Real Time Financial News Website
For many Nigerian workers, owning a home has been an elusive goal, hindered by low income, limited affordable housing, and inflexible financing options. However, in September 2022, the National Pension…
Access Bank has categorically denied allegations of missing funds and unethical practices circulating on social media. In a statement, the bank emphasized that ensuring the safety and security of customers’…
The Bank of Industry (BoI) has raised over $5 billion in international funding, including €2 billion through a record-breaking loan syndication. This milestone reflects the bank’s strategic efforts to finance…
The Nigeria Deposit Insurance Corporation (NDIC) has reassured customers of the failed Heritage Bank that their funds are safe. Speaking at the 2024 NDIC Editors Forum in Lagos, the NDIC…
Nigeria’s Federal Government spent a staggering N7.41tn on debt servicing from January to August 2024, exceeding its pro-rata budget by 34.4%. Domestic and foreign debt repayments surged, driven by rising…
In response to the Central Bank of Nigeria’s recapitalization directive, several banks are collectively turning to rights issues to raise over N500 billion. FBN Holdings is offering a N150 billion…
The Murtala Muhammed Airport Command of the Nigeria Customs Service (NCS) reported a remarkable 94% increase in revenue generation for 2024, totaling N144.2 billion between January and October, compared to…
Fidelity Bank has unveiled the 6th edition of its “Get Alerts in Millions” (GAIM) promo, offering over N159 million in cash prizes to reward customers. According to Dr. Ken Opara,…
First City Monument Bank (FCMB) is working with EStars to bring esports education to Nigerian schools. They want to introduce Nigerians aged 7 to 14 across primary and secondary schools…
Lasaco Assurance Plc has shown strong performance in its third-quarter financial results for 2024, reporting insurance revenue of N17.07 billion. This marks a 29% increase from the same period in…
The National Insurance Commission (NAICOM) has highlighted the importance of Takaful, an Islamic insurance system rooted in shared responsibility and ethical finance, as a tool for addressing Nigeria’s socioeconomic challenges.…
Analysts at Meristem Securities have projected a worsening depreciation of the naira due to heightened demand for foreign exchange during the festive season. Their Inflation Report, reviewing October’s inflation rate…
Pensioners across various sectors have raised complaints about discrepancies in their payments handled by the Pension Transitional Arrangement Directorate (PTAD). Jiji, a retiree from the Lower Benue River Basin, claims…
FirstBank is set to host the inaugural China-Africa Interbank Association (CAIBA) Forum in Abuja, marking the first time the event will occur outside Beijing. Themed “Joining Hands to Advance Modernisation…
The Central Bank of Nigeria (CBN) has denied allegations that it withholds foreign currency transfers into Nigerians’ accounts. The bank clarified that it neither provides correspondent banking services for foreign…
The Fourth Edition of the Zenith Bank Tech Fair, themed “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives The Impact of AI,” is set to take place at the…
Nigeria’s Finance Minister, Wale Edun, has declared the country’s macroeconomic environment stable and conducive to investment. Speaking at the National Council on Finance and Economic Development conference in Bauchi, he…
United Bank for Africa (UBA) Plc has recorded a historic N2.4 trillion in gross earnings for the first nine months of 2024, reflecting an 83.2% growth from the same period…
Finance experts from across Africa gathered in Lagos for the second African Takaful and Non-Interest Finance Conference, organized by Noor Takaful Insurance Limited. The event focused on strategies to deepen…
LAPO Microfinance Bank is championing financial inclusion across Nigeria, focusing on underserved communities. The institution highlighted its efforts in bridging the gap in access to formal financial systems, particularly for…
To celebrate its 75th anniversary, the United Bank for Africa (UBA) has partnered with Mastercard to launch a special commemorative debit card aimed at honoring UBA’s long-standing customer relationships. The…
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has underscored the significant harm that financial crimes and corruption have inflicted on Nigeria’s development. Speaking during…
The management of Nigeria’s Defined Benefits Scheme (DBS), commonly referred to as the “old pension scheme,” was marred by mismanagement, allegations of corruption, and widespread neglect of pensioners’ welfare before…
Guinea Insurance Plc reported significant financial growth for 2023, with revenue rising by 49.4% to N2.077 billion from N1.390 billion in 2022. Chairman Ugochukwu Godson attributed this success to enhanced…
The National Pension Commission (PenCom) has announced plans to expand and promote its micro pension initiative among self-employed professionals, including lawyers, doctors, engineers, and town planners. Aimed at boosting financial…
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries in a move to enhance employee welfare through its Employees’…
The Nigerian Exchange Limited (NGX) closed Monday in positive territory, gaining N83 billion in market capitalization, marking the third consecutive session of growth after a period of sell-offs and portfolio…
Nigeria secured third place in the 2024 Absa Africa Financial Markets Index (AFMI) with an overall score of 64, following South Africa and Mauritius, which maintained scores of 87 and…
In a significant shift, Nigerian workers earning the new minimum wage or slightly above will be exempt from pay-as-you-earn (PAYE) tax, as part of proposed reforms announced by Taiwo Oyedele,…
Fitch Solutions projects a significant depreciation of Nigeria’s naira, forecasting it could fall to N1,993 per US dollar by 2028. The company’s subsidiary, BMI Research, reports that although Nigeria’s economy…