Assets Surge by 39% for BoI.
The Bank of Industry said its asset base rose from N1.71tn to N2.38tn in 2022 financial year – The Chairman,…
Category: Finance
The task before PenCom is to recover unpaid pension contributions.
PenCom, the National Pension Commission, ensures the recovery of unremitted pension contributions by fining businesses who fail to pay employee…
Cane Integrated Investment Ltd Partners with NYSC on Investment Literacy and Financial Planning.
The investment and financial advisory firm, Cane Integrated Investment Limited on Wednesday, May 10, 2023 visited the NYSC Lagos State…
The weakened naira is increasing Nigeria’s governmental debt, according to the IMF.
According to the International Monetary Fund, weaker currencies in Nigeria and other Sub-Saharan African countries are increasing state indebtedness. Sub-Saharan…
STOA Set to Buy a Minority Stake in Morocco’s Building Logistics.
STOA, a subsidiary of the French deposit and consignment fund CDC, announced a MAD330 million ($32.9 million) transaction on Tuesday…
States paying outgoing government pensions owe N3 trillion in debt.
Despite increasing debts and unpaid wages for workers, no fewer than 18 departing state governors will retire into lives of…
Fashola Reports that 383,431 Jobs were Created in Six Years.
Fashola said that from 2016 to 2022, 383,431 jobs were created through the government’s infrastructure renewal, with jobs being generated…
CBN’s ‘RT200’ Strategy Increases Fund Repatriation by 40%, According to Emefiele.
Godwin Emefiele, the governor of the Central Bank of Nigeria, claimed that the bank’s ‘Race to USD200bn In FX Repatriation’…
IMF Warns CBN as eNaira Transactions Hit N1.4m.
Kristalina Georgieva, Managing Director of the International Monetary Fund, has warned of the unpredictable “consequences” central bank digital currencies could…
Nigeria to Become Top Middle Income Economy By 2050, Says Buhari.
The Nigeria Agenda 2050 was officially unveiled on Wednesday in Abuja, with the statement that its implementation will “ensure that…
Foreign debt: FG Deducts N78 billion from State Allocations.
The Federal Government deducted over N78bn from allocations made to the states for external debt servicing, according to findings. This…
In One Week, Investors Lost N304 billion.
The market capitalization lost N304 billion to end the week at N27.963 trillion, and the All-Share Index decreased by 1.08…
FAAC: Allocation Decreases as FG, States, and LGs Split N715 billion.
According to the Federal Account Allocation Committee, in March 2023, N714.63 billion was distributed across the three levels of government.…
The Nigerian Exchange Limited Recorded N2bn Gain for Investors.
The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors. The All-Share Index also appreciated by 11.54 base…
External Reserves Slide Further to $35bn.
According to data received from the Central Bank of Nigeria, the nation’s foreign reserves decreased by $112.78 million in just…
FG: 40% Salary Increase for Workers in April.
By the end of this month (April), the Federal Government will start paying the anticipated wage raise for government personnel.…
Subsidy Removal: FG Seeks Legislative Approval before Distributing $800 million to Needy Nigerians.
Mrs. Zainab Ahmed, the minister of finance, budget, and national planning, has stated that legislative approval is pending and that…
World Bank: 96% of Nigeria’s Revenue Utilized to Repay Debt in 2022.
Nigeria is in a more precarious position now than it was before the late 2021 global oil price boom. In…
NSIA Assets Reach $1 trillion and Draw $500 million in FDI.
The Nigeria Sovereign Investment Authority increased its net assets from N919.73 billion in 2021 to N1.02 trillion in 2022, a…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
IMF Calls on Nigeria to Increase Tax, Decrease Borrowing.
The International Monetary Fund (IMF) has once again advised Nigeria to intensify efforts to expand the tax base, raise taxes,…
IMF Advises CBN to Maintain a Strict Monetary Policy to Control Inflation.
The Central Bank of Nigeria (CBN) was given a recommendation by the International Monetary Fund (IMF) to continue tightening monetary…
In 2022, Debt Servicing Increased by 14.68%-DMO
According to DMO, N2.93 trillion was spent in 2021 on payments for servicing both domestic and foreign debt. Remember that…
According to analysts, U.S Banks are Offering Incentives to Lock in Consumer Deposits.
As the Federal Reserve increased interest rates, customers cried out for banks to pay more for deposits. Analysts now claim…
Nigerias’ Financial Crisis Lowers Productivity in the Private Sector.
In March 2023, the private sector of the Nigerian economy saw productivity steadily decline as a result of the country’s…
Senate Debates Buhari’s Request for a N9.6 billion Refund to Plateau and Borno.
Ahmad Lawan, the President of the Senate, requested that the Senate Committee on Foreign and Local Loans take into account…
World Bank: Incoming Govt Faces Weak Growth, Multiple Policy Issues
According to the World Bank, this year will bring policy issues and lackluster economic development for Nigeria’s incoming government. The…
Buharis Administration Recommends Salary Increases after Eliminating Fuel Subsidies.
According to Labour Minister Chris Ngige, the outgoing government in Nigeria has advised the next administration of President-elect Bola Tinubu…
Firm will Introduce Merchant Financing Program.
Akshay Grover, the chief executive officer of the Pan-African fintech company Cellulant Group, which has operations in 18 countries, stated…
President Buhari Grants a 60-day Extension to Turn in Outdated Currency.
President Muhammadu Buhari of Nigeria granted the go-ahead for the central bank to add another 60 days to the deadline…