SEC Draft Rules Open Pension Funds to Commercial Papers Investment
The Securities and Exchange Commission (SEC) has released draft rules enabling pension funds in Nigeria to resume investments in commercial…
Category: Finance
Capital Economics sees muted Saudi growth into 2025
Capital Economics forecasts subdued economic growth for Saudi Arabia through 2025, attributing it to conservative oil policies and fiscal consolidation…
Tinubu Unveils 2025 Budget Targeting Inflation and Naira Stability
President Bola Tinubu presented the 2025 Appropriation Bill to the National Assembly, aiming to stabilize the exchange rate at N1,500…
MSMEs navigate tough economy, demand state of emergency to tackle issues
Micro, small, and medium enterprises (MSMEs) in Nigeria are facing a tough economic environment marked by rising costs, limited access…
Rupee Hits Record Low at 85/USD as Fed Outlook and Economic Pressures Weigh
The Indian rupee has plunged past the 85 mark against the U.S. dollar for the first time, marking a historic…
CBN caps PoS daily withdrawal at N100,000 to boost cashless economy
The Central Bank of Nigeria (CBN) has implemented a daily withdrawal limit of N100,000 for customers using point-of-sale (PoS) terminals…
Dangote to NNPC Ltd: Your statement on $1bn refinery investment inaccurate, misleading
Dangote Petroleum Refinery has refuted claims made by the Nigerian National Petroleum Company Limited (NNPCL) about its role in a…
Nigeria’s $42bn Reserves Can Fund Nine Months of Imports Says CBN
Nigeria’s external reserves have grown to $42.01 billion, enabling the country to finance imports for over nine months, according to…
Aradel Holdings and 41 Others Boost Nigerian Stock Market by N258bn
The Nigerian stock market maintained its upward trend, fueled by price gains in Aradel Holdings Plc and 41 other stocks.…
SEC seeks policy support to drive $1tn economy
The Securities and Exchange Commission (SEC) has called for stronger policy support to help drive Nigeria’s ambition of reaching a…
NGX gains N78bn as MRS, Wapic lead
The Nigerian Exchange (NGX) saw a positive trading session on December 18, 2024, with the equity market gaining N78 billion…
$1 trn economy is necessity for prosperity, resilience of Nigeria — SEC DG
The Securities and Exchange Commission (SEC) has emphasized that achieving a $1 trillion economy is essential for Nigeria’s prosperity and…
Senate Proposes Ban on Dollar Salaries and Foreign Currency Transactions
The Nigerian Senate has introduced a bill to amend the Central Bank of Nigeria Act, 2007, prohibiting the use of…
Hedge Funds Turn to Macro Strategies Amid Market Volatility in 2025
Hedge fund investors are prioritizing macro strategies for 2025, driven by anticipated political and economic turbulence under the incoming U.S.…
PenCom Ensures Pension and Insurance Coverage for Over 38,000 Employers
The National Pension Commission (PenCom) has revealed that over 38,000 employers secured pension and insurance coverage for their workers in…
As bitcoin soars, luxury brands consider accepting crypto payments
The recent surge in Bitcoin’s value has sparked interest among luxury brands to explore cryptocurrency as a payment option, aiming…
ICPC Recovers N30 Billion and $966900 in Cash Over One Year
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced the recovery of N29.7 billion and $966,900 in foreign…
Naira closes flat across FX markets
The naira remained stable across Nigeria’s foreign exchange markets on Tuesday as dollar demand eased slightly. At the Electronic Foreign…
Foreign portfolio investment in the stock market rises 180.9%
Foreign Portfolio Investments (FPIs) in the Nigerian stock market surged by 180.95% in the first ten months of 2024, reaching…
Africa Faces $74 Billion Debt Servicing Challenge in 2024 – AfDB
African nations, including Nigeria, require approximately $74 billion for debt servicing in 2024, highlighting the continent’s worsening debt crisis. Speaking…
W’Bank plans $1.65bn loans for Nigeria next year
The World Bank plans to approve three major loans for Nigeria in 2025, totaling $1.65 billion, aimed at addressing the…
2025 Budget: N13trn Deficit To Be Financed Through Borrowing – Finance Minister
The Federal Executive Council (FEC) has approved Nigeria’s 2025 budget, which projects a deficit of N13.1 trillion, representing 3.89% of…
CBN’s Market Discipline Boosts Banking Efficiency and Transparency
The Central Bank of Nigeria (CBN) has intensified efforts to enhance banking efficiency and transparency through stricter enforcement of market…
Fitch predicts tough 2025 for Nigerian banks, others
Fitch Ratings has projected a challenging year ahead for African banks, including Nigerian financial institutions, in its African Banks Outlook…
Naira appreciates to N1,660/$ in parallel market
The Naira appreciated in the parallel market yesterday, trading at N1,660 per dollar, a slight improvement from N1,662 per dollar…
How N239.4bn Rights Issue will contribute to UBA’s growth – Elumelu
The United Bank for Africa (UBA) is undertaking a N239.4 billion Rights Issue to fund digital transformation and business expansion…
Equity market gains N704bn
The Nigerian equity market soared by N704bn over six days, pushing the market capitalization above N60tn. At Monday’s close, the…
FCMB Hackathon: Startups Work on Solutions for Livestock Mortality and Financial Inclusion
For conceptualising and developing actionable solutions to bridge gaps in Nigeria’s agribusiness ecosystem, winners of this year’s First City Monument…
UBA Raises N239.4bn to Strengthen Lending and Global Expansion
United Bank for Africa (UBA) is set to raise N239.4 billion through a rights issue to support its growth and…
PalmPay Partners Jumia to Boost Payment Transaction
PalmPay, a leading fintech company in Nigeria, has partnered with e-commerce platform Jumia to improve the payment process for customers…