Nigerian Banks Launch Major Rights Issues to Meet Recapitalisation Mandate
In response to the Central Bank of Nigeria’s recapitalization directive, several banks are collectively turning to rights issues to raise…
Category: Finance
Customs Revenue Increases By 94% At Lagos Airport, Generates N144.2bn
The Murtala Muhammed Airport Command of the Nigeria Customs Service (NCS) reported a remarkable 94% increase in revenue generation for…
Fidelity Bank Launches GAIM 6 Promo with N159 Million Cash Prizes
Fidelity Bank has unveiled the 6th edition of its “Get Alerts in Millions” (GAIM) promo, offering over N159 million in…
Lasaco Assurance Reports 29% Revenue Growth in Q3 2024
Lasaco Assurance Plc has shown strong performance in its third-quarter financial results for 2024, reporting insurance revenue of N17.07 billion.…
NAICOM Promotes Takaful to Enhance Financial Resilience
The National Insurance Commission (NAICOM) has highlighted the importance of Takaful, an Islamic insurance system rooted in shared responsibility and…
Naira Faces Further Depreciation Amid Festive Season Demand
Analysts at Meristem Securities have projected a worsening depreciation of the naira due to heightened demand for foreign exchange during…
Pensioners Seek Redress Over PTAD Payment Issues
Pensioners across various sectors have raised complaints about discrepancies in their payments handled by the Pension Transitional Arrangement Directorate (PTAD).…
FirstBank hosts inaugural China-Africa interbank forum
FirstBank is set to host the inaugural China-Africa Interbank Association (CAIBA) Forum in Abuja, marking the first time the event…
CBN Refutes Allegations Of Withholding Foreign Currency Transfers
The Central Bank of Nigeria (CBN) has denied allegations that it withholds foreign currency transfers into Nigerians’ accounts. The bank…
Zenith Bank Tech Fair Showcases Future of Digital Finance and AI
The Fourth Edition of the Zenith Bank Tech Fair, themed “Future Forward 4.0: Embedded Finance, Cybersecurity & Growth Imperatives The…
Nigeria’s Economy Stable and Ready for Investment
Nigeria’s Finance Minister, Wale Edun, has declared the country’s macroeconomic environment stable and conducive to investment. Speaking at the National…
UBA Achieves Record N2.4 Trillion Earnings in Q3 2024
United Bank for Africa (UBA) Plc has recorded a historic N2.4 trillion in gross earnings for the first nine months…
African Experts Discuss Growth of Takaful and Non-Interest Finance
Finance experts from across Africa gathered in Lagos for the second African Takaful and Non-Interest Finance Conference, organized by Noor…
LAPO advocates financial inclusion for underserved communities
LAPO Microfinance Bank is championing financial inclusion across Nigeria, focusing on underserved communities. The institution highlighted its efforts in bridging…
UBA and Mastercard Unveil 75th Anniversary Commemorative Card with Exclusive Offers
To celebrate its 75th anniversary, the United Bank for Africa (UBA) has partnered with Mastercard to launch a special commemorative…
EFCC Condemns Corruption in Power Sector Urges Stronger Asset Recovery Action
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has underscored the significant harm that financial…
Pensioners relish in new narrative for pension administration
The management of Nigeria’s Defined Benefits Scheme (DBS), commonly referred to as the “old pension scheme,” was marred by mismanagement,…
Guinea Insurance Achieves Strong Growth in Revenue and Profit Through Strategic Expansion
Guinea Insurance Plc reported significant financial growth for 2023, with revenue rising by 49.4% to N2.077 billion from N1.390 billion…
PenCom Targets Self-Employed Professionals with Enhanced Micro Pension Scheme
The National Pension Commission (PenCom) has announced plans to expand and promote its micro pension initiative among self-employed professionals, including…
NSITF Disburses N6.6 Billion in Compensation and Expands Employee Welfare Coverage Across Nigeria
The Nigeria Social Insurance Trust Fund (NSITF) has allocated N6.6 billion to cover claims and compensation for over 103,000 beneficiaries…
Stock market posts N83bn gain on positive trading
The Nigerian Exchange Limited (NGX) closed Monday in positive territory, gaining N83 billion in market capitalization, marking the third consecutive…
FX Scarcity Weighed Down Nigeria’s Ranking in Africa Financial Markets Index 2024
Nigeria secured third place in the 2024 Absa Africa Financial Markets Index (AFMI) with an overall score of 64, following…
Proposed Tax Reforms Exempt Minimum Wage Earners From PAYE
In a significant shift, Nigerian workers earning the new minimum wage or slightly above will be exempt from pay-as-you-earn (PAYE)…
Exchange rate to hit N1.993/$ by 2028 — Fitch
Fitch Solutions projects a significant depreciation of Nigeria’s naira, forecasting it could fall to N1,993 per US dollar by 2028.…
Money supply rises to N108.95 trillion
The Central Bank of Nigeria (CBN) has reported a significant year-on-year increase in broad money supply (M3) by 62.8%, reaching…
FIRS Chief Highlights Taxpayer-Friendly Reforms at Lagos Trade Fair
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, emphasized the agency’s commitment to becoming more…
Stock market end in slight load shed
Nigeria’s stock market closed in the negative at the end of the week, with the Nigerian Exchange (NGX) All Share…
Africhange Secures IMTO License to Boost Remittance Services in Nigeria
Africhange, a leading cross-border remittance service, announced that its Nigerian subsidiary, Currenzo, has received the International Money Transfer Operator (IMTO)…
Nigeria Inflation Expected to Remain High Amid Rising Costs
Nigeria’s inflation rate is projected to remain elevated, with October inflation anticipated to reach 33.10%, largely due to rising fuel…