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Finance
The World Bank Lowers its Forecast for Nigeria’s Economic growth.
The World Bank Group has once more revised downward its estimate of Nigeria's economic growth, primarily due to a…
World Bank: Borrowing Costs Weakens Nigeria Fiscal Position.
According to the World Bank, Nigeria's fiscal situation is weakened by high borrowing costs, falling energy…
Nigeria: Bank Deposits Increased by 19% to N43 trillion.
Bank deposits in Nigeria increased by N6.92 trillion from N36.13 trillion at the end of October 2021 to N43.05…
American Banks Prepare for a Recession and Declining Profits.
Despite lenders stockpiling funds for rainy days in anticipation of an economic slowdown that is wreaking havoc on…
Inflation in the Euro Zone Drops To 9.2% as Energy Prices Stabilize.
The European Central Bank is not expected to change its stance in response to the euro zone's inflation declining…
Nigeria’s Debt to Hit N77tn, While Loan Servicing Will Cost N5.2tn.
Nigeria debt 2022: If the National Assembly grants the president's request to reorganize the Ways and Means…
EFCC Obtains N13 billion from Unauthorized Fuel Subsidy Payments.
According to information obtained by the PUNCH, the Economic and Financial Crimes Commission (EFCC) recovered…
Buhari Requests That the N22.7 trillion Debt be Restructured.
The National Assembly was encouraged by the President, Major General Muhammadu Buhari (retired), to reconsider his…
CBN Plans to Decrease Cash-based Transactions by 2025.
According to the Central Bank of Nigeria, when more of the new naira notes enter the economy in 2025, the use of…
Buhari: N22tn Loan would have Additional Interest of N1.8tn.
The 2023 budget plan of N21.83 trillion and the 2022 supplemental appropriations bill were both passed into law by…
IMF: One-third of The Global Economy will Experience A Recession.
In 2023, a third of the world will experience a recession, according to the International Monetary Fund. This…
CBN External Reserves Decreased by $3.43 billion in 2022.
The Central Bank of Nigeria provided data showing a $3.43 billion decline in Nigeria's foreign reserves in 2022.…
Nigeria: Economic Group Takes on The National Assembly Over The Finance Bill.
The National Assembly hasty adoption of the 2022 Finance Bill has alarmed an economic think tank, the Centre for…
World Bank: CBN Loan Repayments will Consume 62% of Revenue.
Despite the restructuring plan, the World Bank has predicted that interest payments on the Federal Government's…
Nigeria’s Senate Approves The 2023 Budget but Defers a Decision On The…
The Nigerian Senate raised the budget for 2023 by 6. 4% to 21. 83 trillion naira ($49 billion) and postponed a…
Emefiele Should Defend Himself, Group Says Regarding Terrorism Financing.
The South South Reawakening Group (SSRG) demanded that the Central Bank of Nigeria (CBN) Governor, Mr. Godwin…
U.S. Looks Into $370 million Theft Following FTX Bankruptcy: Bloomberg News.
According to Bloomberg News, which cited a source familiar with the investigation, federal authorities are looking…
UN: Nigerians are being Impacted by Falling Naira and Rising Food Prices.
According to a report by the United Nations Conference on Trade and Development, a combination of high food costs…
World Bank Advises CBN to Review the RT-200 FX Policy.
Despite its best efforts, the World Bank has requested the Central Bank to reevaluate its RT-200 Program.The…
Tanzania: NBC Bond Trades at DSE Following a Successful Sale.
The National Bank of Commerce (NBC) bond, which was recently completed, is now open to investors through the Dar…
Uganda and IMF Agree to a $240 million Funding Deal.
Uganda and the International Monetary Fund (IMF) have established a staff-level agreement for the delivery of…
Nigeria FG Agree on NIPPS Sale to Pay for Budgets.
Final agreement has been reached between the federal government and the 36 governors of the states to sell five…
The Total Assets of the Insurance Sector Reached N2.3 trillion.
At the end of the third quarter of 2022, the insurance industry in Nigeria had N2. 3 trillion in total assets.…
Banks Reject 94% of Proposals for Export Funding.
Dr. Bamidele Ayemibo, the lead consultant at 3T Impex Consulting, claims that 94% of bank requests for export…
Nigeria’s Inflation Picks Up in November, Reaching 21.47%.
According to the statistics office, inflation in Nigeria increased for the tenth consecutive month in November,…
Banks’ Operating Expenses are Up 19.2% Due to High Inflation and Regulatory…
Following a high inflation rate and regulatory charges, 14 Nigerian banks reported N2. 03 trillion in total…
According to the UN, Global Trade will Reach a Record of $32 trillion in 2022.
According to a UN report, the value of global trade is set to set a new record this year, increasing by about 12%…
UK Inflation Drops from a 41-year High as Fuel Price Surge Subsides.
Inflation in the United Kingdom came in slightly lower than expected in November, at 10.7%, as lower fuel prices…
The IMF Claims that Global Debt is Still Significantly Higher than Pre-pandemic…
The IMF reported that overall public and private debt declined by 10 percentage points to 247% of global gross…
Beyond Capital Ventures Declares Groundbreaking Final Close of Venture Fund
On April 30, 2021, Beyond Capital Ventures was established with the goal of making investments in early-stage…