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Finance
GlaxoSmithKline Reports 33.76% Profit Decline
GlaxoSmithKline Consumer Nigeria Plc witnessed a significant 33.76% decline in profit, dropping to N510.80 million…
Seven-Up, UNIDO, Zenith Bank Partner in SME’s Empowerment
Seven-Up Bottling Company, in collaboration with the United Nations Industrial Development Organisation (UNIDO)…
NNPC Engages South Korea for Gas Projects
The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium…
Exchange Rate: Nigerian Naira Declines to N1, 531/$
The Nigerian naira experienced another decline on Tuesday in the official market, narrowing the disparity between…
Foreign Exchange: Naira plungs to N1348.63/$
The Nigerian Autonomous Foreign Exchange Market witnessed a historic low on Monday as the naira plunged to…
OPay Bolsters Security Measures to Combat Financial Fraud
Nigerian financial technology firm OPay has launched an array of security measures aimed at fortifying its…
Dangote Refinery Plans to Import Crude from the US
In anticipation of potential supply disruptions that could jeopardize its operations, Dangote Refinery is…
Manufacturers Lament over FGN’s 7BN Debt
The Manufacturers Association of Nigeria (MAN) predicted a tough start for manufacturers in 2024, especially in…
Nigerians Express Disappointment on Transportation Cost Despite FGN’s…
Despite the Federal Government's initiative to provide a 50% fare rebate from December 21 to January 4, 2024,…
Nigeria’s External Reserve Declines by $77m- CBN
In December 2023, Africa's largest economy, Nigeria, witnessed a decline in its external reserves, dropping by…
Nigeria Borrows $1.71 Billion: Impact on Exchange Rates
In the first nine months of 2023, Nigeria secured $1.71 billion in foreign loans to enhance the country's foreign…
Moody’s Warns of Negative Outlook for Banks in 2024 Due to Global Economic…
Moody's, the credit rating agency, has issued a cautionary outlook for banks in 2024, citing sluggish global…
World Bank Engages Nigerian Government on Effective Public Fund Utilization
The World Bank has communicated its engagement with the Federal Government of Nigeria to ensure that public funds…
Knife Capital Successfully Closes R941 Million African Series B Expansion Fund
South African venture capital firm, Knife Capital, has successfully concluded its African Series B expansion fund,…
Stanlib Asset Management Invests in South African Solar and Battery Platform…
Stanlib Asset Management, a local investor in sustainable infrastructure, has acquired a stake in Solareff, a…
Central Bank of Nigeria Directs IMTOs to Pay Out Using I&E Window Rate
The Central Bank of Nigeria (CBN) has issued a directive requiring International Money Transfer Operators (IMTOs)…
CBN and NCC Commit to Expand Financial Inclusion at RegTech Summit.
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have pledged to work together…
Finance and insurance sectors grow by 26% year on year to boost GDP in Q1 2023.
Despite Nigeria's challenging business environment, the banking and insurance industries increased real GDP by 26%…
House of Rep Increase the Cap on CBN Loans.
Despite opposition, the House of Representatives passed an amendment to the Central Bank of Nigeria Act, boosting…
The CBN cancels the licenses of 179 microfinance banks and others.
The Central Bank of Nigeria has cancelled the licenses of 179 microfinance banks, four primary mortgage banks, and…
Breweries and the Tobacco Sector on the Verge of Disaster.
According to Dike Onwuamaeze, businesspeople and economists have expressed concern that the 2023 Fiscal Policy…
The CBN prohibits the mint corporation from printing checks.
According to a recent circular, the Central Bank of Nigeria has authorized four indigenous businesses to issue…
The World Bank will increase FG’s access to a $750 million loan.
The Federal Government, on behalf of the 36 state governments and the Federal Capital Territory, is about to…
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, Board…
The task before PenCom is to recover unpaid pension contributions.
PenCom, the National Pension Commission, ensures the recovery of unremitted pension contributions by fining…
Cane Integrated Investment Ltd Partners with NYSC on Investment Literacy and…
The investment and financial advisory firm, Cane Integrated Investment Limited on Wednesday, May 10, 2023 visited…
The weakened naira is increasing Nigeria’s governmental debt, according to…
According to the International Monetary Fund, weaker currencies in Nigeria and other Sub-Saharan African countries…
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)…
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…
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,…