCMB) has rewarded four customers with N1 million each in the first draw of its Millionaire…
Outstanding $7bn FX cleared, says Cardoso
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, announced that the government has successfully cleared a $7…
CBN Waives N250,000 BDCs’ Annual Licence Renewal Fee for 2025
In a bid to streamline operations and foster stability in Nigeria’s foreign exchange market, the Central Bank of Nigeria (CBN)…
MRS, others drag equity market to N284bn loss
The Nigerian Exchange (NGX) closed Tuesday’s trading session in negative territory, with the All-Share Index dropping by 0.44% to 103,958.75…
Heavy sanctions for FX code breaches, CBN warns banks
The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has warned financial institutions that violations of the newly introduced Nigeria…
CBN releases Nigeria FX code to mitigate financial risks
The Central Bank of Nigeria (CBN) has introduced the Nigeria Foreign Exchange (FX) Code to reduce financial risks amidst significant…
CBN Waives 2025 License Renewal Fee for BDC Operators
In a bid to ease financial pressures on Bureau De Change (BDC) operators, the Central Bank of Nigeria (CBN) has…
USSD debt: NCC, telcos rule out deadline extension for banks
The Nigerian Communications Commission (NCC) and telecommunications companies have refused to extend the deadline for banks to clear their Unstructured…
CFG Report: Banks Charge High Lending Rates to Compensate for High Regulatory Reserve Requirements, Levies, Taxes
A recent report by CFG Advisory highlights that Nigerian banks impose high lending rates to offset the costs of holding…
Tax: UBA Hosts Knowledge Series for SMEs, Business Owners
United Bank for Africa (UBA) Plc is organizing a special Knowledge Series webinar to educate Small and Medium Enterprises (SMEs)…
Asia equities slide with US stock futures on China’s AI push; dollar firms
Asian stock markets and U.S. futures fell on January 27 as investors reacted to the launch of DeepSeek, a Chinese…
SEC Warns Against Investing in Risevest and Stecs Cooperative Societies
The Securities and Exchange Commission (SEC) has issued a warning to the public, advising against engaging with Risevest (Victoria Island)…
PenCom releases additional N22bn for pension’s settlement
The National Pension Commission (PenCom) announced that the Office of the Accountant General of the Federation (OAGF) has released an…
Emerging market investors eye frontier assets shielded from Trump’s tariff threats
Amid growing global uncertainties, including rising U.S. tariffs and geopolitical tensions, investors are increasingly looking toward frontier markets, which are…
Trump: Nigeria, other emerging markets at risk of capital flight –JP Morgan
JP Morgan has warned that emerging markets, including Nigeria, face significant capital outflows due to global financial conditions and policies…