NECA Applauds Fiscal, Monetary Authorities Broader Push To Stabilise Naira, Economic Framework.
The Nigeria Employers’ Consultative Association (NECA) has commended the Federal Government’s recent issuance of a $2.2 billion Eurobond, which aims…
Category: Finance
Algeria, Angola Others Still Owe $1.7bn In Foreign Airlines Blocked Funds – IATA
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that still owe foreign airlines a…
Trump’s Economic Policies Pose Risks to Nigerian Banks and Investments
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt Nigeria’s financial…
2025 budget: Senate threatens non-performing agencies
Through its Finance Committee, the Nigerian Senate has warned government agencies of zero allocation in the 2025 budget if they…
Equity market reverses gain with N63bn loss
The Nigerian equity market started the week on a downturn, losing N63bn in market capitalization as the total value dropped…
As the naira soars, ABCON urges CBN to tighten the noose on speculators
The naira has experienced a dramatic surge, rising 8.9% in one week, as it rallied from N1,672 to N1,535 per…
Coronation Joins AFIS as Gold Sponsor, Championing Innovation in African Finance
Coronation Group has announced its role as a Gold Sponsor at the Africa Financial Summit (AFIS), set to take place…
PalmPay Partners with NFIU to Boost Financial Security in Nigeria
PalmPay, a leading Nigerian fintech company, has reaffirmed its commitment to tackling financial fraud through advanced technology. During a recent…
Banks’ Recapitalisation, New Listings Boost NGX Market Cap by N8.1tn
In 2024, the Nigerian Exchange Limited (NGX) saw a remarkable surge of N8.1 trillion in its market capitalization, despite Nigeria’s…
Organised Private Sector (OPS) urges sustenance as naira gains N137/$
The naira strengthened significantly against the dollar, gaining N137 within a week following the Central Bank of Nigeria’s (CBN) introduction…
Cardoso’s first year sees naira rally amid stubborn inflation
In his first year as Central Bank of Nigeria (CBN) governor, Olayemi Cardoso implemented significant monetary reforms aimed at stabilizing…
UBA Outperforms Peers As Investors Earn 375% Capital Returns
United Bank for Africa (UBA) has delivered an impressive 375% capital gain to its investors over the past five years,…
Foreign investments in telecoms crash by $99m – NBS
Foreign investments in Nigeria’s telecommunications sector dropped significantly in the third quarter of 2024, falling to $14.4 million, an 87%…
Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to…
FCMB Group Plc Reports 67% Profit Before Tax Growth to ₦91.8 Billion
FCMB Group Plc has announced a 67% growth in Profit Before Tax (PBT) to ₦91.8 billion for the nine months…
Finance and insurance sector grow economy by 30.83% on CBN rate hike
The finance and insurance sector recorded a 30.83% growth in real GDP in Q3 2024, driven by the Central Bank…
Singapore Central Bank Fines JPMorgan Over Misconduct by Relationship Managers
Singapore’s Monetary Authority (MAS) has fined JPMorgan Chase S$2.4 million (USD 1.79 million) for failing to prevent misconduct by its…
Access Bank Drives Digital Transformation to Expand Financial Inclusion and Enhance Retail Banking
Robert Giles, Senior Banking Advisor at Access Bank Plc, highlights the bank’s strides in digital innovation and financial inclusion. With…
CBN Raises N11.29trn Via NTBs as 364-Day Yield Hit 23.5%
In 2024, the Central Bank of Nigeria (CBN) successfully raised N11.29 trillion through Nigerian Treasury Bills (NTBs), marking a 106.4%…
Stanbic IBTC Bank Launches Senior Citizens Account for Nigerians Aged 50 and Above
Stanbic IBTC Bank has introduced the Senior Citizens Account, a specialized banking service tailored for Nigerians aged 50 and older.…
SEC: No investor will lose funds to fintech
The Securities and Exchange Commission (SEC) has reassured investors about the safety of their investments as financial technology (Fintech) continues…
Naira appreciates to N1,755 per dollar in the parallel market
The naira appreciated in the parallel market on Tuesday, strengthening to N1,755 per dollar from Monday’s rate of N1,770 per…
States failed to execute 40% of capital expenditure – Fitch
State governments in Nigeria fail to execute 40% of their capital expenditure (CAPEX) budgets, according to the Fitch Ratings report.…
Foreign Transactions Decline as Naira Weakens
Foreign investors are increasingly withdrawing from the Nigerian Exchange (NGX), with year-to-date foreign outflows reaching N400.04 billion by October 2024,…
CBN extends BDCs’ recap deadline by six months
The Central Bank of Nigeria (CBN) has extended the recapitalization deadline for Bureau De Change (BDC) operators by six months,…
Workers Gain Pathway to Homeownership Through Pension Mortgage Scheme
For many Nigerian workers, owning a home has been an elusive goal, hindered by low income, limited affordable housing, and…
Access Bank Debunks Missing Funds Allegation Amid Naira Scarcity
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the…
Bank of Industry Secures $5 Billion Funding for Nigeria’s Industrial Growth
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan…
NDIC Assures Heritage Bank Customers Their Deposits Are Secure
The Nigeria Deposit Insurance Corporation (NDIC) has reassured customers of the failed Heritage Bank that their funds are safe. Speaking…
Capital expenditure suffers as FG services debt with N7.4tn
Nigeria’s Federal Government spent a staggering N7.41tn on debt servicing from January to August 2024, exceeding its pro-rata budget by…