Nigerian Banks Borrow Record N131.42 Trillion From CBN Amid Tight Liquidity
In 2024, Nigerian Deposit Money Banks (DMBs) and merchant banks borrowed an unprecedented N131.42 trillion from the Central Bank of…
Category: Finance
African Tech Startups Raise $2.2B Despite Challenges
African tech startups, particularly in Nigeria, Kenya, and South Africa, secured $2.2 billion in funding in 2024 through equity, debt,…
Foreign inflows soar by 63.7% to $3.82bn in 9 months
Nigeria has witnessed a robust 63.7% growth in foreign inflows through international money transfer operators (IMTOs), reaching $3.82 billion in…
NGX lists Nigerian Breweries’ 20.7bn ordinary shares
Nigerian Breweries Plc has officially listed 20.7 billion newly allotted ordinary shares on the Nigerian Exchange Limited (NGX). The announcement…
Mutual Funds Surge to N3.75trn as Start-up Investments Plunge
Nigerian investors have significantly increased their interest in Mutual Funds, with the total Net Asset Value (NAV) soaring by 80.3%…
Foreign Investors’ Participation in Nigerian Stock Market Declines
Foreign investors’ participation in the Nigerian stock market has waned, with outflows surpassing inflows by 12.2% year-to-date as of November…
NGX launches equity-based commodity index, hints on rebalancing
The Nigerian Exchange Limited (NGX) has launched a new Equity-Based Commodity Index aimed at tracking the performance of companies in…
CBN Rules Out Further Naira Devaluation in 2025
The Central Bank of Nigeria (CBN) has reassured the public that it will not devalue the naira further in 2025,…
Rental income still low at 5% – Stakeholders
Rental income in Nigeria remains low, averaging between 3% and 5%, according to Olufemi Seyi, CEO of Casafina Development. Speaking…
Foreign transactions on NGX hit N785bn in 11 months –Report
Foreign transactions on the Nigerian Exchange Limited (NGX) reached N785.28 billion in the first 11 months of 2024, a dramatic…
BMI Predicts Monetary Easing in Nigeria as Inflation Drops
BMI, the research arm of Fitch Solutions, anticipates a shift toward monetary easing in Nigeria and other Sub-Saharan African (SSA)…
Nigerian Equities Begin 2025 with Strong Gains as Investor Optimism Rises
The Nigerian stock market started 2025 on a bullish note, with the All-Share Index (ASI) climbing 1.42% to close at…
Indonesia’s 2024 Budget Deficit Lower Than Expected at 2.3% of GDP
Indonesia’s unaudited budget deficit for 2024 stood at 507.8 trillion rupiah ($31.38 billion), or 2.29% of GDP, surpassing initial expectations…
FCMB Group Plc Announces Successful Completion Of Its Public Offer, Raises ₦147.5 Billion With 33% Oversubscription
FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful completion…
CBN’s 2024 Agenda Focused on Combating Inflation and Driving Economic Reforms
In 2024, the Central Bank of Nigeria (CBN), led by Governor Olayemi Cardoso, implemented bold monetary policies to address soaring…
Fed May Cut Rates by Over 50 Basis Points in 2025 Says BCA Research
BCA Research predicts the Federal Reserve will ease interest rates by more than 50 basis points in 2025, exceeding the…
CIS urges FG to leverage commodities ecosystem for GDP growth
The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government (FG) to prioritize the development of Nigeria’s commodities ecosystem…
Banks’ capital adequacy ratio rose to 14% in Q3 –CBN
The Central Bank of Nigeria (CBN) reported that the banking sector’s Capital Adequacy Ratio (CAR) rose to 14.01% in the…
AfDB’s SEFA Invests $20m in ARM-Harith, ACV Fund to drive sustainable infrastructure
The African Development Bank’s Sustainable Energy Fund for Africa (SEFA) has committed $20 million to drive sustainable infrastructure and climate…
Market Cap Adds N138bn Amid Demand for 54 Stocks
Ahead of the Christmas celebrations, the Nigerian Exchange Limited (NGX) started the week positively, with the market capitalization rising by…
Innovation Crucial for Addressing Nigeria’s Energy Challenges
Manufacturers in Nigeria’s electrical and electronics sector have been urged to leverage innovation to address the nation’s pressing energy challenges.…
Investors Gain Over N1 Trillion in Five Days as Nigerian Stock Market Surges
The Nigerian stock market witnessed a remarkable rally, with the All Share Index (ASI) recording a 35.2% year-to-date capital gain,…
Brace! Risks stack up for the global economy in 2025
The global economy, having weathered the challenges of inflation and post-pandemic recovery in 2024, faces significant uncertainty heading into 2025.…
PenCom, finance ministry working to pay retirees – DG
The National Pension Commission (PenCom) is partnering with the Ministry of Finance to address delays in retirees’ benefit payments. Speaking…
FCMB Group Shareholders Approve N340 Billion Capital Raise
FCMB Group Plc has secured shareholder approval to raise N340 billion in capital to strengthen its banking subsidiary, First City…
Naira rebound seen in 2025 on higher FX inflows
The naira is expected to recover in 2025, driven by increased foreign exchange inflows, reduced petrol and food importation, and…
Zest AI secures $200 million to expand credit tech and pursue acquisitions
Zest AI, a credit underwriting solutions provider, has secured a $200 million growth investment from its long-time investor, Insight Partners.…
Rainier Partners Acquires WPAS to Expand Multi-Employer Benefits Administration
Rainier Partners, a Seattle-based private equity firm, has announced its investment in Welfare & Pension Administration Service (WPAS), a leading…
USTDA and Meridiam Join Forces for African Infrastructure Development
The United States Trade and Development Agency (USTDA) and Paris-based Meridiam SAS have signed a Memorandum of Understanding (MOU) to…