Browsing Category
Finance
Nigeria’s debt service-to-revenue may return to 98% in 2 years, economist warns
Economist Paul Alaje criticized the Nigerian government’s simultaneous removal of petroleum subsidies and…
Net FX flows increase by 55% to $25.4 billion in six months – CBN
Net foreign exchange inflows in Nigeria rose to $25.4 billion from January to June 2024, a 55 percent increase…
Nigeria’s NLNG dividend falls 43% on gas constraints
Nigeria's revenue from Nigeria Liquefied Natural Gas (NLNG) Limited has dropped by 43% due to persistent gas…
Bank directors disagree with Otedola, Elumelu on FX windfall tax
The Bank Directors Association of Nigeria (BDAN) has expressed disagreement with the views of FBN Holdings…
FG’s revenue surpassed budgetary target, says minister
Nigeria’s Finance and Coordinating Minister of the Economy, Wale Edun, announced that the Federal Government's…
Nissan shares plunge after profit warning
Nissan shares tumbled over 10% after issuing a profit warning due to fierce sales competition, particularly in the…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the…
Transcorp Hotels posts 188% profit growth in 2024 half year
Transcorp Hotels posted a profit before tax of N10.5 billion in the first half of 2024, a remarkable 188% increase…
Thailand’s Energy Absolute share prices plunge after resumption of trading
Energy Absolute (EA.BK), a leading Thai renewable energy firm, saw its share prices plummet by nearly 30% during…
Consumer spending down as Nigerians remain gloomy on economy
Nigerians reduction in purchasing power have led to a decline in electronic payment transactions and this has been…
Equity market down as investors eye inflation, H1 earnings reports
The Nigerian Exchange (NGX) experienced continued declines last week due to profit-taking and sell pressure on…
Zenith Bank set to unveil capital-raising drive
Zenith Bank Plc is preparing to finalize its capital raising efforts to meet the Central Bank of Nigeria's new…
NIDF posts N8.37bn post-tax profit
The Nigeria Infrastructure Debt Fund (NIDF) reported a 15.8% increase in post-tax profit for the first half of…
How a Trump election victory could ruffle Latin American markets
Investors are preparing for various scenarios in case former President Donald Trump wins back the White House in…
DBS CEO says bank hunting for bolt-on deals, not game-changing ones
Asia's wealthy and their bankers are optimistic about a recovery in China, betting that exposure to the region,…
Nigeria’s Treasury Bills debt surges to N10.4 trillion, largest balance in…
Nigeria's Treasury Bills (T-Bills) debt has surged to a record N10.4 trillion, marking a 60% increase in just…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32%…
Kogi IGR Increases To N23.5bn
Kogi State's internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over…
FBN Holdings gross earnings soared by 181% in Q1
FBN Holdings reported a significant 181.43% increase in gross earnings to N1.60 trillion for Q1 2024. Interest…
China asks Visa, Mastercard to cut card fees, Bloomberg News reports
China is advocating for Visa and Mastercard to decrease their bank card transaction fees in the country, aiming to…
Citigroup Eyes European Expansion Despite Political Instability
Citigroup (C.N) is poised to expand its business in Europe despite the continent's political volatility, which has…
Presidential tax committee recommends N800/$ Customs duty rate
Nigerian businesses are likely to welcome a new proposal that could make planning and budgeting easier. The…
Walmart Ditches Capital One as Credit Card Issuer After Service Issues
Walmart is severing its partnership with Capital One, which issued its store-branded credit cards since 2019. This…
AfDB Pours $1.44 Billion into Nigeria’s Infrastructure Development
The African Development Bank (AfDB) is stepping up its support for Nigeria's infrastructure needs with a…
National, state assemblies to spend N724bn in 2024
An analysis of the 2024 budgets of the National Assembly, state assemblies, and their agencies reveals a total…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the…
Pension Fund Managers Increase Stock Investments to N550 bn
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion,…
FG expects $2.2 billion World Bank loan and AfDB budget
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World…
Transcorp hotel reports 36.2% revenue growth
Transcorp Hotel Plc has revealed a notable increase of 36.2% in its revenue for the year 2023. During a…
NDIC calls on EFCC to return recovered funds
The Nigeria Deposit Insurance Corporation (NDIC) has urged the Economic and Financial Crimes Commission (EFCC) to…