Real Time Financial News Website
The Federal Government of Nigeria, through the Ministry of Agriculture and Food Security, has signed an agreement with the National Identity Management Commission (NIMC) to create a database of Nigerian…
The Nigerian Communications Commission (NCC) has directed telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) services of nine financial institutions due to outstanding debts. In a notice signed…
Apple is in talks with Barclays and Synchrony Financial to replace Goldman Sachs as its credit card partner, sources say. Goldman, which launched the Apple Card in 2019, is retreating…
Industry experts predict Nigeria’s marketing and advertising sector will benefit from the federal government’s economic policies in 2025. According to Udeme Ufot, former chairman of the Advertising Regulatory Council of…
The Nigerian equity market recorded a significant loss of N930.62bn at the close of trading on Wednesday, marking the third consecutive decline this week. The All-Share Index dropped by 1.47…
Nigeria’s inflation rate surged to 34.80% in December 2024, a marginal increase from November’s 34.60%, according to the National Bureau of Statistics (NBS). The 0.20% rise is attributed to heightened…
First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its new Executive Director of Corporate Services and Service Management. The appointment, approved by the Central Bank…
Nigeria’s inflation rate surged to 34.80% in December 2024, dampening expectations for a potential rate cut by the Monetary Policy Committee (MPC) in its upcoming meeting. The National Bureau of…
Telecommunication companies in Nigeria, under the directive of the Nigerian Communications Commission (NCC), will suspend USSD services for nine banks starting January 27, 2025, due to an unresolved debt of…
The recent announcement of telecom tariff hikes in Nigeria has sparked concerns among citizens already burdened by rising inflation, subsidy removals, and increasing energy costs. Telecom operators argue that the…
As the cryptocurrency exchange-traded fund (ETF) market enters 2025, it holds significant opportunities for innovation, including new funds tracking tokens such as Solana, XRP, and Litecoin. Bitcoin ETFs, which debuted…
A pension expert, Michael Oyebola, has highlighted several data-related issues affecting the effectiveness of the Micro Pension Plan (MPP) in Nigeria. These issues, which include inconsistent, incomplete, and illegible data,…
Nigeria’s economy has suffered a $310 billion loss in GDP over the past decade, driven by naira devaluation, low productivity, and stagflation. Once Africa’s largest economy, Nigeria now ranks fourth…
The Central Bank of Nigeria (CBN) has fined nine banks N1.35 billion for failing to ensure cash availability through automated teller machines (ATMs) during the festive season. Each bank was…
Stanbic IBTC Pension Managers has announced the reintroduction of its self-service channels, aimed at enhancing customer experience and simplifying pension management. The company, a subsidiary of Stanbic IBTC Holdings PLC,…
Telecommunications and ICT companies in Nigeria owed banks N1.69 trillion as of September 2024, reflecting a slight decrease of N68.04 billion compared to September 2023. The reduction aligns with the…
The federal government is optimistic about meeting its ambitious N36.35 trillion revenue target for 2025, thanks to significant economic reforms. Speaking at a National Assembly hearing on the 2025 Appropriation…
The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per share, down from ₦30.20. The decline reflects investor caution as…
The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly by 57% year-on-year (YoY), reaching N18.32 billion in the first…
The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according to data from the Central Bank of Nigeria (CBN), the…
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share Index fell by 0.08% to 105,367.25, though it maintained a…
Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the Cowry Weekly Financial Markets Review & Outlook. This follows a…
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC leads with a market cap of N1.47tn, driven by a…
Nigeria’s foreign trade by Letter of Credit (LC) payments declined by 52.5% Year-on-Year (YoY) to $506.1 million in the first nine months of 2024, compared to $1.07 billion during the…
In the second week of trading in 2025, Nigerian stock market investors experienced a significant surge, in market capitalization growing by N1.13 trillion. The benchmark Nigerian Exchange Limited All-Share Index…
Apple’s board has urged investors to reject a proposal aimed at dismantling its Diversity, Equity, and Inclusion (DEI) programs. The motion, put forward by the conservative National Center for Public…
The Federal Government of Nigeria, through the Office of the Accountant-General of the Federation (OAGF), has set up a dedicated unit to oversee the implementation of financial autonomy for the…
The Nigerian Exchange Limited (NGX) achieved a remarkable milestone in 2024, recording N12.17 trillion from Federal Government (FGN) bonds and corporate listings. Corporate listings led the pack, contributing N6.2 trillion,…
Guaranty Trust Holding Company Plc (GTCO) has revealed that its N400.5 billion public offer was undersubscribed by 48%, raising only N209.01 billion. The offer, which involved 9 billion ordinary shares…
The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn. The All-Share Index (ASI) rose by 1.80%, ending at 105,451.06 points, while…