34.8% inflation rate triggers fears of rising prices, hardship
Nigeria’s inflation rate surged to 34.80% in December 2024, a marginal increase from November’s 34.60%, according to the National Bureau…
Category: Finance
FCMB appoints executive director
First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its new Executive Director of Corporate Services…
Nigeria’s Inflation Hits 34.80% Dampening Hopes for Rate Cut
Nigeria’s inflation rate surged to 34.80% in December 2024, dampening expectations for a potential rate cut by the Monetary Policy…
Nine Nigerian Banks Face USSD Disconnection Over N160 Billion Debt
Telecommunication companies in Nigeria, under the directive of the Nigerian Communications Commission (NCC), will suspend USSD services for nine banks…
Telecom tariff hike: Huge financial burden on Nigerians
The recent announcement of telecom tariff hikes in Nigeria has sparked concerns among citizens already burdened by rising inflation, subsidy…
Crypto ETFs Face Innovation Potential in 2025 but Anticipate Weaker Demand
As the cryptocurrency exchange-traded fund (ETF) market enters 2025, it holds significant opportunities for innovation, including new funds tracking tokens…
Data Challenges Hinder Progress of Micro Pension Plan
A pension expert, Michael Oyebola, has highlighted several data-related issues affecting the effectiveness of the Micro Pension Plan (MPP) in…
Naira fall takes $310bn toll on economy
Nigeria’s economy has suffered a $310 billion loss in GDP over the past decade, driven by naira devaluation, low productivity,…
CBN fines 9 banks N1.35bn for failing to dispense cash via ATMs
The Central Bank of Nigeria (CBN) has fined nine banks N1.35 billion for failing to ensure cash availability through automated…
Stanbic IBTC Pension Managers reintroduces self-service channels
Stanbic IBTC Pension Managers has announced the reintroduction of its self-service channels, aimed at enhancing customer experience and simplifying pension…
Telcos, ICT firms owe banks N1.69trn as tariff hike looms
Telecommunications and ICT companies in Nigeria owed banks N1.69 trillion as of September 2024, reflecting a slight decrease of N68.04…
FG Confident in Achieving N36.35 Trillion Revenue Target for 2025
The federal government is optimistic about meeting its ambitious N36.35 trillion revenue target for 2025, thanks to significant economic reforms.…
Stock Price of FBN Holdings Crashes by 5.63%
The stock price of FBN Holdings Plc fell by 5.63% on the Nigerian Exchange Limited (NGX), closing at ₦28.50 per…
Value of eNaira rises by 57% to N18.32 bn
The value of the eNaira, Nigeria’s digital currency introduced by the Central Bank of Nigeria (CBN) in 2021, increased significantly…
Naira appreciates to N1,655/$ in parallel market
The Naira appreciated in the parallel market yesterday, trading at N1,655 per dollar compared to N1,665 last weekend. However, according…
Investors lose N51bn as equity market shrinks
The Nigerian Stock Exchange (NGX) recorded a N51bn decline in market capitalization on Monday, closing at N64.3tn. The NGX All-Share…
December inflation projected to hit 35.20%
Nigeria’s inflation rate is projected to rise to 35.20% in December 2024, driven by persistent price pressures, according to the…
Nigerian Banks’ Market Capitalisation Hits N7.90tn
Eleven Nigerian banks have collectively achieved a market capitalization of N7.90tn, showcasing varying performance across the sector. Zenith Bank PLC…
Nigeria’s Foreign Trade by LC Payments Down 52.5% YoY to $506.1m
Nigeria’s foreign trade by Letter of Credit (LC) payments declined by 52.5% Year-on-Year (YoY) to $506.1 million in the first…
Investors Return Rise by N1.13trn as Stock Market Surge Further
In the second week of trading in 2025, Nigerian stock market investors experienced a significant surge, in market capitalization growing…
Apple Urges Shareholders to Reject Call for DEI Programme Rollback
Apple’s board has urged investors to reject a proposal aimed at dismantling its Diversity, Equity, and Inclusion (DEI) programs. The…
FG sets up a special unit as implementation of LGA financial autonomy begins
The Federal Government of Nigeria, through the Office of the Accountant-General of the Federation (OAGF), has set up a dedicated…
NGX hauls N12.2trn from bonds, listings in 2024
The Nigerian Exchange Limited (NGX) achieved a remarkable milestone in 2024, recording N12.17 trillion from Federal Government (FGN) bonds and…
GTCO’s N400.5bn Public Offer Falls Short by 48%
Guaranty Trust Holding Company Plc (GTCO) has revealed that its N400.5 billion public offer was undersubscribed by 48%, raising only…
Recapitalization and Regulatory Shifts Reshape Nigerian Banking Sector in 2024
The Nigerian banking sector experienced a transformative 2024, driven by the Central Bank of Nigeria’s (CBN) recapitalization directive to support…
Inflation and Naira Stabilisation Expected in 2025
In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for the economy.…
Naira down to N1,655/$ in parallel market
The Naira experienced further depreciation in the parallel market, sliding to N1,655 per dollar from N1,650 the previous day. Similarly,…
US Federal Reserve Regulator Resigns Citing Risk of Dispute
Michael Barr, the vice chair for supervision at the US Federal Reserve, announced his early resignation, citing the “risk of…
Concessional Borrowing Key to Addressing Nigeria’s Debt Challenges
Nigeria’s rising debt, projected to hit N187.79 trillion by the end of 2025, has raised alarm among economists and financial…